With a new year starting, businesses have the opportunity to revisit their business goals and accomplishments to see what they’ve achieved. It also allows them to take a look at the future of their company and implement any necessary changes to
Planning for a new year may seem intimidating, since there are many different documents that you should review and revise for your business every year. Looking at each aspect of your business separately and dealing with one thing at a time can help you stay organized and on track with any new ideas or revisions that you want to make.
This post gives suggestions on what you should consider when reviewing your business documents to prepare them for the new year.
Review Your Business Plan
Before you started your business, chances are you created a Business Plan to organize and set goals for your new company.
The start of the new year is a good time to revisit that Business Plan and see if your company has met any of the goals that you originally set out, or if you need to change or add anything to your plan.
A Business Plan is a living document that is meant to be modified as your business grows and evolves over time, so don’t be afraid to reevaluate the original goals and structure you set out when you first created your document to match your company’s changing needs.
Revise Your HR Documents
As your company grows or changes, you may want to start thinking about creating or revising your human resources (HR) documents.
In addition, if your employees are going to have access to sensitive information (like company finances, business operations, or marketing information) in the new year, or if the information they already have access to is changing, you should take a look at creating or revising a Confidentially Agreement.
Depending on the direction your business is going in the new year, you may also want to consider taking a look at whether you will need a Non-Disclosure Agreement and/or Non-Compete Agreement for any of your employees.
Update Your Employment Contract
The start of a new year is also a great time to revisit and update your employment documents. Going over your Employment Contract will help ensure that everything included in it is still relevant to your company and to any new employees that you’ll be hiring in the new year.
Reviewing Your Business Documents Every Year
As your company pushes forward into the new year, you’ll need to modify your business’s important documents. As a business grows and evolves, its needs change, and your company paperwork should reflect those adjustments. The start of a new year gives you the opportunity to take a look at these documents and revise them as needed so your business can continue to prosper well into the future.