Businesses aim to expand, but what happens when their infrastructure and IT systems can’t keep up? Not only will revenue likely peak sooner than expected, but the organization could come to a standstill that may affect future investment.

It’s not just startups that have to look toward future growth. Medium and large organizations cannot settle for where they are now, especially in an increasingly competitive and global business climate. Rather than react to challenges related to growth, corporate heads must be proactive and prepare for business expansion, from talent acquisition to systems updates.

Here are five ways to plan for enterprise growth:

1. Overhaul existing infrastructure and IT systems.

A company is unlikely to move towards growth if it doesn’t have the tools and technology needed to expand. Rather than relying on old infrastructure or networks, business owners and managers should consider upgrading their systems to be compatible with changing technology, software updates, and more. For example, they could reduce the number of proprietary applications or devices in favor of cloud-based services and software for increased flexibility and reduction in on-site costs.

2. Review choices for vendors.

As a business grows, it’s important to inspect the offerings of current vendors and compare them to competitors. It may be possible to cut costs, negotiate a better deal, or switch over to faster or more reliable products or services.

3. Hire effective recruiters.

Great recruiters know that talent is critical to the success of a company. Talent is the fuel for profit-driving ideas and productivity within a business. Getting the most sought-after employees in the door is a crucial step toward corporate expansion. Business heads must ensure they are hiring the best recruiters to find, interview, and vet only top talent.

4. Focus on talent retention.

Recruiting talented employees is not enough if companies are not able to keep them. More than three-quarters of business heads view employee retention as either important or urgent, according to HR publication TLNT.

Talent retention could cut down costs from hiring, onboarding, and training new employees. This leaves more room in the budget for other worker-related initiatives like incentive or health/fitness programs that are important to employees and make them more likely to stay with a company.

5. Determine how to maintain and oversee systems.

Even if it’s not the right time to start anew with current infrastructure, corporate leaders must decide how they will maintain these systems for compliance or other aspects necessary for growth. In addition to keeping compliant with rules and regulations within their industries, company heads will have to guard against cyber attacks, patch up security loopholes, and more. This will require a high level of oversight of existing systems and the right management and talent in place.

Business heads are aiming for a bright future. Consider the above factors to stay on a straight path toward growth.

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