A Bird's Eye View on Home Improvement

Improving Business Efficiency

Posted by on Jun 17, 2019 in Personal Injury | 0 comments

As any business owner or top manager can confirm, Corporate America can be ruthlessly competitive. Even the slightest or random efficient characteristic that puts you ahead of your competitors may be the very thing that saves your business or makes you the top earner in your industry’s quarterly earnings report.

There is a plethora of information available online for how to improve business efficiency, however, many of them lack the full depth and breadth I was able to ascertain from my independent research. In the following piece, I will guide you on ways to improve the efficiency of your business and as a result, become a more competitive company:

Clear management

One of the easiest ways to suffer as a business is to have consistent breakdowns in communications, especially between management and lower-level staffers. There needs to be a clear set of expectations between all parties — especially if these members of the team work with one another often. Working to make expectations clear is necessary; working to make preferences known is an even more advanced step to take that will streamline the processes of your business or projects.

Another aspect to consider in regards to clear management is the articulation of hierarchy. Organization charts are especially great ways to explain the appropriate parties to include in different decisions or in specific projects. A confusing business cannot be an efficient business. And an inefficient business will struggle to be a profitable business.

From this, we must also consider how the rates of turnover can affect a company. If a company is constantly re-hiring and training new employees, it will cut into efficiency as well as the profitability of a business. Not only because so much time and so many resources will be used for the training process, but also because the turnover rate will affect company culture.

Safety first

Of course, another aspect to business management in the pursuit of profitability as well as efficiency is incentivizing a culture of safety in your business’ community. This is not only morally correct as employees deserve a safe working environment, but also in your business’ best interest; hiring new workers or re-assigning workers to other projects because a worker is injured or unable to come into work, is lengthy, expensive, and not in your best interest. Look into solutions like the medical management programs and services provided by WorkSTEPS, if you have a business in which people are regularly at risk.

Company culture

If people are not “bought in” to wanting the company to succeed, there will almost certainly be long-term negative effects. This can manifest itself in people viewing the company or business as a place to clock in and clock out of, but not truly caring about their coworkers, employers, or the product/service they bring into the world.

Of course, even with activities like holiday parties, bonuses, clear communication, or great leadership, a possibility still remains for a specific employee to act toxically and negatively influence other employees. The burden then falls on the shoulders of managers or higher-ups to identify these bad actors and prevent their toxicity from spreading to other parts of the company. Corporate training, mentorship, or simply firing these individuals are just some of the tools that can be used.

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