Time is money, and time spent on business activities that are not in line with the business strategy is a waste and an avoidable cost to the business
Staff who are not properly trained on your systems or procedures will be inefficient and not engaged with your business objectives. This directly impacts your business efficiency – and therefore your bottom line.
Staff may be completing tasks that are unnecessary or that can be done more cheaply by an external contractor.
So how do you make your business activities efficient and cost effective?
Too many businesses have poorly documented policies and procedures, or worse still, none at all. This usually results in valuable information being stored in the heads of your employees.
But what happens when they leave?
Yes, all of that crucial knowledge walks out of the door with them!
This is not good for the long-term value of your business.
Lost company knowledge will immediately incur an operating cost for the business, plus it will have an impact on the value of your business.
Consider an employee who has been working for your company for ten years, who suddenly leaves the business. How would you cope? What would happen to your business activity? And to your business efficiency?
How to avoid losing critical know-how when key people leave
The way to manage this risk is to implement a Business Process Management solution that will record the ‘who, what, when and how’ of all your business operations. This will become a company knowledgebase that is not employee-dependent and as such will provide significant value to the business.
Consider these questions for your business:
- Are you business activities, processes and policies documented?
- Are they reviewed and updated in a timely manner?
- Are your new staff properly inducted into the organisation?
- o your staff receive sufficient on-going training to maximise their productivity?
We undertake an objective review of your day-to-day operations and business activity to understand how well they align with your strategy. We work with you and your team to develop and formalise your policies and procedures and store them in a knowledge management system so they are always available. We’ll also look at where we can create additional business efficiency.
Business Process Re-engineering
It is often said that our daily work is made up of “10% inspiration and 90% perspiration”!
With this in mind it makes sense the 90% of our work that is done day in and day out is performed as efficiently and effectively as possible.
Procedures and processes often grow organically in a business depending on who is doing the work, and what their own requirements are.
Such processes can get handed down from one staff member to another without any real consideration of what the business actually needs to achieve its strategic objectives.
That’s why it’s worth re-examining how, why, who, and what gets done. That’s what Business Process Re-engineering is all about.
Next step: contact us
Contact us to request your free one-hour consultation to see how we can help you review your business activity and maximise your business efficiency