5 Tips To Overcome Business Inefficiencies

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5 Tips To Overcome Business Inefficiencies

What’s a reliable indicator of inefficiency? Is it when you plan for goals but meet fewer ones or when critical staff go missing, resulting in an incomplete workload?

Business leaders within high-maturity organizations have started taking a proactive approach to countering business inefficiencies. After all, they know from experience which measures worked, or didn’t work in the past. And no one likes spending more time, energy and costs on putting out fires than in getting actual work done. This is true especially when it comes to tapping into potential from within. Without insights into when a slump occurs and what is causing it, managers are unable to differentiate between a project’s actual and perceived value.

Regardless of the level of automation your current technology is at, having the right people on board at all times is what lets you scale up in line with the corporate strategy. A competent work-ready workforce can exercise sound judgment and expert know-how when it comes to solving problems. Without further ado, here are a few tips to overcome business inefficiencies

#1 Visualize Resource Activities

The right data is the strategic decision-making arm to your firm. And the more visible information is, the easier it is to interpret insights. The of today gives you the data you require without creating a congestion, either on your system or on the schedule. It lets you compare notes concerning people and projects, such as how multiple projects are faring, lags or requested extensions. This way, you can drop suboptimal allocations off the booking chart while ensuring all available hours and effort estimates add up.

#2 Embrace People Analytics

As good as your workforce is today, you should still account for different scenarios that impact the workforce composition, such as inexplicable absences, voluntary retirement, lapsed employee contracts and lawful termination. One minute you have all the resources to staff your business; the next minute you’re losing track of individual assignments, role re-assignments, handovers, departures and leaves. Embedding business intelligence produces people-centric data analytics, which gives you a high-level view of global offices, people, activities, schedules and calendars to let you predict and prevent undesirable outcomes.

#3 Initiate Iterative Agility

Agile, when done right, simplifies processes. Besides clarifying what the team will be working on, each cycle enables different project teams to leverage their primary and secondary skills. Iterative agility facilitates cohesive collaborations, scores priorities and reviews releases before making any revisions. This is essentially akin to taking a step back and determining whether the change requested is worth accepting, or better off rejecting. As a measure to improve business efficiency, it concentrates on what is realistically achievable in a timebox to avoid over or under utilizing critical staff.

#4 Streamline Enterprise-wide Communication

Watercooler exchanges, hallway conversations and private messages aside, communication across global teams requires unification through a dedicated team portal. Only then can you consolidate notes and fact-check work with greater accuracy. The win for your teams here, is that they’re always connected to their colleagues and are informed of changes, alerts and updates in near real-time. Efficiency is realized when your teams are able to incorporate changes without the risk of undoing or redoing existing work. What’s more, they’re even in the position to shape the learning curve for junior recruits by being available to mentor and show them the ropes.

#5 Gamify Project Work

Everyone likes being thrown a challenge every once in a while. The idea of gamifying work came about to widen attention spans and make things interesting for your teams. It begins with identifying difficulty levels and creating a reward system that scores participants based on their ability to apply logic, creativity and reasoning to the challenge.

Besides channeling their competitive spirit, gamification at the workplace lets team leaders know how many milestones were reached which, in turn indicates performance. Contrary to the popular belief that gaming causes workers to slack off while on duty, it actually motivates your teams to rise to the occasion and solve more problems in a shorter time!

The spike in technology has resulted in businesses exploring new ways to leverage them internally. The popularity of ERP systems has soared for this very reason. Besides connecting multiple platforms, lowering costs and boosting process efficiencies, the right usage of digital disruptions not only improves employee engagement but also enables businesses to fulfill vacancies with the right quality and quantity of talent.

How would you rate your personal efficiency at work? Let us know in the comments below.

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