Let’s end this thing! Today is all good news – Europe has a plan to deal with their debt crisis, the GDP grew 2.5% in Q3, doubling Q2’s growth, and the elections are coming up in one year. The market is responding today – so I say let’s all forget about the past few years and start fresh today. It’s time to make last minute investments in infrastructure and people so we’re ready for the onslaught! I’m all-in, please join me.
Wise infrastructure investments can help you add capacity without adding headcount. Payroll is the largest expenditure for most of us, and it’s important to maximize the return on that investment. If you use efficiency to save one employee 5 minutes per day, that’s over 21 hours of capacity per year! If that employee’s burdened cost is $25/hr, that’s over $540 per year, or if that employee generates $100/hr in income, that’s $2100 per year for 5 minutes in savings. If you can effect that change on multiple employees, the dollars really start to add up. There are many ways to increase efficiency, which I’ll address below.
The easiest way to increase productivity is through workflow improvement. Have your employees take the time to document all of your processes and procedures on paper. Then, schedule a meeting with all involved parties to discuss the process and streamline it. Make sure you then update your documentation – which will be invaluable the next time you onboard a new employee. You’re welcome to involve me in those meetings, so I can provide input on areas that technology could automate these processes, and I’m also happy to provide input on the overall workflow documentation and streamlining process, as it’s something we have undertaken at our office.
Other ways to increase productivity include improving infrastructure (due to the example above – squeezing every last breath of out your PCs or network can cost more than the new equipment) and creating custom reports to replace manual efforts.
Let me know how we can help.