Would you like your business to be more efficient? Do you think there’s room for improvement in the way you operate? If you answered yes to either of those questions, it is time to take a closer look at some of the freshest techniques’ managers are using to get the most out of what they already have. Becoming more efficient is not about taking on more employees, expanding markets, or doing anything inherently different from you already do.
Efficiency, in its most basic form, focuses on minimizing waste. In today’s corporate, entrepreneurial environment, it’s a way of getting the most value out of what you already have. The most common general areas to work on include employees, fleets, and outsourcing. Here are more facts about each one of those functions and how any entrepreneur can leverage current resources to earn more and work smarter.
In-House Talent Optimization
Are you getting the most out of your team? Have you reviewed everyone’s background and job history recently? One of the fastest ways to discover unused in-house talent is to re-interview every employee. Of course, let them know that the session is not a performance review but a way to find out about their full array of skills and ambitions. This process usually reveals several key skills that can be put to good use, and you don’t need to hire new people to reap the rewards.
For companies that use vehicle fleets for transport tasks, it is imperative to meet local and national regulations, maintain a high level of safety, keep the customers happy with on-time delivery, and make efficiency priority number one. The good news for company owners is that there are many excellent fleet tracking solutions on the market. Each one has its strong points, and some are more complex than others.
Whichever one you use, make sure it comes with GPS fleet tracking functionality so you can use the generated data to locate all your assets in real-time. Even basic spreadsheet information about routes, hours driven, maintenance dates, miles traveled, MPG, timeliness, and accident/incident reports can serve multiple purposes. Plus, using a reliable tracking device or software product will minimize fuel use, worker hours, and vehicle wear.
Doing something in-house just to save a few dollars is not always wise. The fact is that if you don’t do the task efficiently, it’s probably a waste of money to do it yourself as opposed to outsourcing it. Payroll is a perfect example. Most entrepreneurs, unless their organization offers accounting services, has two choices. One, hire a full-time specialist to do payroll and hope to have other chores to keep that person busy between pay cycles. Two, outsource payroll to a company that does it for companies in your niche.
Want to make the most of your time? Go through a check list of each compartmentalized job within the company and decide what can be outsourced. Most managers who do this exercise are surprised to discover that they are trying to do far too much on their own and can save a substantial sum by hiring others to do things like payroll, tax preparation, legal reviews, onboarding of new hires, technical training, IT security, file/date storage, and much more.