Business owners of companies of all sizes are setting goals for 2018 in plenty of areas. While being more profitable than the year before it the main goal of all businesses, different areas in different industries can impact profitability. Marketing could be a sore point for a business so increasing their ROI on their marketing budget could be a goal that will impact overall company profitability. Each department should have goals for 2018 in order to be aware of what is being stressed when it comes to productivity. The following are tips that will help your business reach optimum productivity levels and sustain it.
Attract Top Talent With Perks
Building a great team of employees can lead a company to success for years. Attracting the top talent in the industry with perks can help smaller companies who might not be able to compete with the salaries of their much larger competitors. Perks come in all shapes and sizes as something as simple as a secure parking garage in NYC can be worth thousands of dollars to an employee as parking spots come at premium prices in that location. Things like license plate recognition will allow a company to reduce costs as there is no need for a gate guard. Perks can also save company money like that of allowing certain employees work from home. This will reduce the costs by decreasing the office space needed for staff. Being able to work from anywhere is a good enough perk in many cases that they will take any reasonable salary in exchange for the ultimate freedom. Places with numerous employees like hospitals use this license plate recognition to help become more efficient as well as maximize profits. The entire parking garage does not have to be for employees, reserve a few spaces then open the rest to the public. This can help with reducing the need for parking enforcement as well. Employees will surely be happier in a covered parking garage walking to the office than braving the elements.
Automate Where You Can
Automation of various processes with technology can save thousands of man hours per year. This can also help reduce the amount of human error in things like data entry. Take a look at new programs and software a few times to a year to see what new thing can be automated. Thigns like email alerts when a client orders something are a great example. Instead of checking the POS system a few times a day you will be alerted when an order comes in. Automated emails are great for clients as well with a copy of their order. This will also help reduce incorrect orders by clients as they will check their automated email.
Optimize Processes During Slow Times of the Year
There are times of the year for most businesses where things are slower than the rest of the year. This is the perfect time for processes to be tweaked to see where the company can be more productive. The flow of communication in many cases is a process that can be improved. This could be communication between the company and clients or simply the internal flow of communication. Small improvements on a daily basis will add up by the end of the year. Track the changes in relation with improvements by changing one variable at a time to see what had negative and positive impacts. No process is too small to change especially if the process will be performed hundreds or thousands of times per year.
Outsource Departments That Can Help Save Money
A business does not have to have all departments be managed in-house to be successful. The HR department can be handled by an HR firm instead of having to hire numerous employees. This can even reduce costs and the chance of a personal relationship getting in the way of HR doing their job in an appropriate and ethical way. Certain things like IT can also be outsourced as many countries outside of the US have much more affordable pricing that hiring an in-house team. These companies can also make it affordable to have 24 hour support which is ideal for something like an ecommerce business.
Sustaining success means optimizing time and again while attracting top talent. Adapting to the business landscape will also help sustain success as all businesses are constantly evolving in one way or another. Be proactive about making your company more productive and watch the profits skyrocket.