Owning and/or managing a larger business across the entire and truly vast spectrum of industries is as rewarding and motivating as it can be overtly stressful and incredibly challenging.
Productivity and efficiency are two crucial mainstays of any company focused on profitability and longevity. So, with that being said, continue reading to learn about four ways to improve the efficiency of a larger business.
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Focus on Motivating Your Employees
With any company, but particularly larger businesses, if the number one most important component is the customer, then a close second would definitely be the employees.
Concentrating on employee engagement and focusing on motivating and energizing your staff members is, therefore, crucial when seeking to improve the efficiency of your business.
Luckily, there are plenty of proven-to-be effective ways to motivate your employees, including, but categorically in no way limited to, the following:
- Be an honest and transparent leader
- Always publicize positive feedback
- Offer hybrid working and flexible scheduling where possible
- Create an employee incentive program
- Provide extra opportunities for progression
- Build a strong sense of company culture
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Employ the OKR Methodology
As a large company, and especially now that it is almost guaranteed that you employ a number of people who work from home, it is substantially harder to keep track of productivity – the obvious key to more efficient working processes.
The OKR (Objectives and Key Results) Methodology is an innovative and entirely collaborative approach to targets and goal setting. This open and wholly motivational tool is far superior, in multiple ways, to installing tracking and surveillance software to monitor productivity and efficiency.
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Outsource Services & Repairs
You will be all too familiar with how much time and expense emergency repairs cost your company each and every time.
If your business uses a plethora of different types of technologies and equipment, from industrial blowers to commercial pumps, for example, then you will find that outsourcing the maintenance and repair of these may be cheaper and more convenient than keeping them in-house.
If your company undertakes industrial processes using blower pumps, for example, click here to discover the impressive benefits that outsourcing their repair and upkeep can afford you.
Furthermore, outsourcing maintenance, services, and repairs of equipment will free up your and your employees’ time to concentrate on other crucial needs of the company.
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Conduct a Structured Problem-Solving Process
Larger national and certainly international companies face all manner of different sizes and natures of problems on a daily basis. Taking the time to methodically break down each step of your current approach to problem-solving will serve to help you identify any issues.
Just one suggestion for a far more streamlined problem-solving procedure will serve to help you identify any issues.
- Sit down with your senior heads of department and brainstorm each problem in each sector
- Make educated estimates as to what could be gained by eradicating each issue
- Work out the costs of solving each problem and provide a step-by-step guide on how to do it
- Identify any shared root causes
- Execute changes to the most important departments first
- Ensure that every team member is fully aware and has learned the new problem-solving procedure on every level
