Sunday, May 26, 2024

3 Ways To Improve Business Performance.

October 9, 2019 by  
Filed under Money/Business, Tech/Internet, Weekly Columns

( Anyone can start a new business but the difficult part is making it profitable. The best way to ensure you are on track to creating a profitable business is to ensure that it is running at peak performance, so here are 3 things that could help. 

  1. Set your business goals

Setting yourself and your business goals is one of the most important things you can do to increase your business performance. Goal setting doesn’t need to only be about revenue but could relate to anything that enhances your business performance such as innovation and employee retention. Some of the reasons why you should consider setting goals for your business include:

    1. Measuring success
      Goals are the clearest way to measure the success of your company and it’s not always a bad thing if you don’t meet them. Setting goals is about understanding your companies capabilities and then pushing just an increment or two above it to ensure that you are pursuing constant growth.

    2. Learning your strengths and weaknesses
      Setting goals and watching your progress towards them will also help you find your companies strengths and weaknesses. Knowledge is power and with this insight, you can begin to focus on the areas of your business which may be holding you back.

    3. Team cohesion
      Setting clear goals and circulating them with your team ensures that everyone is aware of what they are working towards and will help to motivate everyone to reach it. A clear goal is also a very useful tool for managers to use to assess employee performance. 
  1. Take the time to consider ergonomics 

Ergonomics is the science of ensuring that the things that people use the most are set up in a way which makes them both safe and efficient. You’ll find ergonomics embedded deeply into the culture of large successful companies and it’s obvious why when you take a look at how it can help a companies performance. Ergonomics can help by:

    1. Increasing productivity
      Ergonomics can help to increase productivity by ensuring that each employees working environment is set up in such a way that helps them do their job. Setting up a work station correctly allows for fewer motions, better comfort and less exertion and means that your employees can focus on the task at hand and not the constant need readjust their surroundings. Happy, healthy and comfortable employees are harder working and will improve your businesses performance.

    2. Attracting the best talent
      The hiring market is competitive but by showing an investment in erganomics you can attract more of the top talent. A company that is willing to invest in ergonomics for its employees demonstrates care for their health and wellbeing which can make them a lot more attractive than a company that doesn’t. Ergonomics can also help your company accommodate those with different needs ensuring you aren’t making yourself inaccessible to someone who may have a physical impairment.

    3. Saving the business money
      On the surface, ergonomics can seem like a very costly investment but it’s also one that will help impact your bottom line. Ergonomics helps to save businesses money by preventing employee injury resulting in less time off, and by also improving employee retention, resulting in reducing hiring costs. 
  1. Improving communication 

Improving your internal, external and production communication is essential if you want to enhance your business’ performance. Internal communication is important if any organisation is going to function effectively, setting clear goals is one way to improve communication but some others include:

    1. Creating an open-dialogue
      Creating an open dialogue means keeping everyone in the company in the loop at all times with regards to progress, changes and any future plans. This can be achieved through company meetings and newsletters but it’s important that it remains a two-way conversation which means also allowing your employees to offer their opinions.

    2. Using an online project management tool
      It can be difficult to maintain good internal communication especially between departments or across multiple projects. Online project management tools can help your business to remain transparent across departments and will provide employees with a means to communicate with other members of the team who they may not get to see regularly face to face. Online platforms are no substitute for face to face contact but when used correctly can provide important support.

    3. By working on a team dynamic
      Having an open dialogue and online project management tool in place is only useful as long as employees feel comfortable communicating through them, it’s therefore very important to foster a good company culture which works on creating a maintaining a positive team dynamic.

Staff Writer; Fred Short

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