How to Boost Your Profitability Without Spending Money

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How to Boost Your Profitability Without Spending Money

  1. 1. How to Boost Your Profitability Without Spending Money The ways in which many companies deal with their employees is, to put it bluntly, quite static. Employees are hired, given a task and expected to complete that task with little consideration given to potential skills outside of the role for which the employee was hired. While thisapproach might be straightforward, it also represents a failure to capitalizeon the strengths of a given resource. This can ultimately lead to a decreasein the level of job satisfaction for the individual, resulting in reducedproductivity and a far lower ROI for the hire. What is the best way to solvethis problem? In truth, it requires a dynamic approach to responsibilitystructuring that considers the individual employee. Fortunately, given theadvanced level of current time and resource tracking software, it is notdifficult to determine where exactly a given employee should be placed inorder to maximize his or her potential.For example, say Steve is working on a project as a general coder. Hecarries out his tasks well and tracks the time he spends on each individualsegment of the project. However, after a few weeks, it is clear that he is50% faster when coding one segment of the project over another. Byassigning Steve to primarily code that one particular section, andreassigning the other tasks to another coder on the team who handles theadditional responsibility with ease, the company has just increased theirproductivity on the project without any additional costs. As an added bonus,
  2. 2. Steve likely feels more comfortable in his role as well. It is a win foreveryone.While this example is rather simplistic, imagine the implication if everyemployee is assigned to the tasks at which they are best. It sounds a littleutopian, but in practice it is not too difficult to implement. Ultimately, a littleinsight into individual productivity levels across tasks can result in massivebenefits for the company as a whole. Even if you implement this type ofdynamic system on a small test group of employees, the results should beimmediate and measurable. Increase productivity, increase employeesatisfaction, and decrease the possibility of burnout and you will have ahealthy, long-lasting relationship with your employees.Reference Link: http://www.theicpm.com/blog/item/4677-how-to-boost-your-profitability-without-spending-money

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