We’re well into 2018, but that doesn’t mean that now isn’t a good time to review your organizational strategies. If you haven’t been reviewing your everyday operations for efficiency on a regular business, you could be leaving major money on the table. One market research firm found that companies lose 20-30% of their revenue every year simply due to inefficient business operations. That’s a tragic waste that could be reduced by reviewing and revising your organizational strategies on a regular basis.
You should always be trying to improve and streamline your processes. Not only will it help encourage business growth, but it will also help your employees feel happy and secure at the office. Companies become more successful and efficient by simplifying their procedures and making positive changes in the workplace.
Wondering how you can improve the workplace? Here are four new organizational strategies that are gaining popularity in 2018. Read on to find out how these initiatives could help your company create more success.
Create Better Management
We all know that management has an impact on everything within a company, from productivity to turnover to strategy execution. Unfortunately, many companies need a management overhaul. That doesn’t mean replacing the leadership team, but it does mean examining and improving areas that need work.
Some managers might need to be let go, especially if they subscribe to an authoritarian model of leadership and are unwilling to change, but others just need to develop their skills and gain more self-awareness. Negotiation is an important skill for any manager, but many people are uncomfortable negotiating and don’t know how to discuss terms in a positive way. Managers who know how to look for win-win situations and view negotiation as a discussion rather than a battle will help improve morale and create more efficiency in the workplace.
Get Your Data Down
There’s no getting around it: good data management practices are essential for running a successful and efficient business in 2018. Take the time to establish a simple and effective reporting process that lets you get a record your data and results. Simplify your steps, and tighten up your reporting process to ensure there are no mistakes.
Making your numbers and reporting foolproof will help everyone work more confidently and prevent misunderstandings, both internally and when communicating with outside parties like investors.
Consider Cross-Functional Integration
What is cross-functional integration? It’s a process that allows information to flow freely between departments of an organization, improving collaboration and transparency. Essentially, it’s a modern hierarchy structure that discourages “silos” of information within a company. Cross-functional teams are agile and work toward a common goal using their individual skill sets to work on various projects as needed. This can help keep everyone informed and help every team member to use their skills where they’re most needed.
Companies need to create a plan for implementing this type of structure properly. Cross-functional integration can be very effective for improving efficiency and transparency, but only if it’s done well. Dysfunctional teams are common—in fact, one researcher found that almost 75% of cross-functional teams were not functioning properly. That’s something every company needs to be aware of when implementing cross-functional integration so they can avoid the most common pitfalls.
Encourage Employee Growth
People are happiest and most productive when they’re given opportunities to grow and engaging challenges to overcome. Employees who are not given these opportunities will become bored, their work may stagnate, and eventually, they may leave. When looking at the 100 best companies to work for, they offered almost double the amount of on-the-job training as companies that did not make the list.
If you want to keep growing and maintain high levels of productivity, you need to keep people around. Offering benefits like tuition assistance, in-office trainings, lateral movement, and opportunities for growth are great ways to keep employees happy and reduce turnover.
Maintaining a Happy and Productive Workplace Takes…Work
These four organizational strategies can be very effective, but implementing them properly takes a lot of thought and work. Before you jump in and make changes, think about where your organization needs the most work and start there. It’s better to make changes gradually and fully, rather than trying to do everything at once. Maintaining a happy and productive workplace by optimizing organizational strategy takes work, but it’s all worth it in the end.
Ryan Ayers is a strategy and management consultant with over five years of experience in multiple industries including information technology, medical devices and logistics. Many clients call him the BizTech Guru. He is a freelance writer on the side and lover of all things related to business, technology, innovation and the LA Clippers.
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