The Hidden Areas Of Commercial Efficiency
Is efficiency always good?
Many business owners may feel inclined to say yes. After all, efficiency can sometimes provide a greater yield for a lesser cost – what’s not to like? Yet it’s also important to consider how such changes can have unforeseen impact.
For example, while many banks and fast food restaurants now offer digital screens instead of tellers or workers, some customers dislike that lack of human connection present in such scenarios.
As such, rampant efficiency is not always the best possible outcome to pursue. You may be better suited in being efficient in how you select for efficiency. In other words, optimizing how you decide to optimize.
Through this effort, we see hidden areas of commercial efficiency that allow for better improvements, more lasting change, and securing the minor wins that add up into greater performance.
That’s a noble goal. In this post, we’ll discuss how to bring it to life:
Streamline Administrative Processes
When restructuring, companies tend to think about how they can automate and optimize the “bottom levels” of employment in their company. That might involve making the organizational structure more flat, ripping out departments, downsizing where appropriate, or even replacing staff with automated solutions as discussed. This isn’t always a bad idea of course, and sometimes a business does need to let go of people to survive. We saw that during the pandemic.
However, it’s also true that administration should not be free from the harsh glance of efficiency. For example, outsourcing certain measures such as your HR department, payroll or expenses can help you curate a more dynamic and faster team, handling requests as they come. You might also integrate management software that allows you to handle tasks more easily. Sometimes, where you don’t want to look is the best place to look.
Implement Energy-Saving Practices
The structural planning of how you energize and fuel your operations is important to consider. As we’ve seen with boiler economizer solutions, often it’s the auxiliary support systems that allow a main function to work as intended.
Considering your own energy use, from the light bulbs you use to the HVAC systems you install, can be a good place to start. Installing energy-efficient lighting, using smart thermostats, and scheduling regular maintenance on your heating and cooling systems can result in noticeable savings.
Additionally, exploring renewable energy options, like solar panels, might seem like a large initial investment, but over time, these systems can significantly reduce operational costs and lessen your environmental footprint.
Use Data Analysis To Inform Those Tougher Decisions
We tend to think of a business owner as simply knowing what to do and having the leadership gene, thanks to their lucky position at the top of the firm. But that’s not the case. Often, hard data and the willingness to look at trends is just as important as being bold,
You could start by analyzing customer behavior, market trends, and what’s worked to meet demand in the past, and from there you can make more informed choices that benefit your business in the long run. Data analytics tools can help you see if an SEO campaign has worked well, how many clicks your PPC ads are receiving, and exactly where your leads are being converted.
You can also track reviews over time, calibrate customer support request times based on how long it takes agents to respond (maybe more autonomy is better for them), and even use market statistics to move forward.
For example, if you run an IT-managed service and premium cybersecurity service use is increasing by 5% in the market each year, you could lean into furnishing your product in that direction. Sometimes, efficiency opportunities are screaming out at you, but without the tools to view them, you may not be able to respond in time. Being able to shine a light on efficiency potential is at the heart of improving your position.
Employee Surveys
It’s sad that some businesses decide to make efficient decisions that affect their staff members without asking for their opinions. Of course, not everything every staff member suggests is actionable, but it’s still worth asking those questions to see the common complaints raised.
For example, perhaps 60% of your employees feel that the last two days of your onboarding process is a waste of time, thanks to how many of the concepts are repeated during the first week of work. Here you might look to reconfirm those lessons in different ways, allowing you to save time and help a new hire start pulling their weight more easily.
Surveys, regularly implemented and discussed, can shine a light on the hidden practices and difficulties that could use your attention. Perhaps staff often waste time in data entry that rarely changes, whereas inputted automation could save time. At the very least you’ll have further options to consider, and that in itself can be helpful.
Efficiency For Chosen Outcomes
There are a few investments businesses can make to ensure the experience attracts the kind of goodwill and familiarity they need to thrive. Think about a dentist that may offer a lollipop or other treat to their younger patients, encouraging families to return to their clinic and keeping a healthy atmosphere in the building.
The lollipops are almost meaningless in terms of business cost, but they allow each pleasant to become more pleasant, and they send clients away with a smile, pun intended.
Is it worth finding efficiency in chosen outcomes this way? A small free gift could help sweeten the deal compared to a competitor. Free coffee may make your event more appealing. Free installation on certain products could add labor hours to your commercial approach, but guarantee a 20% upswing in purchases.
It’s always worth taking these opportunities seriously because they genuinely do count. If you crunch the raw data, you’ll find that these “hidden areas of improvement” are actually enhancing efficiency.
With this advice, you’re certain to improve the hidden areas of commercial efficiency, and identify them at a growing rate.
