For small and medium-sized businesses (SMBs), the primary goal is to grow in 2020. This could be revenue growth, customer base growth, product lines, or any other business objective.
SMBs still face significant challenges when trying to reach their growth goals.
How can SMBs overcome these problems and increase their output while reducing input? Through improving employee effectiveness.
SMBs can grow by increasing their labor productivity without increasing the number or hours worked.
We estimate that 40% of SMBs will not achieve their growth goals in America if they don’t make significant improvements in employee productivity.
For a deeper dive into our research, see “Part One”.
This article will provide a roadmap for SMBs to use to improve employee productivity. This is known as “process with purpose”.
Four key initiatives have been identified as part of the “process without a purpose” roadmap.
Make your workplace more productive and motivate employees.
This guideline can be used to help small businesses create a culture that encourages performance. Employees will have the tools to maximize productivity, and receive training and skill development that distinguishes high performers from average ones.
It is important to foster a leadership mindset that embraces changes and then to focus on continuous improvement of internal processes in order for them to enhance, not hinder, performance.
These themes will be explored in our next project management (PM), research to help you implement the recommendations below.
Why is this important? SMBs face three main challenges when trying to reach their growth goals. Employees who aren’t engaged and motivated at work are less productive.
According to a Gallup 2016 study, fifty-one percent of U.S. workers are not engaged at work. Engaged means that they are involved in, excited about, and committed their work and work environment. What’s the solution? High performers don’t just appear, small businesses need to create the right environment for productivity. You can attract and retain the best workers by creating policies that give structure and direction to your company culture. A lack of mindful processes can drain productivity.
How to start: Empower employees and allow them to be their best.
Take into account the following when evaluating your work:
Why is this important? SMBs are lacking formal PM skills. Most small businesses only have a handful of certified project managers.
Many people, from business leaders to team leaders, will be able to lead projects despite not receiving formal training or certification. These are “accidental managers of projects.”
What’s the solution? To achieve your growth goals, it is crucial to manage people and projects effectively. Small businesses must support and develop these “accidental” project managers in order to deliver project value, despite not having formal PM skills.
How to start: Create a leadership culture that encourages accidental project managers who can drive operational changes with the following four actions.
Why is this important? Poor stakeholder management is a major problem