The WFC Group Blog

5 Ways to Increase Efficiency in Your Small or Medium Business

Posted by Neil Shah on Aug 23, 2016 10:30:00 AM

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As your SMB grows, maximizing efficiency will positively impact your bottom line. Putting systems and structures into place allows your company and your employees to work smarter, not harder, which leads to better customer service, more sales, and more profit. Here are a few ways you can streamline your SMB:

1. Labor Management

Do you know where your employees are spending most of their work hours? Which projects take the longest? Which are the most effective in terms of sales and profit margin? Which areas require more staffing and which need less? Answers to these questions are more than just interesting. By implementing these workforce analytics, you can develop a clear picture of profitable processes and employ systems that yield maximum ROI.

2. Scheduling Concerns

Managing when and where your employees are able to work and balancing last minute emergencies and changes, while maintaining part-time versus full-time hour allowances, can be quite a headache – and keeps you and your management staff from more profitable projects. Automate your scheduling and watch it all fall into place.

3. Payroll and Accruals

It’s easy when it’s just you or your couple of employees - you cut the check and you’re done. But as you grow, adding staff can get complicated quickly. Suddenly you’re managing different pay levels, different agreements, and accruals and bonuses. Don’t spend your days working out the math in spreadsheets and making costly mistakes. Remove the guesswork with workforce management software that automatically and transparently tracks payroll and accruals.

4. Compliance and Legal

Do you have all the labor laws memorized for your state? How about all the states where you have employees and staff? Do you really want to keep track of who can work when, and how long, manually or in your head? Workforce management software can keep you in compliance – and can act as proof that you are operating within legal guidelines. Build confidence among your team and rest easy knowing your organization is in compliance with the legal system.

5. Hiring and Applicants

Finding and bringing on new employees as your small business grows is a time consuming process. Integrating automated hiring software can help your small business keep track of all of your requirements and applicants. Hiring more qualified applicants faster keeps your growth on track and continuous.

 

In so many areas of your small business, inefficiencies and time wasters can eat into your profit margin and slow down your growth. Workforce management software such as Kronos Workforce Ready can eliminate those obstacles and put you on target to reach your goals.

Topics: Kronos Workforce Ready