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Pay Attention to These 4 Processes to Maximize Company Growth

We have been through a tough 18 months – some businesses grew, some closed, while others stayed the same.

However, most business owners are looking toward 2022 as a growth year. So, if you are one of them, what do you need to do? Here are four sound strategies to consider.

Embrace Millennials

Here are three research findings your leadership team needs to be aware of:

  1. By 2022, Millennials will make up 50% or more of the global workforce
  2. Millennials are 3x more likely to stay at a business if it promotes collaboration
  3. 75% of workers under 40 years old expect to use the technologies they use for their personal lives also to be used in the workplace

Based on this information, you need to:

  1. Assess how many Millennials you have in your organization and how many you plan to hire over the next 12 months
  2. Put a plan together give them collaboration tools and understand by doing so; you will decrease employee turnover
  3. Assess whether a BYOD policy will work for your organization and put together a plan to either enact one or give employees mobile devices to replicate what they are already using at home.

Change Job Descriptions

As the number of employees grows, job descriptions should change. For example, if your company started with three employees and is now at 11 and growing, chances are the first three individuals were responsible for a lot more than they should be today.

Update your job descriptions and review with each employee. Encourage employees to give you feedback if they feel the job description needs to change in any way.

Document and Refine Workflow Processes

Once you have updated job descriptions, now is the time to update workflows to ensure maximum efficiencies. For example, convert manual processes to automated ones, implement new software solutions, and hire an outside consultant to recommend process changes.

Ask employees how you can help make their job better. Use their ideas as much as possible.

Reevaluate Workspace

Does every employee have an office, cubical or productive workplace? Don’t put interns or new employees in boardrooms, closets, or the copier center and expect them to stay.

Assess the following and put together the best plan for your organization:

  1. If your lease is due near term, determine how many employees will continue working from home, be at the office, or will you have a hybrid model?
  2. Offer remote options for your team to work from home part-time. According to Workplace Analytics, employees who work from home 2-3 days a week save a company about $11,000 per year in overhead per employee.

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