The road to a lean effective business is management. Philip Mydlack, in an article for BizTimes.com, gives his insights into how this strategy is implemented.
The first point Mydlack notes is that a highly effective management team is needed to be competitive in today’s economic environment. “It is imperative that effective management and management practices are consistent throughout your organization.” The alternative is underperformance.
Companies have realized this important factor and have found ways to enhance efficiencies while at the same time motivating employees toward positive momentum. The key to this strategy is to engage “employees at every level of the organization.”
One of the most effective methods of engaging employees is to inform them of how their work, or contributions, affect the company overall, including the bottom line. “This means to educate talented employees about how the business works and creates a profit,” even if they are not a part of management.
Understanding the operational/financial connection between how quickly a department answers the phone, addresses a customer’s issue, and how that affects revenue and gross profit is engaging and motivational. This is especially important for team leaders; it is then their responsibility “to create an employee team that is aware of the connection between individual actions and attitudes, and the company’s financial results.”
Along with this new business strategy companies should be initiating additional employee engagement incentives by participating in corporate responsibility initiatives. PRWeek recently reinforced this concept with a report that noted: “corporate responsibility fosters unity within an organization and creates a link between sustainability and success.”