If your business was a car, it would be Maserati – quick, sleek but in need of regular maintenance.
Indeed, under the hood of your SME you’ll inevitably find loose valves, a half-full tank of petrol and the kind of engine problems usually reserved for a battered old banger.
Before this analogy runs out of fuel, let’s get to the point – if you want your business-based car to run at an optimal speed, you’ll need to be willing to fix what doesn’t work and replace what’s completely broken.
That’s why we’ve put together this business maintenance. Think of it as the SME version of Kwik Fit you’ve always desired.
- Sort out your payroll
Even in 2018, you’d be amazed at how many people are still using archaic versions of the payroll system. The result is a payroll process that takes you Human Resources an unreasonably long time to complete.
More than this, the idea of keeping your payroll in-house is almost medieval by nowadays standards.
That’s why outsourced payroll which is automated is ideal for the company hoping to catapult themselves into the future this 2018.
Not only is it the ideal way to optimise the productivity of your HR staff (more on that later) but it also ensures that you can pay your staff without having to worry every month. This is payment for the tech age and it’s well worth your investment.
- Optimise productivity
Productivity is the bedrock of good business, but it’s falling every day in the UK.
As reported by the Financial Times, “Productivity is no higher now than it was just before the 2008 financial crisis, in stark contrast to the average annual growth of 2.1 per cent recorded during the decade before the crash. Had the pre-crisis trend persisted, productivity would now be 20 per cent higher.”
While that’s true of the economy as a whole, it doesn’t have to be the case for your business. Keep your employees on their toes with new incentive schemes and other rewards to ensure they want to work for you.
After all, the better their output the more they’ll receive rewards. Who wouldn’t want to buy into that scheme?
- Keep score of your employees
Key Performance Indicators (KPIs) are an ideal way to measure the professional development of your employees. Effectively they’re goals that you set with your employee. These goals are checked on every six months or so and provide your staff with something to work towards.
Many organisations have abused KPIs, making them deliberately difficult to achieve so they can avoid doling out pay rises or promotions, but with the correct application they can be an ideal way to optimise your company.
- Talk to your current customers
Who better to fix up your business than your current customers? They’re the people who experience your service regularly, so send out a questionnaire that’ll persuade them to impart their honest opinions on your company.
And that’s our list! Can you think of any other ways to optimise you SME? Then let us know in the comments below!