Across the world, minimising waste is a hot topic. The decluttering movement is gaining ground, and the world is waking up to the environmental implications of our waste.
In business, there are many examples of waste– and all of them can impact on our bottom line and our psyche.
While many businesses are good at minimising physical waste, business and staff inefficiencies can have an even greater impact on your bottom line.
Here are six ways to minimise waste at work with the potential to whip your business into shape in no time flat (with a little hard work, that is).
Despite more methods of communication than ever before, this doesn’t prevent some messages from getting lost in translation. When communication breaks down, this can have a serious impact on your business, impacting staff morale, your team’s output, and ultimately your customers. There are many ways to improve your team’s communication. Choosing select mediums for communication is one important way. For example, consider platforms such as Slack to streamline your workflows, and minimise the number of emails you send and receive.
Under-servicing can lead to dissatisfied customers, but over-servicing can be just as costly. While it’s great to be accessible to your clients, remember that this comes at a cost to your business. TopLine Comms CEO Heather Baker says over-servicing is the number one profitability killer for service businesses. “We created a level of expectation that simply wasn’t feasible,” she says of her own experience. Utilise a time tracking system, such as Toggl or Clockify, to identify areas where you are over-servicing, and pass this information on to your clients to take back control.
Having defined roles, especially as your business grows, is essential to avoid the duplication of services. But Professor of Organisational Behaviour at London Business School, Dan Cable, says job titles must be flexible and play to each employee’s strengths. “Nowadays organisations need innovation and agility from employees,” he says. “This opens the door for employees to use their personal skills to adapt the job, and the job title, around their strengths.” Strike a balance by continuing to set KPIs, but taking a less rigid approach to the job descriptions of old.
A matter of priorities
Time management expert Peter Turla says, “Managing your time without setting priorities is like shooting randomly and calling whatever you hit the target.” It can be the difference between success and mediocrity. Your business needs to clearly define what high value work is for your brand, and ensure your leaders are setting clearly parameters and direction around this. Consider how you’re using your time and talents, and be strategic when prioritising your tasks to minimise waste.
Act on ideas
A company culture that promotes not only idea generation, but also idea execution, is crucial. Without the latter, your team’s talents and ideas are wasted. While experimentation is not without risks of its own, chief innovation officer of Rightpoint Greg Raiz says embracing risk must become part of a company’s “long-term culture” if it is to remain innovative. “The overnight disruptive success of the iPhone, Google, Amazon and Netflix all took more than a decade,” he says. Failure to leverage new ideas and networks in real time can create a culture of living in the past and doing what is safe, to the detriment of your brand.
Plan your events
While there is a strong push for more investment in professional development and marketing opportunities within many companies, it is important that these opportunities do not result in financial waste. When considering expos, tradeshows, workshops and other profile-raising and professional development options, consider what you or your employees will take out of this. Ensure that you clearly define and plan out how you will leverage your attendance in the real world. Where you can’t define these benefits, such opportunities are best avoided.
Minimising any business’ waste in a meaningful and holistic way requires work, but consider the far greater cost of not doing this work. This work should begin with a review of your business in order to identify the greatest areas of waste. Nevertheless, small changes count. Ask yourself: What is one small change I can make to my company’s operations to minimise our waste? Then, make the switch. Take the small wins, and plan for a bigger overhaul that incorporates all of these steps.