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How to Boost Your Profitability Without Spending Money

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					     How to Boost Your Profitability
              Without Spending Money


                                    The ways in which many companies
                                    deal with their employees is, to put it
                                    bluntly, quite static. Employees are
                                    hired, given a task and expected to
                                    complete     that    task    with    little
                                    consideration given to potential skills
                                    outside of the role for which the
                                    employee was hired. While this
approach might be straightforward, it also represents a failure to capitalize
on the strengths of a given resource. This can ultimately lead to a decrease
in the level of job satisfaction for the individual, resulting in reduced
productivity and a far lower ROI for the hire. What is the best way to solve
this problem? In truth, it requires a dynamic approach to responsibility
structuring that considers the individual employee. Fortunately, given the
advanced level of current time and resource tracking software, it is not
difficult to determine where exactly a given employee should be placed in
order to maximize his or her potential.

For example, say Steve is working on a project as a general coder. He
carries out his tasks well and tracks the time he spends on each individual
segment of the project. However, after a few weeks, it is clear that he is
50% faster when coding one segment of the project over another. By
assigning Steve to primarily code that one particular section, and
reassigning the other tasks to another coder on the team who handles the
additional responsibility with ease, the company has just increased their
productivity on the project without any additional costs. As an added bonus,
Steve likely feels more comfortable in his role as well. It is a win for
everyone.

While this example is rather simplistic, imagine the implication if every
employee is assigned to the tasks at which they are best. It sounds a little
utopian, but in practice it is not too difficult to implement. Ultimately, a little
insight into individual productivity levels across tasks can result in massive
benefits for the company as a whole. Even if you implement this type of
dynamic system on a small test group of employees, the results should be
immediate and measurable. Increase productivity, increase employee
satisfaction, and decrease the possibility of burnout and you will have a
healthy, long-lasting relationship with your employees.

Reference Link: http://www.theicpm.com/blog/item/4677-how-to-boost-
your-profitability-without-spending-money

				
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posted:1/16/2013
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