Real-Time Insights: Time to Improve Business Performance
Today many companies are going “back to basics” with a renewed focus on core operating costs. Having an efficient and high performing business is a critical factor in any company’s success more than ever. Being able to adapt to the changing times, keep up with the new operating environment, processes, and technology is vital. There are many ways to adapt and survive, whether that is analysing the efficiency of processes, redesigning work to improve customer loyalty and satisfaction, but not without using a system where you can see how things are going on in the company as they happen, in real-time.
Insights: Why are They Important?
Process insights are essential to business performance as it can show you where the bottlenecks are, what areas you can improve on and how to increase productivity. There are several areas where businesses fail to get maximum performance. Below are the most common mistakes companies make when setting performance goals.
There are two reasons why companies fail with poor targets, they are either too hard, and the employees do not try to hit them, or they’re too easy and they do not improve the business performance. This means you need to set targets that motivate yet push enough to improve.
Lack of transparency and simplicity
If you set goals but do not tell your employees, or explain what you are working towards, it can leave a sense of demotivation. That makes your employees question the reasons as to why they are doing the work, as they cannot see the bigger picture.
Lack of management engagement and communication
Having frequent catch-ups and meetings with your manager always helps improve productivity and realign the goals of your employee and their role within the team. It also sends the message that the employee is respected within their role and for their contribution to the business. It helps resolve problems and identify what can be done differently to improve efficiency. Additionally, communication is vital to ensure you know where your employees are at, how they are working, and if and where you can improve and assist.
Lack of significance
Getting your employees to set their own targets and goals results in higher productivity as they set targets which revolve around their day-to-day job and personal objectives. Targets that are set solely by higher management and hold no significance to the employees’ job role or usual tasks can result in lack of motivation and productivity.
Monitor Process, Activity, and User Performances
Using a unified process and content management system will enable you to gather real-time insights and process performances of your business. Business Process Management systems help to analyse employee engagement using KPI metrics and content use statistics. You can have a perfect indicator of employees’ effort towards achieving performance targets.
You can view and run reports on areas such as task or process durations, and then set or adjust key performance indicators for the tasks. This will help you streamline in certain areas, work out where you can improve, and potentially what areas can be removed completely.
As well as monitoring process performance, using a unified content and process management system can guarantee the organisation getting a structure in place for daily tasks. Employees benefit having everything in one system, as all processes, procedures, policies, training materials and daily tasks are in one location. Monitoring and reviewing real-time insights into your business’ process performances will help you improve overall business performance.