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Taking Another Look at Your Talent: Why Redeployment Might be Better Than Redundancy

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StrategyDriven Resource Management Article | Taking Another Look at Your Talent: Why Redeployment Might be Better Than RedundancyMany businesses have struggled since March 2020 and are only just returning to their pre-pandemic operations. During the coronavirus crisis, it was common practice for companies to furlough their staff, but this is now coming to an end as restrictions ease. However, this has left many organisations scrambling to cut costs and potentially scale down their operations.

Many are now considering redundancies as business requirements change in the post-Covid world. However, assessing the talent within your organisation and redeploying employees to other departments could prove more beneficial than redundancies. Here’s why.

It Can be Cheaper

Hiring, onboarding and training talent is a costly procedure. Add redundancy payments that you might have to fork out should you lay off an employee to this, and you have a hefty sum of money.

Filling an internal vacancy elsewhere in the business with an employee who already understands your company’s ethos and methods can be a far better option. It allows you to protect your investment in an employee during the hiring process and avoid further payments if you were laying them off. Overall, this can translate to significant savings, even when the training for the new role is factored in.

It Can Boost Morale

Downsizing your operations through redundancy is sometimes necessary. However, it can dramatically impact the morale of the staff members who retain their jobs. This common occurrence is often referred to as “survivor syndrome”. It is characterised by lower morale, engagement, motivation, dedication and productivity.

It is easy to see how this could impact your business as a whole, so it is likely something you will wish to avoid in your company. Redeployment can be an effective strategy to boost morale and motivation in your organisation.

While it is often driven by financial requirements, the practice offers an opportunity for growth for redeployed staff members. Additionally, it reduces the incidence of “survivor syndrome” that would otherwise be rampant with redundancies. Therefore, it can be an effective way to boost productivity and morale.

It Can Make Your Company More Adaptable

During the pandemic, businesses were forced to adapt to a changing climate. Many working practices had to be suspended, and other employees were forced to work remotely from home. For many businesses, this adaptation was a learning opportunity. Many companies sought to use the pandemic as an opportunity to cross-train their employees, bringing new skills into their workforce.

Rapid redeployment will allow your staff to grow and develop their skills and provide them with a better understanding of how other departments function. Ultimately, this can prepare them for additional opportunities that arise in your company and boost your workforce’s adaptability as a whole. This will allow your organisation to roll with the punches better whenever it faces adversity.

Conclusion

In many cases, it can often be a better option to retrain staff members for roles in other areas of your company. At present, many businesses are adapting their operations to a post-Covid world. For many, this means redundancy is a real possibility. However, for the reasons outlined above, it can often pay to redeploy staff instead.

3 Resource Management Tools for Streamlining Efficiency

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StrategyDriven Resource Management Article | 3 Resource Management Tools for Streamlining EfficiencyIt’s a hectic time to be managing a business. The stock market faces high volatility, set to continue throughout the year. Even if your business isn’t public, you’re feeling the ripples of changing trends.

Addressing new problems during the pandemic makes resource management for your business’ usual operations difficult. These issues are human resources nightmares and slow production, putting you off-schedule. If you can’t handle the avalanche of responsibilities and challenges, your business is at risk of failure no matter whether it’s established or starting out.

Thankfully, resource management tools are available to help you. If you’re short-staffed, this software can fill in. Keeping track of everybody remotely is easy with the right technology, too.

To learn more, take a look at this list of three popular resource management tools.

1. A Solution for Every Problem

As an up-and-coming business, it’s hard to keep track of all of your resources and responsibilities. Managing inventory, planning, sales, and human resources as the head of a small business is a lot to ask of one or a few people.

Epicor ERP is the perfect resource capacity planning software to take charge in all those areas. Its wide variety of tools takes a huge amount of pressure off of you.

Managing your business won’t be a disorganized headache anymore with Epicor ERP. Instead, you’ll have everything in one place and maximize productivity. Using this software, you’ll get more out of your workday.

2. Integrate All Your Apps

Many companies rely on a series of popular work apps to conduct business. Young startups at the highest risk for failure are most likely to use these tools. Yet, constantly moving between Google Calendar, Slack servers, Github, and other accounts are hard to manage.

Toggl Plan is a top resource management software that lets you integrate these apps and more. Communicating is easy with Toggl Plan, and your team will work like a well-oiled machine. Toggl is used by some large businesses like Netflix and Airbnb, proving its usefulness.

3. Resource Management in the Design World

Plenty of top resource planning apps work well for businesses in all industries. Communication and human resources needs are common between businesses, and most have some kind of schedule to manage.

Still, businesspeople in industries like architecture and marketing have particular needs.

10,000ft is popular in design fields like these. Its project and resource matching abilities streamline production processes. It has a tracking feature as well to make sure you stick to your timelines.

If you’re a fan of SmartSheet, you’ll probably like 10,000ft. They acquired the company and are planning on integrating it eventually. For right now, it’s a separate service with its own cost.

If you want to give it a go, they offer a free trial.

Maximize Efficiency and Your Success

Now that you know these seven vital resource management tools, you can implement them to optimize your company. Once you’re set up with this software, it’s time to look at improving other areas of your business.

Lucky for you, you’re already in the right place to learn everything you need to know. Click around the site and find the information you need to succeed.

How to Allocate Resources Effectively In a Business Enterprise

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Effective allocation of resources is what forms the crux of a business organisation. There is no way a business can thrive without having the right skills to manage whatever resources it has at its disposal. The scale of operation does not matter; however, what matters is how well you allocate each resource to put them to its best use. Some of the biggest business enterprises have faced catastrophic downfalls owing to their inability to handle the immense bulk of resources. On the other hand, the ones starting from scratch, with nothing but scraps have made it big only with their sheer skill of resource management and colossal intelligence. At the end of the day, there is no point cutting sizable profit if you do not know how to churn the cream to make something more out of it.

What Is an Efficient Allocation Of Resources?

Efficient allocation of resources, by definition, is the process of analysing all the available resources at any given point of time, and devising effective strategies to make the most out of them, keeping in mind short-term as well as long-term goals, in a way that there is minimal wastage and an optimal usage of all the resources.

StrategyDriven Resource Management Article | How to Allocate Resources Effectively In a Business Enterprise | Resource Allocation

There are different types of resources, and the knowledge of each one of them is crucial for a business to blossom. These resources could be related to something as complicated as finances or something very human as the workforce. Also, when we talk about allocating resources, it is not just the duty of the management to chalk out efficacious plans that would cater to the topic at hand. The onus of resource building, management and allocation is upon every individual working within the firm.

What Are the Most Important Resources?

It is difficult to place resources of an organisation into watertight compartments of classification because anything and everything really can be seen as a resource as per the requirements of the company. However, the most important ones, which are more like umbrella terms are- finance, time and workforce. Every business needs trustworthy financial advisors and a team that handles every aspect of it. You need to have the perfect knowledge of where and how your cash flows in the organisation. You need to have all your queries related to your accounts resolved, like what exactly Accounts Receivable Financing is, or how to deal with taxes. Only then can you understand where to allocate the money and how to do that efficiently. The same holds true for time and workforce. Time is precious, and every minute is supremely important. Therefore, you need to divide the work hours in such a way that every minute is utilised to its best. Coming to the workforce, they can easily be termed as one of the biggest assets of your business. Machines can do your job, but human beings are irreplaceable.

Therefore, hire the right team and use every individual’s talents the way they were meant to be used. You cannot use a legal advisor to pose as a psychologist and counsel them for better productivity. Everyone has their jobs cut out for themselves, and it is an inane allocation of the workforce to use people of the wrong profile for a particular task.

How Do You Allocate Resources?

There has been enough talk about what resource allocation is and why it is crucial for the future of a business organisation. We shall now move on to understanding how one could go about identifying their scope and using the same to their favour.

Gauge Your Situation

Everything starts with a holistic understanding of one’s situation and acknowledging it, no matter how arid your resource pool might look. Analyse what your scope is, where your resources come from and flip through the ways you have been utilising these resources for years or months. Once you have clarity of your situation, it is easier to act upon it.

Come Up With a Contingency Plan

An elaborate and extensive planning process is necessary for your business to score well and chart monumental heights of success. You need to plan everything-from hiring the right people for your job to handling finances; everything has to be hassle-free. However, one thing that several of these organisations miss out on is a sound and sensible contingency plan. There has to be a plan B. This might not look like a resource allocation strategy, but think about it before passing a verdict. Having a contingency plan is an assurance that your business will not perish at the face of adversities. You might plan your allocation since day zero, but if one those plans fail, you need a cushion that will absorb the shockwave. Also, discussing contingency plans is a way to segue into the next effective resource allocation strategy.

Be Wary Of Over Allocation

You might have this vast pool from where you draw all your resources, but that does not mean you have to place all of them in one project or person. Distribute them equally and in the amount necessary. Learn the art of making use of all that you have optimally and without overusing them. Saving up on resources will help you build a contingency resource reservoir from where you can draw if your principal plan fails.

Wield the Power of Technology

Technological mushrooming has made it so much easier to forecast your financial year or predict doldrums in sales. Use the power of technology to your benefit. There are tools and software available that can tell you the exact amount, quantity and time you need to allocate for a particular project. Therefore, it would do you good to be smart enough to seek refuge in the innovations of technology and use the same to predict your growth curve using the resources you have at hand.

StrategyDriven Resource Management Article | How to Allocate Resources Effectively In a Business Enterprise | Resource Allocation

There are hundreds and thousands of ways to use your resources effectively. The strategies you follow for a certain type of business might not sit well with a different kind of business. Your genius lies in understanding your situation and implementing ways that should work like a miracle for the growth of your business.

What to look for when hiring college graduates

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StrategyDriven Talent Management Article | What to look for when hiring college graduates

In business, hiring new recruits is crucial to success — they bring fresh thinking and can challenge the existing paradigms of your corporation. A steady stream of prospective employees is likely knocking on your door daily, and even more so around summer time when college and university students finish their final year.

As a recruitment officer, it’s your responsibility to bring in the talent. With so many resumes and applications to decipher, what should you look for, to ensure you interview — and ultimately hire — the best possible candidate?

Evidence of critical and strategic thinking

Use your application process to pose salient questions, requiring candidates to evidence strategic thinking and the ability to address both sides of an argument. You’re not so much looking for the individual’s ethics or values here, but their capacity to form and deliver their point of view in a creative and compelling way.

The ability to work in a team

An applicant’s college experience will illustrate if they are a team player — whether they played a team sport, or performed in college stage shows, you want employees who understand and respect the significance of working together towards a shared goal.

Look for specialized degrees

Most resumes include an abundance of experience, however, you need to learn how to filter out what isn’t relevant and focus on what is useful. While many people will mention all their experiences, if someone only has leadership skills as a secondary skillset and no actual qualification in this area, then you may have to find someone else who does have the qualifications you’re looking for.

If you feel you need more information, then research the institution where they received their further education. While some colleges offer a multitude of degrees, some colleges have a more focused curriculum, so their students can specialize in certain fields. For instance, if you’re looking for a new head teacher, then someone who has studied at NEC (New England College) and undergone a Doctorate of Education (Ed.D.) could have more honed in leadership skills than someone who didn’t.

Resilience

‘Resilience’ is defined as the ability to withstand the pressures of college life, and emerging positive and ready into the professional world. You want to build your company around people who thrive under pressure, rather than falter.

Interpersonal skills, if relevant to your business niche

Not all professions require advanced social skills — indeed, businesses in Silicon Valley are famously seeing past prejudices and assumptions, to hire individuals on the autistic spectrum in their computer technology and software development teams.

However, if the ability to work collaboratively is pivotal to your work then you’ll want to test prospective employees on this skill. Building upon evidence of team and relationship prowess, use the interview to pose challenging questions to delve further — “Tell me about a time you’ve had to manage conflict in a study group?” or “You’ve seen that a friend is going through a bad time, how would you intervene to help?” are both revealing questions to ask.

5 Practical Ways to Increase Staff Productivity

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Every business owner’s dream is to have a team of staff that are highly productive, as this contributes to their success as a business. The reality, however, is that people don’t tend to run on one hundred percent productivity one hundred percent of the time. Luckily, you can still reach a level of productivity that meets your standard if you put a few measures in place. It will require demystifying your staff and for you to figure out what motivates them and how to keep that momentum going on a daily basis. To figure this out, you’ll have to engage in a bit of trial and error and then find what works best for you. Below we discuss five practical ways to increase staff productivity.

Show You Care

One of the ways that you can attempt to improve staff productivity is by showing them that you care about their wellbeing. It may come as a shock to you, or perhaps not so much, to know that a recent survey carried out by the NPD Group found that at least 31 million Americans don’t bother eating breakfast in the morning. Seeing as breakfast is said to be the most important meal of the day, your staff skipping breakfast could result in them having decreased levels of energy and being less able to concentrate. It will ultimately affect their productivity and how well they perform at work. A solution to this problem could be providing free fruit, bread rolls, and tea or coffee every morning if your budget will accommodate it. It should give staff the boost they need to start the day off on the right note and help increase their output. Try and see if you can get a grocery store or restaurant to deliver fresh fruit and bread every morning. You could also get the office secretary or assistant to look for Office Coffee Deals that deliver. Staff should appreciate this for the most part, or at least have something to look forward to every morning.

Offer Support

You usually hire an employee because they seem to be knowledgeable and suitable for the advertised role and have been able to pass the assessment given to them impressively. It, however, doesn’t mean that they won’t need support throughout the time they’re working for you. Consider supporting your staff by providing them with opportunities to progress such as dedicated training to help them perform better if you can afford to squeeze it into your budget. There is a tendency for organizations to focus on training for people in leadership positions. However, staff who are at the incipient stages of their career may need it more. Other ways to support your staff include giving them flexibility, so they have time to de-stress and don’t feel overworked. You could also think about replacing old equipment so they can work better and be understanding when they’re enduring work-related or personal issues. This kind of support is a way to build trust and loyalty amongst your staff.

Give Feedback

You can’t always control the way people will react to criticism. However, ensuring that it’s constructive could go a long way in improving employee productivity. It is a management skill to understand each employee’s unique personality and be able to find a way to provide feedback in a way that encourages and motivates them. Also, make a note to give feedback as regularly as possible and ensure it is detailed enough as well as balanced. Let them know areas in which they’re excelling as well as where they need to improve. Take the time to find out what their challenges are, and again, what support you can offer to help.

Offer Incentives

Offering incentives and rewarding good behavior might help increase work productivity. Not only does it make people feel good when they’re recognized and rewarded for achieving, but it also gives them something to look forward to. Common incentives you can try are bonuses for those who meet targets or free coupons to enjoy some form of entertainment. You could also try gift vouchers at stores that you think they’re likely to shop at. Explore different incentives and see which works best to encourage staff to be more productive. Better still, it might be a good idea to conduct a survey and simply ask staff their preferences. Bear in mind, that incentives alone most likely won’t give you long-term results for increasing productivity. Combining incentives with the opportunity to grow and feel like a valued part of the work community should create more long-lasting results.

Don’t be too strict

Putting too many restrictions in place at an office can make employees feel like they’re working in a jail. While it may be helpful in increasing productivity, it can likewise be counterproductive as it may affect their enthusiasm towards work. An example of this is imposing internet restrictions in the office. There is a plethora of valuable information on the internet in this day and age, and on social networks too. You may then find that allowing them to be free to browse and visit social media may help spark their creativity or give them a wider variety of information. It could improve their work productivity, especially if you’re in the media or digital marketing industry or your company has social media platforms. It is understandable that you don’t want your staff spending valuable office hours liking their friend’s pictures. Remember, however, that staff can be unproductive even with all of the restrictions in place.

To increase productivity, you have to think of ways to create an environment that your staff enjoy being in. Although people have different reasons for joining an organization, they’re more than likely to give it their best when they feel its adding value to their lives. This value could be in the form of money, support, and personal development as well as feeling like they’re a part of something significant. Hopefully, these tips help improve productivity, and you’ll have a happy owner and happy employees.  Ultimately, the most productive people are those who feel deeply connected to the work they do and what it contributes to society.