The BCG recommends not only looking into which services you provide, but also into who is providing them. By ensuring that skilled staff members aren’t tied up with tasks beneath their pay grade, you can keep your labour force efficient and make sure expert workers are assigned more complicated tasks.
A previous BCG survey found that over the past 15 years companies have expanded management procedures by up to 350%. The BCG says the increase has had two side-effects: managers spending more time writing reports, sitting in meetings and spending less time with staff, and the hiring of more managers to supervise smaller teams. Removing some of these unnecessary layers reduces costs and increases efficiency.
According to the BCG, increased productivity is directly linked to increased employee engagement. A BSG survey showed companies in the top quartile for engagement enjoyed a more productive and profitable workforce, with fewer safety incidents and increased customer loyalty. The BCG says a focus on personal motivators, such as employee recognition, and performance disciplines such as up-skilling programs, talent management and career development, can help increase employee engagement.
Despite the best intentions, more than 70% of change programs fail because of poorly-defined goals, poor management and a general lack of commitment, BCG reports. The group recommends a disciplined attitude to innovation: give individuals the ability and authority to succeed but set distinct milestones and take corrective action when initiatives fall behind. The BCG also encourages keeping the key stakeholders in the loop throughout the process.
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