How to Leverage Manpower for Business Transformation?
Most businesses keep on searching for different ways to achieve exponential growth. There are a lot of factors involved in the transformation of a business. One factor that can be often overlooked is the empowering of the existing manpower. Implementation of the following practices can lead to the transformation of the human resource, which can lead to the opening of new avenues of growth for a company:
Training, measuring and rewarding
The finest way to empower individuals is to reskill them. The newly learnt skill will also be a testament to the amount of importance and care that a company gives to each one of its employees.
Once reskilled, the managers must start monitoring the growth of the individuals and start rewarding them based on their performance. The top performers can be rewarded with quarterly appraisals.
Most successful startups have been using frequent appraisals as a means for better retention of quality workers. These incentives can prove to be a great morale booster and also lead to a healthy competition among the team members.
Communicating in a transparent manner
The employees in an organization must build trust among each other through an open and honest communication.
The members of a team should be able to freely access any sort of information that is related to their team members and relevant to the projects that they work on.
A better understanding of the underlying tasks will also enable them to come up with new ideas for generating better results.
Building a new organizational structure
If the points mentioned above do not lead to any substantial change in the outcomes, then it may actually be better to re-imagine the entire organizational structure.
The restructuring must be done to provide greater autonomy to the managers. There must be a freedom of choice in the way work is managed and executed.
The ease in flow of information will allow the managers to execute the ideas that are suggested by the team members, which could end up optimizing the monotonous tasks. The better utilization of time will again lead to improved results.
A steady growth is essentially not something that the product-based companies aspire for, but it tends to become a reality over time. They aspire to become market leaders in their domains that keep raising the bar, and also wish to become a source of envy for their competitors. Therefore, they must keep on finding new ways to make their dream of continuous exponential growth turn into reality. Transforming the manpower can act as a great launch pad, and an important milestone on this otherwise onerous journey.