In times of crisis, the market tends to adopt a strategy of retraction under the premise that self-preservation will take place through caution, reducing “costs,” and cutting personnel. But is this the best way? We have observed that this posture is inefficient in combating the most complicated economic moments and weakens the structures of companies, putting them in a situation of constant crisis management and at the mercy of new market variations.
Therefore, process management handled by great lakes advisory for example assumes a fundamental role in the organization of companies, especially in the phases when budgets take a long time to close or even when those old contracts are no longer renewed thanks to the crisis. We list below six immediate benefits of this type of management that are the best ways for your company to go through the phases of market instability in an effective and well-structured way:
- Loss Reduction
Losses are responsible for a good portion of companies’ expenses since they represent a waste of materials, equipment, and employees’ time. Process management contributes to the correct execution of the steps – validated by the sector manager – and reduces rework since all the necessary procedures for executing a task are duly recorded and within reach of the employee. Thus, both physical losses (raw material, equipment, etc.) and the waste of time in the poor execution of tasks or the search for solutions for specific episodes resulting from this poor execution.
- Increase In Productivity
Directly linked to the reduction of losses, the increase in productivity is promoted thanks to the registration and application of the correct and optimized process flows. With the processes recorded correctly, execution becomes more efficient, reducing rework and allowing each employee to perform a more significant number of tasks in a shorter period. Linked to automated process management systems, this increase in productivity becomes measurable, and resource management becomes more dynamic and efficient.
- Talent Maintenance
Individual talents are essential for building an effective team. In a company that practices process management, these talents are evident and gain more space to be effective. With all the processes mapped, the manager can adequately identify the most suitable tasks for each employee. In this way, you combat the misallocation of efforts to perform tasks in which that employee is not proficient and overloaded.
- Record Of Efficient Processes
It is widespread for the processes of a sector to be clear in the mind of one or two team employees. However, in their absence or when a punctual and immediate decision is necessary, the other employees do not have access to this information and end up performing the tasks inefficiently and incorrectly. Process management acts directly on this deficiency, recording the procedures performed by all employees in dynamic and easily accessible documents. This allows everyone to have access to the stream. With this record, the company does not lose the knowledge and practices it adopts, whether in the absence, removal, or termination of key employees.
- Power Of Management
With all processes mapped and recorded, managers can see the complexity of the company, identifying bottlenecks that need intervention or restructuring. Process management still manifests all the complexity of the sectors to highlight a large amount of work that is often hidden in routine activities and overlooked by the company’s directors.