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5 essential tips to accelerate your business performance

25-06-2019   |   by EDITORIAL TEAM   |   Productivity

A successful business unit is a function of strong leadership and great teams. But many organizations fundamentally struggle to build teams that boost business performance consistently. While there could be issues pertaining to organizational structure or other behavioural issues such as demotivation, poor appraisal or expectation mismatch, there could be more pertinent ones detrimental to business growth and performance, unless addressed in time. One must draw inspiration from great brands like Abott India or 3M that ranks as some of the best managed companies in India. Inspiring, because despite of their sheer scale and size of business, they have been able to limit similar business performance issues.
These issues range from a general lack of awareness of company’s goals and strategy to non-inclusive leadership style that typically find employees unaware about the company’s short and long-term goals. Sometimes poor leadership skills in the middle management levels also lead to a major impact on the team morale. Averagely skilled employees are another reason for pulling down performance levels. In many scenarios today, companies increasingly deal with lower business growth owing to an influx of a new generation of workforce equipped with their set of ideas and motivations that also disrupt the dynamism of the work structure.
Identifying core issues is critical but creating a strategy to tackle them is key. While there are several ways to prevent such instances, here are 5 essential tips to accelerate your business performance:

Provide clear direction to teams – All members of the team must be communicated clear and measurable goals by their superiors. Targets must be different for separate teams. A clear understanding of their measurable goal to be achieved will lead to a focussed approach towards work. As a result, working towards a common business objective is finally met.

Identify barriers to success – Get deeper to understand the real reasons behind a sluggish growth rate. Intervene and discuss with the respective teams to streamline their activities and boost their spirits towards a common business goal.

Effective recruitment plan – A fine balance must be strived to achieve right fitment for right jobs. An exhaustive recruitment plan therefore is key to ensuring that specific skill sets are hired to achieve identified goals.

Empower teams while building strategy – Involve teams during strategy discussions. Provide them a clear picture of the industry dynamics and what the business has set out to achieve. Empower them such that they feel important and understand the significance of their roles towards attaining organizational objectives.

Team Building – While several organizations feel that team building activities are expensive ways of leisure but some of these activities are aimed at cross functional bonding such that teams get easy with each other in an informal setting leading a communicative approach in a professional setting. Organizations must invest time and effort in planning these outings.

Understanding teams and their motivations is a manager’s primary responsibility. Addressing any professional issues in time can go a long way in impacting business performance and delivery standards. 

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