To really understand the health and performance of your human resources function, I have created a list of the most important HR metrics that will provide a clear picture of how the department is performing. Cost of Hire Ratio Compensation/Benefits to Revenue/Profit (compare each year to industry averages) Employee turnover rate of new hires withinContinue reading “The Most Important HR Metrics that you should be tracking”
Author Archives: Notable Office
Lean Wednesday Tip
“The first step in any business process improvement initiative is to define the problem (s) but to engage in a Lean project you must have top management support.”
Multiple Hats Office Administration Hacks
Whether you are a Startup or an established small business a well run office is critical to the health and culture of the business. As in these types of businesses, wearing many hats is a given but with the simple hacks I’ve noted below you’ll run a smooth operation: Say no to Apple’s (5-10%) discount!Continue reading “Multiple Hats Office Administration Hacks”
Tricks for driving growth and revenue
To drive growth and increase revenue a company must understand current and potential customers and identify uncontested opportunity in the industry. Below are a few tricks for driving growth and revenue: Gather more information from customers that hate you, are apprehensive about you, or don’t know you to identify opportunities to enter into new markets.Continue reading “Tricks for driving growth and revenue”
A Visual Management Approach to Accounts Payable
Purchase order approval audit trails and visual bill entry controls can be an effective way to reduce the time it takes to resolve Accounts Payable errors and keep your vendors happy. Visual management allows for standardized visual controls that are visible to all Accounts Payable (and also accounting team) on how approvals should be obtainedContinue reading “A Visual Management Approach to Accounts Payable”
The Paid vs Unpaid Internship Conundrum
To be paid or not to be paid. That is the question. The debates are fierce in regards to internship compensation. Some consider since interns are learning they are not contributing value to the bottom line but that all depends on the company’s internship program. For example, lets say company ABC prides itself on aContinue reading “The Paid vs Unpaid Internship Conundrum”
Lean Wednesday Tip
“Did you know that if your company leases its space from a multiple office building you can have your key financial representative analyze how utility charges are distributed amongst all tenants. This can help you realize savings and offer a negotiation opportunity based on your company’s utility use.”
On-boarding Employees: Where are the supplies?
Onboarding a new hire is stressful enough. Paperwork needs to be done, work area needs to be set up, et cetera. But no one remembers about supplies. Utilizing Lean Six Sigma methods and tools like 5S, visual management and Kanban to remove office waste is a great way to have a supplies inventory system thatContinue reading “On-boarding Employees: Where are the supplies?”
Continuous Budgeting & The What Ifs
It is always good to be prepared. In business being unprepared for the unexpected could lead to loss of clients, reduced profits, damaged reputation, et cetera. Small business are not exempt from this either. Budgets and Forecasts need to include a reserve for the What ifs, such as, what if the office gets flooded?, whatContinue reading “Continuous Budgeting & The What Ifs”
The Customers that HATE you bring in the most valuable insights
When utilizing the Voice of the Customer to glean insights don’t just target the customers that love you. When you take the time to really listen to the customers that hate you and turn their pains into solutions that is when you actually drive growth for your company. Why target customers that hate you, youContinue reading “The Customers that HATE you bring in the most valuable insights”
Notable 