July 27th, 2018

In a digital era where business is constantly growing and competition is increasing, it is important to keep pace and stay on track. Even if you think your company is running smoothly, there is always room for improvement. In fact, seventy-five percent of employers say that two or more hours a day are lost in productivity because employees are distracted. Therefore, company efficiency and productivity is always key when it comes to maintaining a strong business. There are a number of ways to improve efficiency in your workplace, but here are a few tactics that can be easily implemented.

1. Limit Meetings

Scheduling too many meetings can ultimately derail employees from their main focus at work.  Due to this, it is important to reduce the number of meetings every day, or every week. If an employee is in meetings all day long, then what are they really getting accomplished? Employees need to focus on specific work and tasks, especially when there are deadlines. Pulling them away for meetings all day may result in them losing their train of thought, thus having a hard time regaining focus. According to Leslie A. Perlow in her article in the Harvard Business Review, meetings have increased in length and frequency over the past fifty years which affects how people collaborate and how they get their own work done. Here at Webmax, we know how imperative it is to give our employees the time they need to get their work done. For this reason, we have brief meetings at the beginning of each work day to learn about each other’s goals for the day. Remember, every minute in a meeting takes away time from a individual’s time to be creative and efficient.

1. Action Plans

When you have meetings, make sure they end with action plans.  Everyone involved should leave the meeting knowing what their next steps are. They should leave with a punch list of what needs to be accomplished before meeting again.  This keeps everyone on task with a guideline. Not only does it clarify their objectives, but it also creates ownership and accountability. According to “The Open University”, individuals are more likely to contribute realistic suggestions that they have an influence over when they are involved in developing an action plan.  By being involved in the creation of the action plan, they will take on collective ownership for the plan. Once everyone is assigned their own tasks, they will then be accountable for the success of the action plan. Thus, they will put forth their best work.  

1. The Right Tools

Ensure your team members have the right resources and tools readily available to them.  Sending a team member off with a task without providing them the right software or tools elongates projects. Team members then have to learn workarounds or new tools to solve problems.  You wouldn’t expect a chef to work without a pot and pan, so don’t expect your employees to work without providing them with what they need to be successful.

1. Advance Planning

Go into client meetings or phone calls with advance planning.  In other words, you should have a realistic timeline (even if it’s a guess) of accomplishing different steps.  You should also be able to provide them with an outline regarding who will be accomplishing each step. It’s crucial to keep clients, borrowers, or home buyers in the loop.  If they have trusted you to get a job done, it’s up to you to keep them informed and satisfied throughout the process. Planning is key when it comes to company productivity and efficiency; Not having a set plan is much like driving cross country without a GPS. You simply wouldn’t do it.

1. Company Culture

Companies that embrace their employees have better employee loyalty and their employees care about their work.  For example, company outings, team tee shirts, friendly gatherings, cookouts/snacks, attending events all build morale among employees. This helps to bridge the gap between managers and employees.  Specifically, WebMax has an annual Christmas party to recognize their employees for their hard work. The employees also take turns making slow-cooker lunches on Mondays to start their week out right and sometimes bring snacks for everyone to enjoy!  This type of environment is great in order maintain employee relationships and a happy workplace.  Employees deserve to feel happy, comfortable, and appreciated while on the job.

1. Reduce Repetitive Tasks

Repetitive tasks can be mind-numbing and add no value to your employees’ skill set.  Once repetitive tasks are removed or made more efficient, your employees can save time to focus on other, more important projects that drive more meaningful ROI to the company.  This idea is true in several aspects of company efficiency. For example, WebMax’s point-of-sale application, START, is designed specifically to reduce inefficient and unnecessary procedures for mortgage companies. The point-of-sale application integrates with programs that provide automation in real time for verification of assets, employment, and income while allowing lenders to digitally pull an applicant’s credit in real-time. This automation ultimately enhances the borrower’s experience and expedites the loan origination process for the lender. In any workplace, repetition will become tiring and it will result in a lack of interest from your employees.

Overall, there are a multitude of ways to keep companies moving in the right direction, remaining productive and efficient.  It’s all about making the right choices for your team, and doing what’s in the best interest of your client or home buyer.