Your business is growing. It needs more capability to service clients, so you do what most businesses do. You start an expensive recruitment process.
The issue is whether this is the right strategy in the first place. In the case of one client, it wasn’t. Indeed, adopting a Plan B saved this client a whopping $280,000.
This client thought they needed two positions filled in Senior roles. We went to market twice to no avail, so as efficiency experts we came up with a Plan B that would solve the problem and save the business heaps of cash.
The benefits of 360 reviews
We started by conducting 360 reviews with the Executive team to further understand their roles, what their challenges are and what their thoughts were on how things could perform better. Middle management was then asked the same questions as well as a select few other employees for some further exploration.
Each manager and employee were asked these questions and the results were assessed:
- Is this person in the right role? If not, what role would better suit them?
- Does this person have the right skill set for the role they’re performing?
- Does this person like their role? If not, why not?
- What more can this person offer through talent that hasn’t been identified?
- Is this person a cultural fit?
After the assessment, three straightforward recommendations were made, which our client implemented:
Make an Executive Manager redundant because he was unhappy and causing angst among his team.
- Restructure the Executive Manager’s team by moving one of his direct reports to team leader who had the skills to perform.
- Fast track two other employees to senior roles who had the skills to perform.
So how did it go?
These changes enabled the business to save more than $280,000. We did so not by recruiting new people, but by having an efficiency expert objectively evaluate the skills and expertise already in the business—skills and expertise not being tapped into.
The removal of the unhappy Executive Manager also increased morale. Employees were thrilled with the opportunities to upskill. Productivity increased, and while I was working on the solution, management was free to focus on their core business to make money.
It doesn’t get much better than that now does it?