Maintaining Workforce Resources
We all know that reducing costs and overhead is usually the first response of a business facing a contracting market. We’ve seen it firsthand. But cost-cutting is never simple, and organizations must understand how to trim costs while maintaining a competitive edge, and staying agile enough to take advantage of the market once it begins to bounce back.
Businesses that understand this positioning know that slashing costs in some areas doesn’t mean you stop investing in others. Success comes from identifying the areas that generate the greatest results, and making decisions on how they can be supported and enhanced to generate even stronger returns.
Cutbacks and investments should go hand in hand. It is a timely reminder of the 80/20 rule: 20 percent of your operations produce 80 percent of your results. Inevitably this 20 percent involves your people and the way they work with customers.
Staying close to customers is critical in all operating climates. It becomes even more important when conditions are tough. Maintaining and improving customer relationships increases customer loyalty and creates opportunities for new and repeat orders. It also makes it harder for competitors to get a foot in the door.
These same rules apply to your workforce. Equipping people with the resources they need to improve the way they communicate and stay close to customers helps improve productivity and create opportunities. It also helps boost morale and improve retention in an up-market.
The ShoreTel team understands the business needs of today’s global marketplace, and included key enhancements in ShoreTel 9 that enable mobile and desktop users to stay better informed about the needs of customers and colleagues. This upgrade to our award-winning software – provided free to existing licence holders – provides users with highly personalised and highly efficient unified communications resources that transform the way they work and help them do more without compromising business agility.
When a business’s productivity rate is high, success continues to follow. Business investments that produce real returns are vital to this success, and postponing them until conditions improve carries significant risk. Making a positive decision in this area can help turn a business around – I’ve witnessed it on many occasions. And in my experience, proactively investing wisely can be more important than reactively making cuts to your balance sheet.