Most costly workplace issues
Consultants across the nation meet with large and small business alike to help them meet their goals, revealing a myriad of reasons why these organizations fail to meet their goals. Behind them all is cost, and the issues that bleed money out of the bottom line. Here are the most costly workplace issues in the U.S.
Hiring the Wrong Employees
The most costly workplace issue also happens to be the toughest to control. Undereducated or under skilled employees can drain roughly $10 each per day. The best thing you can do is have your hiring managers and HR thoroughly check each resume you receive. It’s a daunting task, but it pays off in the long run.
That’s right, your regular meetings might be holding your earning potential back. Not only does this stop employees from getting their tasks done, but it can also thwart morale for the day. That’s not to say that you shouldn’t have meetings on critical issues and outcomes, but let the minor ones go so your workers can actually work.
Hopefully this isn’t an issue for your business, but problems like sexual harassment at work and a lack of ADA compliance can cost your organization tens of thousands at best. Take the time to go through your policies and ensure your managers are adhering to them. It also helps to speak with HR about these issues.
Just like unproductive meetings, unproductive leaders can nearly halt your employee’s ability to get their jobs done. Failure in leadership comes in many forms, ranging from the verbally abusive to the lazy and simply uncapable. You should be reevaluating your leadership at least twice a year.
It’s never easy to pull the trigger on a difficult business decision, but spending money and time over-analyzing the situation isn’t helping. Skip the extra analysis and take the risk based on regular calculations.
If you rely on a fleet of vehicles or even just a few for deliveries, you run the risk of accidents on the road. Insurance is your best friend here, but having an experienced law professional is also vital. Take the time find a Denver car accident attorney, or one in your area, to help mitigate cost when the inevitable happens.
Another top contributor is called the silo, which is when your teams aren’t communicating at full capacity. This causes valuable information and insights to fall through the gaps. Your teams rely heavily on one another, and that lack of communication is devastating to your projects.
Overspending on Technology
Business, employees, and even consumers love the latest tech. However, each new gadget or software isn’t always something your business needs. Before you upgrade the office with new touchscreen monitors or give your staff their own iPads, think about how each piece of tech fully benefits workflow and performance. What you stand to save by doing so is astronomical.