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A minimum of 30% of all resources are wasted in the conduct of business! Believe it? n
There are the obvious wastes like material waste, missing supplies and tools, abuse of machinery, unsecured loss of equipment, and undetected quality defects. The list can get quite long. However, there's another area fraught with even bigger waste and that's labor. n
Labor waste is sometimes easy to spot. People standing around obviously not working; uncontrolled interruptions; unplanned and inefficiently led meetings; punishing negative work environment; lack of accountability; and ineffective communications.
So what's the cause of this wasted labor? It comes from a lack of leadership and a lack of management skills and competencies. That's right, if leaders, managers, and supervisors were skilled and competent in leading and managing effectively and efficiently, then much of the labor waste would disappear.
To achieve effective and efficient competencies in the management ranks, top executives, business owners, and leaders also need to practice and model the right work attitudes and behaviors.
Most management level employees are so busy working in their business (making products and supplying services) that they spend almost no time working on their business (systems, processes, and human competencies and capabilities). Working on their business is a long term investment that will pay off handsomely in the future.
The smart management team invests time and resources to develop human competencies and capabilities because doing so has the highest leverage and payoff for the future. Even short term business results can improve dramatically.
Are you investing sufficiently in your employees to build more effective and efficient competencies? Are you investing sufficiently in the development of your own competencies? Either way, your future depends upon that critical investment.
Don't wait for a miracle. Be a person of action and personal growth! Take steps now to increase your investment in building more skills and competencies for yourself and your team.
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