Business assessments are a crucial aspect of understanding what your business plan should look like, what's working the way it should, and what isn't.
Think of your business as a car, and a business assessment as the blueprint for its design. While you might know your vehicle's exact make, model, and mileage, you probably can't remember all the details about its construction, such as the exact diameter of each of its hoses. The same goes for small businesses. If you install a hose that's not the exact fit, the car will come screeching to a halt and in this particular analogy, there are hundreds of hoses in varying sizes.
So much happens and so many decisions are made on a monthly basis without a business assessment it can be incredibly difficult for business owners to remember all of the details that can make huge differences in their operations and bottom line.
There's more to a business assessment than meets the eye. Some managers assume a business assessment points out what's wrong with their business. Although that's one perspective, we prefer you use the business assessment as a tool to identify opportunities to grow your business rather than as a weapon against business leaders and or organisation.
More importantly, a business assessment:
How does it Benefit & Why Worthwhile
This is an example of outcomes one of our clients got after we successfully delivered this service to them.
OutsourcingX Co. had a good marketing strategy but lacked focus in their marketing efforts.
OutsourcingX Co. was having extensive issues with its labor force in terms of employee satisfaction, loyalty, retention, productivity and rules compliance. Company wanted to gain a better oversight of day to day activities.
1- Revenues growth was slower than expected.
2- Inability to retain staff made staffing projects difficult and made growth impossible.
Actions Taken: Hadramout Consulting Home (HCH) reviewed composition of current staff roles and skills. Interviewed a cross-section of employees across all positions and skill levels. Analyzed wage rates. Developed families of position descriptions tied directly to skill levels and wage rate ranges for each position. Led a process to assign each existing employee to an appropriate job description. Introduced a new employee performance review process and forms. Made recommendations for pay adjustments to ensure staff was paid for performance and skill level attainment. Recommended changes to the hiring process. Developed a new set of company rules which used graduated penalties to provide consequences for rule breaking and introduced a bonus tied to good behaviors. Developed a process to identify high potential employees. Developed formal training programs to develop and enhance skills. Developed a technology plan to be able to automate many functions of field workers, to improve communication with the home office and to be able to better manage field activities.
The OutsourcingX Co. was able to align employee success to their own success thereby putting them on a path to improve employee retention and increase hiring success. Technology improvements permitted better control of operations and better communications with the teams in the field.