It’s a classic business adage: “you can’t manage what you don’t measure.” But, many organizations have never stopped to calculate the costs of operational inefficiencies, errors, turnover, rework and slow ramp-up time in dollars and cents. When they do, the results are often astonishing.
It Costs How MUCH??
Take a Guess . . .
Let’s say you work for a commercial bank with five branches and 500 employees. Your annual turnover rate is 26% and average “ramp-up” (time-to-competency) for a new employee is 12 weeks.
What does that cost you annually to sustain?
Did you guess anything close to $1.8 million? Do you know how much you could save if you reduced your “time-to-competency” from 12 weeks to 8 weeks? Did you guess $320,000?
If those numbers surprise you, you’re not alone. But, those are actual results that line up with hundreds of assessments performed in organizations nationwide. Until you measure and calculate, you don’t know.
What’s Your Company’s Return on Time (ROT)?
Many people forget that stafftime really is money.
• Are you getting the biggest return on your labor dollar investment? • Do your systems ensure maximum people productivity? • Can you accomplish more without adding staff?
Would you like to know your numbers?
Our Assessment:
The first step of The Streamlined Business program is a diagnostic assessment of your current critical operations success factors. Our experienced analysts use a tested questionnaire to gather key inputs from management to identify high-risk areas in operations and quantify potential improvements. We assess the financial impact of issues including:
. turnover and ramp up costs . process inconsistencies, . errors and waste, . long training cycles, . brain drain and knowledge retention, . regulatory compliance.
You can have this analysis done for your entire company or just one workgroup. You can get critical insight fast without extra burden on your management team.
What you get: a personalized analysis report and a dynamic spreadsheet model that you can use to run your own what-if scenarios. The process you’ll go through will provide you insights into areas you may never have considered.
Contact us to see for yourself. Most executives are surprised at how large the numbers are. For under $500 you can get a starter assessment and see for yourself. And with your Financial Assessment in hand, it is easy to prioritize where you should take immediate action.
Email us at info@comprose.com or call 1-800-719-8964 for more information.
