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4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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Following factors play a crucial role in increasing the efficiency of employees at workplace.

Clearly defined roles and responsibilities

Employees need to have well defined roles and responsibilities at the workplace. Individuals need to be clear as to in which all areas they need to contribute their level best and what all skills would help them perform better. They need to be aware of their duties and key responsibility areas. Duplication of work decreases efficiency of employees. Responsibilities ought to be delegated as per expertise, knowledge and interest levels of employees. Job mismatch leads to confusions and individuals eventually lose interest in work.

Effective communication

Effective communication plays an imperative role in increasing efficiency of employees, eventually benefitting the organization. Employees need to interact with each other, discuss their problems, brainstorm ideas and gain from each other’s expertise. They need to have an easy access to their manager’s cabins so that grievances and problems can be addressed immediately.

Even the minutest problem left unattended may become a major cause of trouble later on. Managers need to sit with their team members, monitor their performances, give them correct feedbacks and help them perform better. As a manager, you need to guide your team as to what all additional set of skills would increase their efficiency and help them deliver results on time.

Rules and regulations/Flexible policies

If you expect an employee to work till late on his birthday, he would never perform and end up wasting the entire day. One needs to be logical. Do not ask your employees to work till late unless and until there is an emergency.

Rules and regulations should be same for everyone. Every individual irrespective of his/her designation or level in the hierarchy has to report on time. Allow employees to take small breaks during the day. Let them speak to their colleagues.

Strict rules like switching cell phones at workplace, blocking websites, not allowing employees to get up from their workstation and so on can sometimes irritate an employee, who in due course of time starts hunting for a new job.

Employees need to be satisfied with their jobs. Give a pat on their backs and make them feel that they have the potential to achieve targets before time. Let them feel special and indispensable for the organization. Trust me; nothing would help, if they do not realize it themselves. Self realization is of utmost importance. After all, you can’t keep a check on your employees every time. Trust your employees.

Salaries/Wages

Money is a strong motivating factor for employees. They would never work if you do not release their salaries on time. Do not hold their monthly bills and other reimbursements. Appreciate their performances and reward them suitably.

Bonuses, additional perks, incentives play an effective role in motivating employees to meet deadlines, finish assignments on time and achieve targets on or before time.

Job Security

Job security plays a crucial role in increasing efficiency of employees. Employees would not be able to deliver if they feel insecure at the workplace. Managers need to stand by their team members at the times of crisis and unforeseen circumstances.

Time Management

Encourage employees to manage their time well. Help them plan their day. Ask them to organize their desk once in every week.

Healthy work culture

Employees need a pleasant work environment as they spend maximum part of their day at workplace. Give them the liberty to take some decisions on their own. Superiors should never treat their subordinates as slaves or keep them at arm’s length. They would never respect you. They need to feel happy at the workplace for them to stay positive, happy and confident. Encourage your employees not to participate in nasty office politics, rumours and criticism.

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