Three Mid-Sized Business Operations Strategies to Inspire Organizational Growth

 

The mid-sized business segment in the United States (U.S.) occupies a vast space characterized by significant industry diversity, major revenue generation, and a workforce that’s over 44 million strong. And as the National Center for the Middle Market reports, the mid-market segment consistently outperforms other segments in the economy. 

Within this wide-open landscape, mid-sized organizations have a huge opportunity to harness their own potential and grow their businesses. But while setting a growth objective might be straightforward in theory, it’s a little more complex in practice. That’s because business growth requires laying the groundwork for it first with the right strategy and tools. 

If growth is a top priority for your organization, here are three proven growth strategies that you can begin to operationalize now to help you realize your goals.

1. Aim for operational efficiency

One of the best steps you can take on the path to growth is to streamline the everyday tasks and processes that take up the most time and energy in your organization. Continuing to rely on time-consuming and error-prone manual workflows hurts any gains you might try to make in efficiency and productivity, and ties up the resources you should be putting toward your growth initiatives. 

Operational efficiency for mid-sized organizations comes in large part from automating common workflows, especially the administrative-heavy workflows related to human resources (HR) and workforce management. Automation frees your HR team and people managers from many tedious but otherwise routine tasks, such as data entry, filing paperwork, and searching for and updating information in multiple places. With the time they’ve earned back, they can focus on strategic tasks like recruiting and hiring top talent and developing your entire workforce with the skills your organization needs to meet its growth objectives. 

Instead of staying stuck behind the scenes managing a host of low-value, back-office processes, operational efficiency achieved with the help of process automation enables HR and people managers to become key, strategic players in business growth.  

2. Become change-resilient

When your organization handles change management well, your growth plans can carry forward even in the midst of a market shift or an unforeseen crisis. But when your organization lacks the tools, processes, or information to deal with change effectively, your business goals can quickly get sidelined while you deal with structural and workforce problems. 

Making your organization resilient in the face of change is possible with a human capital management (HCM) system built on a role-based architecture. The system can give you the real-time insights you need into your organizational structure so you can better understand which roles need to be filled and which skills gaps may exist, as well as forecast future workforce needs based on growth objectives. With accurate and flexible organizational and role-based information at your fingertips, you can make smarter recruiting and hiring, promotion, and employee development and retention decisions that can help you navigate change effectively.

Instead of struggling with change, an HCM system can help you power through it by giving you the real-time analysis, data, and scalability you need to manage change with confidence and drive business growth — no matter what’s happening inside or outside the organization. 

3. Create an innovative culture

Innovation strategy lies at the heart of business growth since the next idea that comes out of your organization might be the big one that propels your business forward. But if your company culture isn’t friendly to the creative process or shies away from technology solutions, then it’s much harder to strike upon those innovative ideas that can help your organization gain a competitive edge.

Building a culture of product innovation starts at the employee level. Empowering employees to ask questions, give feedback, identify client problems, and come up with solutions shows them you value their experience and ideas. Not every idea will pan out, but some will — and being vocal about the positive outcomes or results of those ideas reinforce your organization’s commitment to innovation and encourages other employees to think creatively too. Adopting new technologies like an HCM system with automated capabilities is another way to seed innovation. By turning over many of your processes to the system, you can further shift your organization away from the drudgery of operational management and toward the excitement and reward of new ideas, products, and solutions. 

Instead of being content with the status quo, you can create a more innovative culture in your organization with an automated HCM system that helps unleash the kind of employee creativity that’s needed to grow your business. 

Seize opportunities

Accelerating and growing your mid-sized business is dependent on the right strategy and tools that can free up people and resources for the high-value work that helps your organization reach its goals. Through operational efficiency, resilience to change, and a culture of product innovation, your organization can better position itself to grow and expand and earn a competitive advantage while doing so. 

If growth is your goal, we are here to support you with efficient, accurate, and cost-effective workforce management solutions that give you the time and focus you need to meet your business objectives. To learn more about SyncHR, click here.

 

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