During a project for a company facing bankruptcy I implemented a new process that cost the business a total of $160 in "capital" outlay. Integral to the new process was a shift in employee responsibility and accountability. There was resistance at first, but quite quickly the new methodology was embraced wholeheartedly - and the returns to the company:
- increased staff involvement, which lead to further improvement suggestions
- decreased staff turnover as they became engaged to a greater extent AND
- dollar savings of $150,000 in the first year
Combined with other initiatives I implemented this company achieved:
- revenue growth of 37%
- eliminated $1.2 million of costs
- transformed from bankrupt to achieving 5 times industry average net profits
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