The best businesses are constantly forced to make adaptations to cope with fluctuating markets, evolving technology and changing consumer demands.
There are also differences in the expectations of different generations of employees — employers who ignore these factors can struggle to recruit the fresh talent crucial for survival.
For instance, a recent Deloitte survey showed that millennial employees are attracted to high levels of flexibility in terms of working hours and job duties — whereas older employees might not necessarily prioritise these factors.
With this in mind, here are three ways businesses are adapting to become more effective.
Improving diversity in the workplace is a common challenge for many employers.
Gender and ethnic diversity have made gradual improvements in the UK market — but there’s still a lot of work to be done.
And with 61 per cent of law students being female as opposed to 18 per cent of engineering graduates, the gender divide in certain sectors is obvious.
But defining useful diversity criteria and collecting relevant applicant data is a crucial first step towards making your recruitment process more equitable.
Tactics used to balance the scales include name-blind recruitment and financial support for candidates who might not have the funds to attend interviews.
HR is a crucial function for any business — people are the most important assets, so it’s essential they’re paid on time and their wellbeing is considered.
But traditional HR functions like payroll and tax compliance can be admin-heavy and time-consuming — human resource software can perform the same tasks more accurately with no need for nearly as many staff members.
Outsourced HR services can reduce costs and increase efficiency — they’re a great option for any company looking to streamline service for savings without compromising on service standards.
Specialist software doesn’t mean human HR employees will be replaced completely.
But they might concentrate more on tasks where they can still outperform automated services, like monitoring staff wellbeing and mediating between management and workers.
Businesses are also becoming more aware of the impact the physical work environment has on employee performance and motivation.
One third of workers feel disengaged in the workplace according to a recent report.
And researchers believe that part of this problem stems from dull and dreary office spaces.
Employers who incorporate alternative spaces for teams to meet and collaborate and private areas for individual workers conducting research are ahead of the curve.
This flexibility ensures that the best environments for particular tasks are always available and employees have more control over how and where work is completed.
Inspiring office spaces can make a massive contribution to changing workplace culture and improving job satisfaction and productivity.
These three ways businesses are adapting to become more effective prove that the firm that rests on its laurels loses out.
Has your business adapted to become more effective? Share your stories in the comments section.