How Running An Efficient Operation Can Save You Time And Money Everyone wants to be efficient with their time, money, and business operations. We want to do things the right way and the best way, so that we can be productive and responsible with what we’re entrusted. And it seems like there’s always a way to be more efficient and improve. This is especially true when it comes to business operations, and how organizations manage all of their departments and functions. Running an efficient operation that maximizes its opportunities and its employees is challenging, but it plays a critical part in the success of an organization. One key way to do this is to improve your operational efficiency, which is the process of streamlining several core functions to ensure that you’re conducting business in the most efficient way possible. The Benefits Why is operational efficiency helpful? Think about it this way. Most organizations have multiple team members managing various aspects of their HR department. When much of their time and resources are spent on activities that are not essential to their core business, dollars are wasted and important business operations are neglected. Operational efficiency lets you focus on your core business functions, instead of wasting time on non-essential tasks. Implementing an operational efficiency solution can also lead to a 21 percent reduction in HR administrative costs. It does this by simplifying and reducing your organizational expenses, as shown in the chart below. Organizational expenses: Talent selection and onboarding costs. Talent relations costs. Talent development costs. Talent transition costs. Opportunity costs. Technology costs. Taxes and benefits. Gross payroll. Expenses with an operational efficiency solution: Service fee. Taxes and benefits. Gross payroll. Helping, not Replacing Becoming an operationally efficient organization not only can save you money, but it can help you be more strategic. Because you’re not having to worry about the small things that aren’t essential to your overall operations, you can have the time and energy to think and plan strategically to grow your organization. Operational efficiency doesn’t replace your HR department and people, it helps them do their job and be effective and productive. Engaging third-party organizations that offer HR solutions is the easiest way to get to the point where your organization is operationally efficient. The benefits of these solutions are worth it to ensure efficiency, and can save you time and money in the long run. Do you need to improve your operational efficiency? Ned Flynn Ned Flynn is the Senior Manager, Business Development, at Oasis, a Paychex® Company, where he's led sales efforts since 2015. As a graduate of Indiana University, Kelley School of Business, with a Bachelor of Science in Accounting, Ned's unique combination of financial acumen, entrepreneur-ism, and human resources has helped Oasis achieve predictable, consistent, and profitable growth.