The researchers analysed data from more than 150 publicly traded companies, grouped them by business, and ranked them so. Then they took a closer glance in the highest ranking organisations to discover the practices that empowered them to “out produce” their peers.
- have operation-driven cultures where leaders support workers to act on their particular initiative, and promote elevated degrees of team work;
- proactively recognize and develop effective frontline supervisors;
- Invest in instruments and advice to help supervisors better understand their folks and triumph;
- Certainly align functions and responsibilities with the targets essential to implement strategy;
- view requests to add headcount with “healthy skepticism”, and just after exhausting good choices;
- give employees clear goals to assist them focus in the consequences that matter most to the organisation;
- ensure workers possess the right “fit” for their jobs, along with appropriate expertise, skills and equipment to perform;
- use open communication, team work and risktaking to drive innovation.
- Organise work so that you can “run lean”
Australia’s most productive companies possess a clear topdown strategy that cascades into correctly constructed job organisation, the report says.
“All jobs have clear descriptions and aims so that everybody understands just what must get done and how,” and three people never find yourself doing the work of just two.
Strategic and operational characteristics
The report also identifies five key tactical and functional characteristics shared by Australia’s most productive companies. They are:
- Technological sophistication;
- Financial sophistication;
- Operational sophistication;
- Brand and advertising sophistication.