Limited funds. Limited Workforce. Pressure to keep the firm afloat. Pressure to get profitable at the earliest. And if profitable, pressure to increase the avenues of income. These traits describe a small to medium business in a nutshell. Empathizing with the issues that firms in the Small to Medium Business space face on a daily basis, Hubfly attempts to map the pain points of Small to Medium Business to the features of Hubfly’s Intranet.
MAPPING HUBFLY’S INTRANET FEATURES TO THE PAIN PONTS OF SMALL TO MEDIUM BUSINESS
Establishing Accountability: An organizational culture to keep up
Whoever said Responsibility and fun go together must have surely worked for a small to medium business. If you remove accountability or responsibility from the equation, fun flies out the window. And if the folks are not enjoying what they do, they tend to lose interest. The idea of accountability has hardly been emphasized in an Intranet, until now!
Hubfly’s features like Engagement Score, Badges, Profile Views, Contributions and Praise make it easy for managers to give a certain target and track the progress. For example, you can have your employee John Doe to hit the score of 100 engagement points in the quarter. You could incentivize that with a couple pass to a game or a fine dining restaurant. It becomes that easy. With the Organizational Chart in place, it is easy to assign accountability. There is no running away from responsibilities now; there is only shouldering them.
Leveraging Data and Enabling Informed Decision Making
While gut feeling is a good way of initial decision making, firms should eventually resort to decision making based on facts and figures. The only way this could be done is by documenting ideas, success stories, failure stories, why things happened the way they did and how to improve things as the firm moves forward. Besides, the firm would have a lot of policy documents among others to be uploaded and preserved for the future.
Project documents, confidential documents while working for the Defense or something, everything fall into this category. So, with permission trimming or access control, a small to business could establish what would be a great repository of referential documents for the next 4-5 years of functioning. This will provide a meticulous approach to informed decision making.
While the Documents feature deals with lessons learned from the past, the Ideas feature helps provide a planned approach to deciding the future plans of the firm. The combined intelligence of a workforce usually yields great returns.
Hiring Employees: Internal Job Posting
Internal Job Postings are a great way to scout for talent. Either the folks who have been in a role for long can look for a switch or the folks at work might refer the job posting to their connections in the first circle. This is probably the best way to get the right talent for the right job. This is also the most efficient with a really low hiring cost.
Funding/Raising Capital: Proof for Performance
Any investor would need sufficient record that shows the progress of a said small to medium business. Features like Documents and Ideas show the investor that the firm has a bankable workforce and that all the lessons learned have been charted out periodically. This is a great way to show all the milestones to the investor and woo his funding.
Cutting down on paper work: Forms
While this might like a nice to have when it comes to a small to medium business, make no mistake this is an essential feature. Cutting down on paperwork ensures a very short process cycle when it comes to reimbursements and the like. Money is a top notch factor when it comes to small to medium business employees because most of them are paid the market average or perhaps just above average. This means that things like reimbursement, if taken care of properly, can reduce attrition. Also, this builds a very healthy culture. Once in place, the machinery just needs to be oiled once in a while and taken care of so that the wheels keep on rolling