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Category: Best Practices

The Hidden Value in Your Intangible Assets

Categories: Benchmarking, Best Practices, Workflows
Author: Bobby Hill

This article from The Lab was featured by Strategic Finance.

Ask senior executives to list the strengths of their companies, and you’re likely to hear: “Our people are our greatest asset.” It’s a cliché that’s too vague to be useful, but adding a few words uncovers an insight capable of unleashing a productivity revolution: “Our people and how they work are our greatest assets.”

That brings to mind another cliché: “Our most valuable assets go down the elevator every night.” And while that statement usually applies to employees going home for the night, the case remains the same when employees leave the company: They take with them the knowledge of how they work. Yet most companies don’t see it as valuable enough to retain…

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Four Myths About Bank Productivity

Last year, I stopped in at the retail branch of a large North American bank.

I saw three tellers — and no customers. This misallocation of resources is not unusual. It is a well-intentioned example of one of the four biggest myths and miscalculations prevailing in today’s bank operating practices.

These myths lead to needless downtime, duplicative work and overservice—all of which are equally costly, whether they occur at a bank or on a factory floor…

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Escape Your Vortex of Wasted Work

This article from The Lab was featured by Forbes.

There is a common misperception that knowledge work is unique. Executives are reluctant to accept that roughly two-thirds of activities in the office are similar and repetitious. In the early 1900s, competition forced factory managers to overcome the same reluctance. They had to acknowledge that skilled craftsmen’s activities were similar and repetitious. When they did, an Industrial Revolution began…

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Your Finance Group Is a Value Factory

You might want to tour your company’s factory, distribution center or even its office furniture management group before you read this.

Just as it did in factories, a second dose of Scientific Management would deliver breathtaking levels of value in this knowledge worker population. And it is likely to begin in that most valuable and influential knowledge factory of all — The Finance Group…

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The Massive Tax Of Satisfaction On Knowledge Work

This article from The Lab was featured by Forbes.

At a bank’s contact center, a customer service rep is satisfied. He has just finished helping a bank teller complete a wire transfer.

At an industrial products manufacturer, an inside sales rep is satisfied. She has completed and corrected the information needed to release a customer’s order to the factory for production.

They are satisfied with their work, they will explain, because they are preserving revenue, improving customer satisfaction and making the sales force more productive. To them, this activity is virtuous….

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