Business owners tend to underestimate the cost of recruiting and retaining the talent needed to grow. In 2022, it was reported that companies spend an average of over $4,683 and about an eighth of the financial year for recruitment and training per new hire. Recruitment costs can add up, especially if your business has a high turnover rate.
Losing top talent is clearly a cost that businesses have to consider. Perhaps the most immediate impact that losing employees has on an organization is lowering team morale. Employees enjoy having a friend or confidant in the workplace and seeing their colleague leave will weaken their connection to the organization. We saw this in mid-2021 as the “Great Resignation” had millions of employees leaving their jobs in droves.
Another benefit is that when employees do move on from the company, it would be easier to find a replacement. This is because more people would want to work at your company to experience the culture. About 77% of employees consider ...
Previously, we’ve talked about how business agility can increase your company’s bottom line by:
lowering costs through improving delivery processes, being more deliberate when choosing projects, as well as reducing churn
increasing revenue through releasing high-quality products, creating feedback loops, and capitalizing opportunities
Today we'll talk about a third benefit: how business agility can increase your company’s bottom line by improving alignment with its customers.
The next topic in our series on Business Agility for your bottom line is how the adoption of business agility practices can help increase your revenue. When it comes to building a profitable organization, a key goal is to increase revenue. Business agility helps an organization’s revenue growth in many ways, here are three:
Put out high-quality products into the market
Accelerate feedback loops to learn from customers
Identify opportunities to capitalize on
Introducing business agility to an organization can have a lot of benefits to a company's bottom line. It can increase revenue, profitability, and employee retention rates. Among these improvements, one change that can often heavily and rapidly affect a company’s bottom line is reducing the cost of delivery.
Business Agility enables a company to reduce cost of delivery through:
improving its delivery processes
becoming more deliberate with its projects
having a willingness to stop
The modern marketplace is constantly evolving. Customers expect a fast return on investment of both their time and money. The complexity of many technology solutions now resides behind easily consumable web interfaces and SaaS services, making it easy to rapidly switch to alternative products. It is easier than ever to “try before you buy”, and if you don’t feel like you are getting the value, try something else. To counter this, consider how introducing Business Agility practices can protect and improve your bottom line.
Whenever the weather allows for it, we like to eat outside. At dinner time in our little courtyard in the city of Toronto, mother nature treated us to a beautiful scene. A few days later it turned into an invaluable lesson...
A mourning dove landed on the fence, looking us straight in the eye. "What a wonderful sight," I thought, "I bet it's eyeing something on our plate." Without breaking the line of sight, the dove flew over to the side of the deck, even closer, testing the boundaries of its comfort zone.
"Roocoo! Roocoo!" A few minutes later mommy dove arrives, a little chick trailing inches behind her. The family reunited, they waggled to an open space a bit further away, while we watched the scene unfold at a safe distance. By now we realized that daddy had scouted the environment, checking our reactions to his proximity. He must have considered us safe, the little one would not be harmed.
To our surprise, the adults took off, leaving the little one alone. Stunne...
Ever since John Allspaw’s “10+ Deploys a Day” and Patrick Debois coining of the term “DevOps” in 2008, DevOps has been transforming businesses in terms of software development and deployment. The DevOps culture has enabled teams from the software development and IT operations to collaborate and develop more reliable products, as well as respond to customer needs, to achieve business goals.
The increasing number of businesses utilizing DevOps platforms to enhance business operations has fuelled demand for advanced IT transformations. In fact, according to PR Newswire, the global DevOps market is projected to be valued at over $23 billion by 2027, with the U.S and Canada as major contributors.
The last decade has seen a lot of companies accelerating their digital transformations to improve software delivery. To keep up with the demands of a rapidly evolving business and technology landscape post-pandemic, the DevOps community continues to improve its practices to i...