THE Top 50 shows a modest increase in combined employment of three per cent for the companies in this year’s survey, like for like against last year.

This is alongside an 11 per cent increase in turnover and a 20 per cent increase in net profits, suggesting that the businesses in this survey are creating some serious efficiencies, successfully increasing their outputs without needing to dramatically increase labour.

As this trend runs cross sector, it is interesting to examine the tendencies which are leading to lean and efficient businesses.

The impact of technology and improved working lives both play a part, but before these factors can have their full impact business owners need to understand the makeup of their businesses – what can be automated which is currently done manually, is the production line configured in the most efficient way it can be, what are the staff members’ gripes and what makes them tick?

Answering these basic questions can aid some big changes.

Let’s focus on staff. Your people are your most important asset. Motivated and talented people boost company loyalty and productivity, making them vital to your business’ success.

One of the best ways to improve employee engagement, whilst making a big difference to your bottom line, is to adopt a benefits strategy.

Importantly, you can develop different tactics for different types of employees – ensuring packages are engaging and relevant to the individuals who work for you.

York Press:

Things to consider include flexible benefits, salary sacrifice arrangements, car schemes, incentive arrangements, bonus schemes, employee communication and engagement, all aspects of employee travel including company cars/vans, fuel provision, mileage recording, and the tax efficient design of car policies.

Putting a plan together which considers all of these items and allows staff access to schemes which make their lives easier, both in and out of work, is a highly effective way to retain those who work hard to make your business what it is.

Get these things right and you’re on the way to helping to create the efficiencies demonstrated by North Yorkshire’s Top 50 SMEs.

For advice on getting this right, speak with BHP’s Employers’ Solutions team.

- Guy Ward, Partner BHP