How to Achieve a Higher ROI for Only 5p per Hour

One of the most important metrics used to achieve success is the Return on Investment (ROI). It is a key performance indicator, often referred to as a KPI, and is a calculation that considers the net profit gained from an investment divided by the cost of the initial investment. It measures efficiency and effectiveness, helping organisations, big or small, make informed decisions and allocate resources accordingly. 

A favourable ROI can build confidence and prospects for companies seeking to maximise profits and minimise costs. The HSE reports that investing in health and safety can offer significant benefits for organisations. We will explore these advantages in more detail later.

In this article, we are going to discuss the main areas you can focus on to identify the best investments with the highest return for your company regardless of industry. Discover six ways your organisation can achieve a higher ROI with helpful tips from Shoes For Crews.

1. Implement bottleneck prevention and streamlining techniques

If you are running a factory or facility, consider implementing the following techniques to overcome production bottlenecks:

• Adapt shift schedules accordingly, preferably in the mornings and evenings
• Outsource non-continuous tasks
• Use alternative or green manufacturing equipment
• Reduce waste by controlling bottleneck parts
• Focus on meeting actual demand only
• Increase production capacity
• Maintain a continuous and balanced material flow

For companies that provide services, it is crucial to analyse your processes and test for inefficiencies. Correcting errors ensures tasks are completed on time and without causing overloading or periods of inactivity.  

2. Use low-cost, high return marketing strategies

A sound marketing strategy enables your company to differentiate itself from competitors and grow without diverting too many resources from core operations. By generating leads, making sales and increasing visibility, your team can focus funds on more critical areas.

Some of the most common low-cost marketing strategies to obtain a higher ROI:

• Using social media to build brand awareness 
• Creating infographics for online distribution
• Running PPC (Pay-Per-Click) campaigns
• Promoting your brand with video and interactive content
• Employing a strong, automated email marketing campaign
• Repurposing content to appeal to different audiences

Marketing a physical product differs from promoting a service such as hospitality or transportation. Find the best strategy for your industry by mixing and matching these guidelines to best achieve a higher ROI for your organisation.

3. Invest in automation software  

Similarly, spending time on extra paperwork reduces time available for higher value tasks. To move your company forward and achieve a higher ROI without raising costs, it is essential to save time, regardless of your industry.

This applies to various areas, including payroll, timetable and shift scheduling, marking absences, inventory management and more. One of the primary benefits of using automation software is its ability to enhance communication and strengthen relationships between different departments of your company. A digital platform that facilitates these two components will help to eliminate circuitous communication, slow response times and misplaced or lost information. Digitalising internal communication can boost productivity and improve employee retention. 

4. Have the right team structures 

Many industries encounter comparable workplace issues, but the way they are addressed can have a significant impact. A team that collaborates effectively will allocate sufficient time and attention to important matters and respond appropriately. 

Dealing with challenging situations in a more meaningful manner is the most powerful way to make a positive impact on both your workplace culture and your customers. Qualities such as empathy, resilience, active listening and leadership can be learned. However, having the right team structures and department heads are two effective approaches to delivering both success and a higher ROI for your company.

5. Find trustworthy, dependable suppliers 

If there is any way you can lower your fixed costs without compromising performance, even temporarily, the payoff can be seen through your profits. Choosing trustworthy and reliable service providers can protect the quality of your products and services, increase your ROI as well as promote good relationships with your customers. The longer you work with suppliers you trust, the more likely you will be to receive personalised service, competitive pricing and stronger customer loyalty. This is one reason why at Shoes For Crews, we are committed to providing products that match and exceed your employees’ expectations. 

6. Invest in a health and safety program for employee wellbeing

Accident prevention requires commitment from all areas of your organisation, from senior management to employees on both the sales and manufacturing floors. By being a company that prioritises safety and teamwork, you create a culture of prevention that protects your staff and minimises the financial impact of workplace incidents while simultaneously generating a higher ROI. This, in turn, creates a more secure and productive working environment. 

Investing in training employees to do their jobs safely and correctly, will result in many long-term benefits. At Shoes For Crews, our slip-resistant technology provides the durability and traction your employees need. The patented grip and tread on each of our certified footwear styles will help keep staff safe on their feet for extended periods of time, whether they are operating machinery or interacting with customers. 

Encouraging staff to be aware of risks and report incidents promotes good health in safety practices across the hospitality, manufacturing, facility and public transport industries. When challenges are faced as a team, it is easier to find ways to increase profits and reduce the costly effects of slip, trip and fall accidents.

At Shoes For Crews, we believe in prioritising the safety of your team. Whether they are drivers, ticket officers or a part of manufacturing and facilities crews, we understand your priorities. To ensure that workers can perform their duties effectively and safely, it is essential to provide them with the appropriate footwear. For more information on these suitable styles and sizing options for your industry, get in touch with one of our experts. Or download our Catalogue for more detailed information about one of our specific ranges and their features.