Eileen Carpenter in an article in Financial Planning describes 6 ways to boost productivity without the costs and issues associated with adding staff.
- Perform a thorough client segmentation analysis and use the results to allocate resources more strategically.
- Develop different client service models that provide the right level of assistance for each client segment.
- Establish a set of investment strategies that are client suitable and efficient to manage.
- Evaluate and consider changing the roles and responsibilities on the team.
- Define the role and goals for new positions before hiring to insure bringing on the right person for the right reasons.
- Invest time in learning how to use current technologies more effectively.
These six steps may avoid the time-consuming and costly process of staffing up unnecessarily.