Wednesday, October 24, 2018

Policies + Practices + Procedures = $$$!

Policies, practices, procedures – all terms you’ve likely heard, and probably things you know you should have for your business. But do you know the difference between them – and more importantly, do you know how they can save AND make you money?
Here is how we define these terms:
  • Policy – an overarching principle, goal, or objective.
  • Practice – a task or action that supports the Policy.
  • Procedure – step-by-step instructions for these specific tasks and actions.

 So for example:
  • Policy – the safety of our guests and staff are of paramount importance on our snowmobile tours.
  • Practice – all of our equipment is checked regularly to ensure it is in proper working order.
  • Procedure – prior to departing with guests, check all engine fluid levels; inspect skis and track for damage; ensure safety/repair kit is fully stocked and stored.

So, how does this earn you money and save you money?  Firstly, clearly defined and implemented policies, practices, and procedures will ultimately provide better and more enjoyable experience for your guests. Happy guests spend more money, stay longer, will come back again, and will tell their friends. All of this is great for your profitability!
Secondly, with clear direction, guidance, and support, your staff will perform better and stick around longer. What happens when you have high-performing, experienced staff? See the first example.
Lastly, we operate in industries that are more prone to injuries and accidents than many others. Staff injuries can result in increased Workers Compensation Board premiums, fines, and litigation. Guest injuries can lead to devastating lawsuits and an equally damaging loss of business.
Creating workplace policy, HR, and safety manuals may not be the most exciting task on your to-do list; but it can pay significant dividends to your business over time. See if you can get started on your own, search for templates online, or consider hiring a company that can create comprehensive and customized manuals for your business.

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