A satisfied customer is a happy customer and by understanding the benefits of six sigma you will be one step closer to improving the customer experience and achieving customer loyalty.
The Six Sigma methodology dates back to the 1980s when the Motorola Corporation found it was a highly effective means of reducing defects. Given its conception in a multinational corporation’s boardroom, Six Sigma was primarily adopted by large organizations in its early years. They seemed to have complex operations and millions of moving parts that demanded a means of enhancing efficiency.
But Six Sigma has proven to be as relevant for small businesses as it is for global conglomerates. Here are some of the most important benefits your organization stands to gain from adopting Six Sigma.
1. Quality Improvement
Six Sigma defines a defect as anything that is not within your customer’s expectations. The specific nature of a defect will therefore vary from one industry and company to the next. Every business will nevertheless know a defect when they see it.
Six Sigma compels small businesses to identify and minimize defects. This leads to a progressive improvement in process and product. Eventually, only a tiny proportion of customers will experience dissatisfaction.
2. Continuous Innovation
Innovation is a crucial ingredient for business success. It’s arguably more important for small enterprises than it is for giant organizations. Innovation is often what gives small businesses the edge they need to compete with their bigger and more established rivals. It’s vital to promoting business growth and preventing stagnation.
Six Sigma promotes collaboration and teamwork. It drives new insights and ideas as the business strives to find better product and service delivery methods. Teams are more focused on possibilities and solutions rather than rules and limitations.
3. Sustained Revenue Growth
A consistently high-quality experience powered by continuous innovation can only lead to customer delight. The end result of customer satisfaction is a sustained increase in revenue over the long-term thanks to referrals and word of mouth.
This means larger profits, better shareholder return, higher employee remuneration, and a positive work atmosphere overall.
4. Lower Costs
By improving quality, enhancing efficiency, and growing revenue, Six Sigma inevitably leads to an improvement in the return on investment (ROI). Money that was previously wasted through weak products and under-optimized processes can now be made available to other projects.
For small businesses that don’t enjoy the deep pockets of multinational corporations, each saving, no matter how small, is significant.
5. Employee Wellbeing
Process and product consistency, protocol, and improvement have an impact on employee wellbeing and safety. Developing the ability to remunerate your staff better is just one way your employees stand to gain.
You are likely to see better working hours, employees leaving on time, and reduced staff overtime. Studies have shown that workers with excellent work-life balance are more productive and deliver more value for the business.
6. Boosts Customer Confidence
Six Sigma is focused on improving the customer experience. By streamlining processes and improving customer satisfaction, you better the view your customers have of the brand. In any case, just the mention on your website or email signature that your business applies Six Sigma gives people confidence in you.
Six Sigma is a statement that you take quality seriously and are ready to do what it takes.
When you apply Six Sigma to your business, you drive your processes to a high-quality level. You may not intend for the Six Sigma implementation to affect your compliance. However, high standards will place your business in a great position to satisfy laws and regulations. After all, laws and regulations are often about safeguarding consumer interest.
The Six Sigma methodology can be applied to organizations of all sizes. Take your small business to the next level by applying the principles of Six Sigma today.