(highlight:: The first thing to do before you talk to them though is decide what you mean by "more efficient". Those words don't actually mean anything concrete. Unless you can tell them specifically what you want them to do more of/less of/differently, you have no hope of actually seeing useful change.
So, first, understand yourself what needs to be done, then communicate that to the team. I'd also probably be honest about the possible pressures behind the need to do this. Don't be all dramatic and say, "ROI or you're fired" or anything like that, but the team should know that fiscal realities are at play in the company and you want to make sure the value of your team is beyond question.)
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