Methods for increasing the energy efficiency of induction motors by an appropriate control strategy have been a subject of research during the last years. Several methods for loss minimization have been developed for induction motors operated in a steady state. In recent years, some solutions for the dynamic case have been given as well either using an online or offline optimization approach, implying a certain computational burden, which is undesired in practice. This paper shows that the appropriate application of steady state techniques during transients due to a changing motor torque is a suboptimal strategy with an acceptable performance for efficiency optimization given an induction machine where saturation effects of the main inductance must be considered. The optimization problem is simplified such that a simple suboptimal solution is possible and the quality of the suboptimal solution is investigated by simulations and measurements. The proposed solution is simple, easy to implement, and does not require an online optimization. In addition, the influence of magnetizing induction saturation is considered.