Is slow productivity stopping your business from growing rapidly?
Productivity holds a very important segment in business, most particularly within small companies. If your business is running at maximum productivity, there is scope that you can make it more efficient and profitable, by enabling it to develop and grow. However, there are other factors that can impact productivity, so it’s important that you monitor the efficiency, and discover ways in which you can improve it.
Why know about productivity in business?
Productivity could be in many areas within your business. Within a business environment it relates to the efficiency of your system, machines, or employees, in producing specific outputs. It can also be measured by analyzing your average output over a specific period, and dividing this by the overall costs or resources that were consumed to do so. When businesses are looking at costs and making them more efficient, productivity is a crucial factor and that can help to reduce operating costs.
Ways in which the productivity of your business reduces effectiveness
Across a business a number of factors can damage productivity levels, meaning employees are working less efficiently. Some of which are as follows:
Outdated technology – A stitch in time saves nine
Technology can play an important part in a productive business, but it is vital that you have the most appropriate systems and hardware for the role. If your employees are using outdated equipment, which is time-consuming and unreliable, it will slow down their productivity and in turn cause frustration.
Unhappy workforce – The only way to do great work is to love what you do
Employees who are enthusiastic about their work and like coming to work, are always more productive than unhappy employees. They will suffer from less stress, will be able to communicate with their managers and will have commitment towards the company that makes them work faster and more efficiently.
It’s beneficial to build cordial relationships with your employees and keep them informed of developments, so that they feel valued and a part of your team.
Personal problems – It is not work that kills, but worry
If your employees have issues in their private lives, their work life will face repercussions of it, and this will impact their effectiveness when they are in the office. This can be due to health problems, financial issues, a relationship breakdown or addiction, such as drugs, alcohol or gambling.
As an effective employer, if you understand the needs of your employees, you will be able to handle these issues better and produce a more efficient workforce.
How to measure productivity?
With a majority of your office work focused around computers, it can be hard to analyze productivity effectively, as input and output levels can’t always be measured accurately. Productivity apps can be useful to assign tasks and keep track of work across your team, so that nothing is missed.
The outcomes of projects are a big indicator of productivity, and it is important that you keep an eye on deadlines and budgets to ensure that they are met. Maintaining communication with your employees will ensure that everyone is working on tasks and you can manage the expectations of your client.
With a small business, operating as productively as it possibly can, your clients will be impressed, with the standard and speed of your work and this will lead to, them commissioning on more projects with you or referring you to new customers, which will make the business more profitable and successful.
With these small tips productivity of your small business will boost ten times faster and more effectively than you would an average of 4 to 5 years.