To run a successful business, there are several vital components. This includes great staff, plenty of clients or customers and perhaps most importantly, productivity. With more than 5.5 million private sector businesses in the UK, having a competitive edge over them is incredibly important and productivity can give you just that.
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Productivity refers to the efficiency of production of the goods you sell or services you offer. It is so important for a business to have good productivity to keep clients and customers happy as you deliver your offerings on time. This will ensure that you retain many customers which is just as important as acquiring new ones. Businesses that retain just 5% of their customers can increase profits by a whopping 25% according to research done by Bain & Company.
So, if your company needs a boost in productivity then this is the article for you. Read on to find out more.
The equipment you have in your office plays a key role in productivity as it allows staff members to complete tasks faster and to a better standard but how can you improve it? One thing that slows staff down is internet speeds and so, getting fibre optic cables is a must. This will provide a more reliable connection and reduce downtime whilst your staff waits for their webpage to load.
You should also be providing each employee with two monitors to improve cross-referencing on different screens. If your employees are restricted to one screen then it will slow them down which may leave them frustrated too.
Frequent meetings with little content should be avoided so that employees can focus their energy on the more important tasks that will drive your business forward. To decide if a meeting is needed or not, consider if the topic of the meeting can simply be done over an email.
If a meeting does go ahead then whoever is leading it should create an agenda with timestamps. With this, meetings can remain focused which should reduce the chances of them running over.
Often employees will work harder when incentivised. This is because they know that they are working for something in particular and they will feel as though their hard work is paying off.
To provide great incentives, first, decide what they have to do to get the prize. This could be hitting targets or going above and beyond to impress clients. What you give them for this can be anything from bonuses to vouchers for experiences.
Making sure the structure of calendars or the office building is organised will help with productivity too. This is because it will make it easier for employees to know exactly what meetings they have and should they need to find an item, they can do so with ease.