How to Improve Business Productivity
If your firm’s productivity has dipped, you’re not imagining things. The U.S. Bureau of Labor Statistics says the total factor productivity (TFP) decreased by 1.2% in 2022. This means workers produced less work per work hour last year.
Unfortunately, the less work produced, the lower a company’s profits. It can also result in client loss or litigation if contract breaches occur (e.g., not meeting the deadline).
The good news is that you can avoid such issues and boost business productivity instead. This guide will tell you how, so read on.
Boost Employee Engagement
First, let’s answer the question, what is employee engagement?
Employee engagement describes how enthusiastic and dedicated a worker is to their job. The more engaged employees are, the more they care about their work and performance. Thus, engaged employees are more productive and instrumental to their company’s success.
Unfortunately, a 2022 Gallup poll found that engaged workers only account for 32% of the U.S. workforce. Conversely, almost 2 in 10 (18%) are actively disengaged.
To improve company productivity, start by making your people more engaged. Do so by always appreciating, recognizing, and thanking them for their hard work. Prioritize their wellness and consider offering remote work or flexible schedules, too.
Remind Everyone to Take Breaks
This may sound counterintuitive, but it’s not; taking breaks can improve productivity.
That’s according to researchers. They say 10-minute or shorter breaks per hour of work can ease fatigue and boost performance. These mini-breaks may also increase energy levels, helping people focus and complete tasks.
Automate Repetitive Tasks
When done manually, repetitive tasks eat and waste lots of time in the workplace. Examples are data entry, email and social media marketing, and invoicing, to name some. Since they’re time consumers, they also kill productivity.
You can’t avoid those time-wasting tasks, as they still play vital roles in your firm. But you should at least automate them with software. This frees up time for you and your people to be more productive and do what everyone does best.
Invest in Better Technology
Aside from automation, time-tracking and collaboration apps can also help raise productivity. With these, you and your team can stay on top of projects and work efficiently together.
Upgrading information technology (IT) should also be part of your productive business strategy. This is especially vital if your current system is old and prone to unplanned downtimes. Such incidents kill productivity since they can cause computers to fail.
IT upgrades can also protect your firm’s productivity and assets from cybercrime. Data breaches alone affected 422 million people in the U.S. in 2022. Ransomware can also render computers unusable until victims pay the ransom.
All that should prompt you to invest in a better IT system for your firm.
Improve Business Productivity With These Tactics
Remember: Business productivity is the primary driver of profitability. Without the former, the latter won’t exist either.
So, as early as today, follow our tips on making your employees more engaged and remind them to take breaks. Automate tasks as well, and upgrade your IT systems. All these can help boost your company’s productivity and, ultimately, its profitability.
Need more employee engagement ideas? Then check out our guide on how to help them have better mental health!