By the term “business productivity” we are actually referring to a measure of how successfully capital and labor are converted into services and products. We mainly visualize it as the amount of output per hour that can be produced by your company. For the majority of companies, the higher production rate is always promoted. Consequently, many companies currently want to do more manufacturing with less resource consumption.
Why productivity is important to companies?
It is extremely important for any company to keep its doors open, as it will be able to produce an increasing number of items without increasing prices, and do so by increasing productivity. This offers the potential to increase profits through more sales. Increased productivity in business will increase a company’s profit margin, aside from increasing its overall profits. By the term “profit margin” we mean the measurement of the profit a company makes for every dollar spent on it.
Increased productivity will allow any business to thrive. Sometimes managers are not in a position to grow the business or take a risk in case the business loses money or just makes ends meet. Businesses will be able to obtain the funds necessary to take some calculated risks, make investments, and pursue new projects. Increased productivity will also help increase incentives to hire new employees as well as purchase brand new equipment.
3. Satisfy customer demand
Sometimes small businesses have to face some demands that come and go randomly, and this makes it quite difficult for them to plan exactly how much equipment and how many workers are needed. Fortunately, increased productivity allows the company to respond to changing demand without having to hire new employees.
It is possible to increase the level of competition in the market by increasing business productivity. This will help any business encourage other organizations to improve productivity as well, which will definitely lead to healthy competition. In fact, this kind of competitiveness will be able to minimize prices significantly, which would definitely benefit consumers and also attract new consumers to the market.
Tips to increase business productivity:
1. Highlight the items on the to-do list
It is advisable to go through your list so that you can identify the most important items. You should always place the essential tasks at the top, while the long-term tasks can be placed on another list so that you don’t get confused in the long run.
2. Complete the least important tasks as quickly as possible
Each to-do list contains things you won’t find interest in. Consequently, this leads to more stress and anxiety compared to the other jobs. Therefore, try to complete these projects as soon as possible. In fact, it is a good idea to finish them before lunch.
3. Perform one specific job at a time
A fantastic way to get tasks done would be to do several of them at the same time. However, studies have shown that doing multiple tasks at once decreases your productivity. Therefore, perform only one task until it is completed, and then proceed to the next one.
4. Keep healthy snacks available
Try to overcome each challenge while staying productive throughout the day. It is impossible to do a job flawlessly when you feel hungry. So make sure you have some healthy snacks available in your office that will help satisfy your taste buds while increasing your company’s productivity.
Video conferencing has done a lot to increase business productivity, and compared to traditional meetings, it’s possible to video conference over the internet anytime, anywhere. Unlike before, you no longer have to invest a lot of time in organizing your conference. You can easily start a video conference on your smartphone, PC or any other mobile device by downloading some trusted video conferencing apps like ezTalks Meetings, which have become very popular at the moment.
6. Give your team a clear direction from the very beginning
Although you are a business person, you can definitely do something on your own, your team members will be able to help you accomplish much more. However, your company’s productivity can still be affected if your employees have to constantly ask your questions while you work. Instead, it’s a smart idea to give them clear instructions on the tasks and projects at hand, allowing them to work independently and seek your help only when absolutely necessary.
Conclusion
In general, it is fair to say that employees like to be appreciated for the work they do. The gaps in communication can be bridged by any business productivity app, and you can easily communicate to every member of your team that you value their work. This will definitely lead to increased business productivity in the long run.