No need to work harder, work better: 7 ways to improve your company’s productivity
In business, the main thing is not hard work, but the result. We constantly hear about how businessmen work hard from morning to night, but often cannot evaluate the results in numbers. Never stop looking for ways to make your work more efficient and not waste your personal time. Also, pay attention to the productivity, efficiency, and engagement of your team.
Most employees in companies are paid hourly regardless of productivity. This is terribly unfair to me. Time wasted, and the result is much weaker than it could be. And you also paid for it.
Even business owners can make this mistake. For some reason, they think that if they had more time, they would have achieved better results.
In vain are you trying to calculate something. You don’t need to work harder and longer either. Trust me, there are other ways to be more productive, and your employees will be more motivated to grow your business.
Set relevant targets for all key employees
The first benefit of this approach is that it forces you to quantify your business goals at all levels. Employees will know exactly what is expected of them, and not wipe their pants aimlessly in the workplace. Progress (or lack of it) will clearly show you what to look for.
These metrics are commonly referred to as metrics. The hallmark of a good metric is that it’s easy to change and relate directly to results rather than hours worked. For example, for a seller, the metric should show the amount of profit or the flow of new customers.
Introduce a reward system to achieve real results. It doesn’t have to be big cash bonuses. Recent research suggests that people respond well to peer recognition or special rewards.
As a business owner, you must realize that incentives are about growing your business, getting more customers, more profits. But there is less work.
Bonuses and other types of incentives can improve motivation and return. These are the things that are difficult to measure directly. A Gallup study found that 70% of employees are completely motivated. They don’t care what happens to your business. This is a huge potential that can be unleashed with just a little extra incentive.
Determine where to spend your time (80/20 rule)
The benefits of this rule, also known as the Pareto principle , have already been proven in many companies. It takes only 20% of the time to get 80% of the result.
You can never grant all requests for help. Therefore, it is important to prioritize. Where will your efforts be most beneficial? Anything else will only create unnecessary noise.
Leverage technology and learning
I still meet people who refuse to work with computers and other new technologies. They don’t want to waste time learning, you see.
You must become an example for your employees. You are responsible for keeping your company up to date.
If your accountant still keeps records on paper, it is unlikely that you or your business will benefit. Even if he spends 100 hours a week on this work. Help him change the way he works. This is your main task.
Find a balance between family and work. You may not be able to produce decent results at work if you are unwell or if your relationship with your family is strained.
Practice this model at work to optimize employee productivity by setting aside time for vacations, family events, or entertainment. Unhappy employees are unlikely to make your business successful.
Encourage open communication in the team
The bosses should be the first to set an example. Establish an open door policy. Communicate with the team more often, talk about innovations. Communicate to them that feedback and suggestions are good and praiseworthy, and no one will be punished for it. Emphasize the importance of teamwork. Empower employees to achieve the results they need together.
Communicate your progress and goals to your team more often. Announce successes, however small, publicly. By doing this, you let employees know that they are really expected to produce results. And that the result is more important than the number of hours worked.
Always strive to set realistic, achievable goals for your team. Of course, they need to challenge your people to make the dream of success fully achievable.
I know many successful entrepreneurs. The best of them speak first of all about the results achieved and the difficulties overcome. They readily introduce me to the best employees and partners who share these views of the business. People need to be aware that your results are hard work. Not the other way around.
In business, it is customary to work hard, but this does not mean that you will achieve good results this way. How to work less and achieve more? Entrepreneur Martin Zwilling sorted out this issue for the Inc publication, and the Profpereklad Translation Bureau prepared a translation of the material for MC.today.
And according to research Final Destination: Organizational TransparencyClearCompany, 44% of office workers have little idea of what their company is striving for. If your employees don’t understand what you want from them, what kind of productivity can we talk about?
You, as a leader, must clearly and clearly articulate the goals and objectives of your organization to your subordinates. It is important for employees to understand how completing their small individual tasks helps the company to implement global plans. If employees do something without even understanding what they are doing and why, their motivation and involvement will remain low.