When you are able to increase productivity, it can translate to higher profits through the same base of expenses. Simply stated, you make more from what you spend because you get more out of your assets. Here are some ways that you can increase your business’ productivity.
Employees who are rewarded will be much more motivated to do what they can to help improve the overall business. You can run contests for employees to submit ideas that can help improve the company’s operation, or you can simply give bonuses when employees do something that directly helps the bottom line. While employees respond to kind words, you can get a lot further with a kind word and a bonus or other type of incentive.
You can apply management philosophies to your business to help improve how it operates. Try to think creatively. This includes some new theories that you may have never used before. Kaizen is a compound Japanese word that consists of parts that mean “change” and “good.” Utilizing kaizen is a collective effort that makes small changes a little bit at a time. It is a “5S” process that will help increase efficiency and profitability.
Some companies view training as a sunk cost that may not necessarily help the bottom line. You should think otherwise. Employees that are better trained are more able to think on their feet. These quick decisions eliminate bottlenecks when employees would have to seek out an upper layer of management. At the same time, employees who are taking regular training classes feel that they are working toward a higher purpose, and they will be more loyal and motivated to the company that sponsors the training.
When your employees know what is going on, they feel as if they are part of something larger than themselves. As such, you should take steps to make sure that employees are kept informed of corporate developments and progress. Then, they will feel as if they are a part of a team. Make sure that your employees are kept in the loop, and it will pay off in terms of increased motivation. If you communicate regularly, employees will feel empowered to work on behalf of the company.
Increasing productivity is something that can happen from the top down when management sets the proper tone for the organization through their actions. Still not sure where to start? Try Framework 4 Freedom today!
Breaking taboo called FAILURE by talking openly about it, sharing my fail stories and lessons that I learned on my way back from hell. I had four successful companies that at one time all went bankrupt. You could say that I went from hero to zero. But I managed to survive! Down that road I became Fail Coach not by degree but by failing personally and professionally, learning from my failures and growing. If you are looking for a coach try not to find one with shiny diploma hanging on his wall but one that has personally gone to hell and back.
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