What’s Barring Your Business from Productivity?

by | Jan 30, 2023

What’s Barring Your Business from Productivity?

“Productivity: The engine that keeps a business chugging along like a well-oiled machine. And let’s face it; when a business owner is productive, it tends to rub off on the rest of the organisation. More productivity means

  1. lower costs
  2. increased revenue
  3. a stronger competitive edge in the marketplace

But, being productive can be challenging. Many business owners find the concept of productivity a bit hazy and are often plagued by little gremlins that sneak in and slow things down. That’s why it’s essential to identify and understand the behaviours that lead to poor productivity.  This allows you to make changes. Therefore, run a smoother, more efficient operation.

Top three saboteurs

So, what are the top three productivity saboteurs in businesses today? Let’s take a look:

  1. Muddled Communication. Lack of clarity is a productivity thief and a significant contributor to poor performance, missed goals and lost revenue. When the lines of communication between leadership, management, and employees are murky, the whole system suffers. It leads to confusion, stress, low morale, and less-than-satisfying company culture.

What can you do? Make ambiguity your enemy. You must clearly state your vision, goals, and expectations as a business owner. Reinforce them regularly. Consider an open-door policy for one-on-ones. Publish a monthly newsletter highlighting best practices and company goals. Praise performance often. Get your management team and top performers together to brainstorm on productivity.

  1. Multi-tasking Madness. Lack of focus is one of the biggest obstacles to productivity. Studies show that multitasking can decrease productivity by up to 40%! So, imagine how much that could be costing your bottom line.

What can you do? Embrace the art of single-tasking, focusing on one activity at a time. It might take some getting used to, especially for busy business owners. However, single-tasking leads to increased focus, reduced errors, better work quality, and higher productivity. Evangelise the importance of single-tasking to your management team and employees.

  1. Policy Problems. Many companies have workplace and performance policies that are only sometimes enforced. Consistency is key. Failing to enforce policies can lead to decreased productivity. For example, employees taking a few extra minutes for lunch or leaving early may seem harmless, but it adds up. If you have a staff of 20 and each employee takes just five extra minutes for lunch and leaves five minutes early, that’s two hours of lost time per day. That adds up to €13,000 in losses each year, not to mention the impact on productivity.

What you can do about your business productivity:

Create an employee handbook that outlines policies, procedures, and expectations. Make it a part of the onboarding process. Stick to the rules. Enforce them consistently and evenly.

There’s no magic formula for productivity. However, addressing these common barriers will positively impact your entire organisation. So, let’s get productive and keep those gremlins at bay!”

If you would like support with your business’s productivity, contact us at the Alternative Board Ireland today.