Why Is Productivity Important For Businesses?

     Tuesday, February 5, 2019

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Every successful business understands the significance of workplace productivity. Increased productivity allows a company to use their human resources efficiently and effectively. What is productivity? Simply stating, productivity is the measure of efficiency in a workplace. It can be calculated by dividing value produced by the amount of time devoted to a particular task. While this may seem an oversimplification, which technically it is, but every advanced strategy pertaining to productivity uses the same principle.

Why Is Productivity Important For Businesses?

Productivity growth translates to more goods and services, which may consequently result in higher revenues and profitability. This allows an organization to pay their stakeholders while retaining healthy cash flows for future expansion and growth. Furthermore, it allows businesses to gain competitive advantages over their rivals. Therefore, it is imperative that businesses should devise a comprehensive strategy to keep their employees productivity at maximum level. The advantages of productivity go more than monetary benefits.

There are many reasons for a company to heavily emphasize on productivity. One of the key examples is improved customer service. Client experience plays a pivotal role in customer satisfaction and companies can leverage productivity as a tool to enhance their experience, which may allow them to gain customer loyalty. A loyal customer is likely to share their experience with others, which will serve as a great marketing advantage for your business courtesy of high levels of productivity.

 

 

“People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message.” – Mark Zuckerberg

Furthermore, smart businesses do not treat their employees as an expense, but rather consider them as an investment for their company. The benefits of investing in employees can reap fruitful results for any organization. Therefore, a company must provide adequate training and proper equipment to their employees to make sure that they are able to work efficiently, leading to increased productivity. This ensures that a company is getting a good return on their most valuable investment. Moreover, it also creates a culture of harmony and improves morale, ensuring a better and healthier work environment.

In this dynamic work environment, it can be quite problematic to manage productivity in offices. Albeit technology has taken some great leaps over the last few decades and the likes of computers, internet, and mobile phones allow businesses to conduct their operations much faster and efficiently, they can prove to be quite distracting, if used incorrectly. Therefore, a company must ensure that they are leveraging technology for improving efficiency rather than hampering the productivity of their workforce.

The onus of ensuring efficiency is not only on employers, but employees should also focus on improving their workplace productivity. Many employees waste the majority of their time at the workplace, which results in poor results or late-sittings, both of which are detrimental for their career progression.

“Being busy does not always mean real work. The object of all work is production or accomplishment and to either of these ends, there must be forethought, system, planning, intelligence, and honest purpose, as well as perspiration. Seeming to do is not doing.” - Thomas A. Edison

 

The final words

There are a plethora of advantages of high productivity in a workplace, and in the current competitive business environment, it can be considered more as a necessity than an option. Thus, strategic heads should take measures to instill productivity in the organizational mindset and daily processes should be streamlined and designed to ensure maximum productivity.

"Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort." - Paul J. Meyer

In Summary

 

  • Every successful business understands the significance of workplace productivity.

  • Productivity growth translates to more goods and services, which may consequently result in higher revenues and profitability.

  • Client experience plays a pivotal role in customer satisfaction and companies can leverage productivity as a tool to enhance their experience, which may allow them to gain customer loyalty.

  • A company must ensure that they are leveraging technology for improving efficiency rather than hampering the productivity of their workforce.

  • Many employees waste majority of their time at the workplace, which results in poor results or late-sittings, both of which are detrimental for their career progression.

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