Increasing productivity could help your business to improve its bottom line and become more competitive. But how exactly should you go about raising efficiency and output within your company? Drawing on pointers I’ve picked up throughout my career as a business leader, here are three tips that can help you boost productivity.
1) Empower your team
If you’re starting up your own business, you might find it difficult to delegate tasks. However, if you try to do too much yourself and you insist on being involved in all decisions, you can end up causing delays in the growth and ultimate success of your company.
To ensure your business runs as efficiently and smoothly as possible, it’s important to empower your team. Giving people enough control over their tasks and making sure they have suitable decision-making powers can prevent unnecessary holdups. Just as importantly, it will give your team members the autonomy and confidence they need to ‘get the job done’ and raise morale, making your office an enjoyable and fulfilling place to be.
When people are given greater levels of responsibility in their roles, they tend to experience greater job satisfaction. In turn, this can make them more motivated and committed to their tasks.
As an added bonus, delegating more of your responsibilities can cut your workload and reduce your stress levels. It also gives you more time to focus on setting the strategic direction for your company.
2) Reward success
It’s crucial that you reward success within your organisation. When people demonstrate high levels of dedication, skill and innovation, you should ensure their efforts and achievements are recognised.
People are much more likely to work hard and apply their talents on behalf of your company if they know they will be recognised and appreciated as a result.
There are many different ways to reward success. On the most basic level, it’s vital that you give your team positive feedback when they do something well. Beyond this, it’s important to provide people with opportunities to develop their careers and increase their earning potential.
Giving out awards and prizes to top-performing team members can also be an effective way to celebrate success.
Making reward and recognition – in whatever format you choose – part of your operating model should help you to ensure that people feel fulfilled and are productive in their roles and that you retain skills and knowledge within your business.
3) Put suitable systems and technology in place
It’s essential to have the right systems, processes and technology in place to enable people to perform their roles properly.
And implementing them doesn’t have to mean a massive financial outlay. If you’re just starting up your own business, it’s more important to establish great habits and behaviours that become ingrained in your company culture than it is to spend vast amounts on ‘bells and whistles’.
A complex intranet, for example, may become necessary to enable people to communicate in a large organisation; but in a small office, establishing a practice whereby people speak directly to each other is just as effective – if not more so.
Ultimately, it’s about making sure your resources are fit for their purpose, your people and your business – and that will change over time so be prepared to review things to ensure your company runs efficiently and is as agile and competitive as possible.
Heading up a highly successful international business Appco Chairman Chris Niarchos is a respected entrepreneur and understands exactly what it takes to make a company productive and successful.