Productivity is the measure of output versus the cost of producing the output.
However we often forget to take people costs into consideration. You pay salaries but do you measure the output (or return) from these individuals?
The secret though is to get more for less. I know you know this – but do you do this?
Here’s an example – during the pandemic, with reductions in numbers of people allowed into entertainment venues, the venues cut their staff numbers and in such costs.
Strangely, their turnover remained the same or increased in some instances.
Well – lots of reasons. Prices could have been increased (but this was probably not the reason). With less staff doing more work for the same pay the only outcome is an increase profits.
So even with all the challenges in doing business during the pandemic, increased profit (even from lower turnover, was possible and achieved by some companies.
So here is a tip – if you are In the service business, cut meetings in person.
Well – although it is cool to meet physically (and sometimes necessary) – the time to travel, park, meet, get back to your car, drive back to your office and then start again is a loss of productivity.
Have you not noticed that you are or were more efficient or achieved more by working from home?
In fact – I don’t want to have face to face meetings unless it is critical to do so.
My most productive customers don’t want to meet either!
So, what is the fastest way to increased productivity?
By doing(physically) less and using your hours on more money generating tasks.
The pandemic has changed a lot of things for a lot of businesses. Why not schedule some time with me and I can help you rewire your business for the new now.
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