5 Company productivity tips for small businesses

Understanding company productivity allows you to understand your business capacity

Productivity is a measure of the efficiency and performance of your company in converting inputs to outputs of the employees, company resources, and more. Comprehending the overall productivity of your company allows you to better understand the capacity of your business and make the necessary operational changes to achieve greater success. For example, through a deep understanding of the company’s productivity, leaders can make wise investment decisions, concentrate on growing the company, and monitor employee performances.

Ways to increase company productivity for small businesses

For small businesses, even the smallest change in work pace can drastically improve or impede work productivity. Therefore, with ample resources and careful planning, small businesses should pay more attention to creating the ideal work environment to boost productivity among employees.

1. Empower employees

Especially for small businesses, employees play an important role in determining its success. To empower employees to do their jobs more efficiently, companies should address any issues that are faced by the employees, and focus on providing training to maximise productivity.

Another great way to encourage employees to do well is to provide constructive criticism and incentives for every job well done. A positive working environment combined with fair compensation can help inspire employees to do their best and motivate others to do the same.

2. Provide employees with the right tools and equipment

To ensure maximum productivity, companies should also provide employees with the right digital tools and equipment. Leaders of each department should examine the manual processes that are still being practised and find ways to automate those processes, if possible. By doing so, employees can focus on performing their duties more efficiently rather than wasting time on menial, time-consuming tasks.

3. Provide flexible working schedules

The pandemic has proven to the world that flexibility in working schedules can greatly improve company productivity. In a recent survey by Gartner, 43% of the 10,000 digital workers in the US claimed that flexible working hours have helped them achieve greater productivity. Limiting all employees to work at a certain time and place is bad for morale and productivity because everyone has their own time where they feel most productive and not everyone shares the same sentiment towards a 9 to 5 job.

4. Fully utilise communication tools

Companies can boost productivity simply by providing employees with the right communication tools. In today’s modern working environment, for example, employees can easily schedule a video call for work discussions instead of having to do desk visits or organise a physical meeting. This means of communication makes it much faster and easier for employees to connect, update, and communicate with each other, which also contributes greatly to a more productive work environment.

5. Minimise time-wasting activities

Proper management is important to ensure that employees are not engaging themselves in time-wasting activities that could hamper productivity. For instance, the internet is a powerful business tool, but it can also be a productivity drain—employees may spend more time scrolling through social media instead of focusing on completing their work. To counter this, try encouraging them to put their phones away and only check them during rest breaks, or install a site blocker extension to their browser.

The productivity of a company relies greatly on the achievable frameworks for success provided by business leaders. With careful research and strategising, companies should be able to address any issues that are stopping employees from delivering their best work and provide them with easy solutions to boost productivity.

Today, you can even see automation in the finance department. The time-consuming processes of bookkeeping, invoicing, reporting, and more can now be streamlined and sped up, meanwhile, multi-day transactions can now be done almost instantaneously through the use of automation technology. Automation has indeed benefited many businesses in increasing productivity, accuracy, and efficiency both in and out of the finance department.  

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