The drive to do more with less and increase efficiency is central to almost every business. In manufacturing, reducing scrap rates or developing production techniques that require less material are examples. In service businesses ensuring that people costs are managed by ensuring engagement and applying best practices is critical.
Just as companies can be more efficient with their raw materials, they can also be more efficient with their human capital by increasing employee productivity. Employee productivity is a significant factor in determining the profitability of a company, because employees tie directly into costs and drive revenue creation. This is true whether you operate a global manufacturing firm or a small consulting practice.
A Forbes article by Victor Lipman discusses seven strategies for increasing employee engagement and productivity that can be applied to any business.
Employee engagement and morale are key to boosting employee productivity, and that productivity is a huge factor in an organization’s bottom line.
The strategies above aren’t complex or expensive, and they can start having a real impact on the productivity of a company’s workforce.
Another important way to manage resources effectively: know when and how technology can help to augment human capital, reducing management time and expense. Phone systems are a good example. Are you maximizing customer service and staff costs by using technology where it counts?