Efficiency is, almost by definition, something that organisations of every shape and size should be concerned with. Cost savings, productivity, adaptability and sustainability – they’re all a product of the amount we’re able to accomplish with the available resources.
But exactly how can productivity be driven in modern business? There are a few things to consider.
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Set clear goals and objectives
When you’re devising your strategy, you should be clear about what you’re looking to achieve. Decide upon, and articulate your long-term goals. Then use shorter-term objectives to propel yourself toward them.
Your objectives should be simple and specific. It should ideally be obvious whether you’ve achieved them. This will allow you to judge your own success in hindsight.
Time management
Among the most precious resources available to any organisation is time. You’ll have a limited amount of it available on any given day, and you’ll need to make the most of it. That generally means setting out a clear (and often rigid) schedule, and constantly identifying periods of downtime, so that tasks can be performed during that time. You might also set aside periods for deliberate rest – this will help to ensure that you don’t procrastinate.
Among the most considerable time investments is travel. You can often buy time for your high-level staff members by arranging faster forms of transport, like private jet rental for international trips. In this way, you’ll not only cut out the process of boarding a commercial airliner, but you’ll also have access to smaller and more conveniently placed runways.
Streamlined processes
Your business can be thought of as a series of interconnected processes, each of which will take an input and produce an output. By analysing your processes, and the workflows of the individuals who put them into action, you may be able to spot smaller efficiency savings that can add up to major gains.
In many cases, a technological change can lead to a major improvement in overall productivity. For example, many online workforces have adopted collaborative productivity apps like Slack and Trello, to great effect.
Invest in your employees
Staff turnover tends to be a major driver of inefficiency. When experienced staff leave your business, they’ll take with them all of the skills and knowledge that they’ve built up over the years. In turn, they’ll set an example that others in your business might follow.
By providing your staff with the right training and development opportunities, you’ll rid yourself of this particular source of inefficiency – and give your workforce the skills needed to be more efficient and productive.
In Conclusion
Efficiency is a word that can encompass many facets of your business, and many of them might not be obvious. Make your search for efficiency savings a constant and neverending one, and you’ll find ways to make your business more profitable in the long term.