How to improve the productivity of a company is the question that many entrepreneurs like you when they pass through their head thoughts such as:
- I cannot anymore
- I do not give.
- I work too much.
The productivity, defined as the relationship between the resources that your company invests in its operation and the benefits you get from it, is a key indicator when analyzing the state of your company and the quality of its administration.
Know the 10 recommendations that can be very useful to make your company more and more productive.
1. Modernize yourself:
Analyze the options you have to modernize your production apparatus, machinery, equipment, processes and management. Modernizing not only involves acquiring technology, it is also a way of thinking and projecting your company into the future. Through modernization, your company can increase its capacity to adapt to change and to stay in force, over time.
Your competition is always innovating. For this reason it is important that you also do it so as not to be left behind. The innovation will help you analyze your business model to find innovative ways to improve their management and make optimal use of its resources alternatives. Companies can innovate in their productive apparatus, the use of technology and organizational management, among other aspects. By means of innovation your company can be more competitive and even achieve the development of new products and services.
3. Empower your staff to improve competitiveness:
The human capital of your company is your most important resource, so it is key that your employees constantly train and acquire new knowledge that allows them to continue developing skills to efficiently and efficiently carry out the tasks that correspond to them in their company. Empowering your employees will help you have a good level of motivation, productivity, integration and commitment. There are different upgrade and training options that will enable both managers and employees to better develop their skills and competencies in order to increase the productivity of their business.
4. Apply management by processes, not by functions:
If each of your employees understands that their responsibilities go beyond the simple fulfillment of specific functions and that in reality what matters is that the processes in the that the company is involved, because this will benefit all, you will have a group of employees committed and willing to give their best to help the company. That’s what process management is all about. Some advantages that this philosophy can bring you are: better planning, higher quality of work, better overall organizational performance and compliance with strategic objectives.
5. Become an effective motivator:
Keep your employees motivated and positive attitude to daily tasks and the work they do is key to all processes which are involved be more productive. This is why it is important to generate policies that ensure the welfare and satisfaction of employees. It should be clarified that when talking about motivation we do not only refer to the salary or economic benefits that a company gives its employees. It is also about the activities and actions developed by organizations for the benefit of human capital (anniversaries, recognitions, training, etc. …)
A critical for running a business element is the strategic planning because it helps define the objectives, goals, strategies, policies and procedures to be developed in favor of the organization. If you want to achieve good management, it is important that you plan the project of life of your company in a timely and clear way, considering its context and all the actors that make it up.
7. Manage your time well:
An important trait that successful people and companies share is the right time management. In order for an organization or company to execute and carry out all the activities it has proposed, it must organize and prioritize tasks based on time. This is one of the main resources whose use needs to be optimized to increase productivity.
8. Use communication in a strategic way:
Communication is an indispensable element to make your company more productive, since through good management of internal and external communication you can establish action plans that support the achievement of your goals, improve the working environment, generate a good reputation, make its clients aware of their portfolio and properly coordinate the work within their company, among many other actions beneficial to their business.
9. Manage your working capital wisely:
Good management of your working capital guarantees the solvency of your company, allowing you to respond in a timely manner with all your financial obligations and generate favorable conditions to negotiate, both at the time of selling, and at the time of purchase. Any profit margin has repercussions on productivity. In addition, when a company is solvent, it is at a lower risk of having to compromise its operation due to lack of appropriate resources.
10. Consider entering new markets:
Possibly crossing national borders there are markets that you do not yet know are particularly favorable to your business. Opening up to the possibility of entering international markets may lead you to discover ways to increase profitability and productivity, taking advantage of the opportunities offered by trade agreements. By contemplating internationalization you will be able to expand your business and get your products to different parts of the world.