3 Vital Factors That Can Affect Your Business Productivity
Business productivity offers immense benefits to your business. Not only does it increase profitability, but it also lowers operational costs and optimizes your resources. Moreover, it places your business ahead of competitors while adding value to your customers. Despite its benefits, many entrepreneurs struggle with productivity. An Oasis survey revealed that half of US business owners find it challenging to improve productivity and efficiency. That said, what are some factors that can affect productivity? Here are some to consider.
- Work environment
It’s no news that your work environment is crucial to your overall business productivity. Therefore, an environment filled with toxic behavior such as backbiting, gossip, and rumors can have a negative effect. Research shows that 21% of employees engage in workplace gossip. Moreover, according to some statistics, the average workplace gossip session lasts 15 seconds, leading to 65 hours of wasted time per employee annually. What’s worse, these toxic behaviors can drain the happiness and motivation of dedicated workers in an instant. Therefore, it’s best to create an environment devoid of these habits, promoting employee engagement.
Fortunately, you can achieve this in many ways. For starters, you want to be more transparent with your employees and listen to them as well. It’s also prudent to address workplace gossip immediately instead of letting it fizzle out. This is because negative feelings triggered by the rumor will fester if not clarified. Encouraging an open-door policy is crucial for keeping you in the loop, so keep this in mind. It’s also best to inform your staff of your policies, highlighting the consequences of negative behaviors.
Leadership comprises influence and authority, and how you utilize these will determine how productive your team will be. That said, how you interact with your team, conduct performance reviews, set goals, and communicate expectations will make all the difference. Moreover, your employees expect you and your management to care about them. Therefore, handling these expectations will either increase or decrease productivity, so keep this in mind.
That said, it’s best to improve your leadership skills for the best results. For instance, you can prioritize effective communication by using a respective tone when speaking to your employees. Asking open-ended questions and encouraging specific responses can help. As a tip, master the art of negotiation and consensus building to ensure that everyone benefits from your decisions. It’s also prudent to listen to your employees instead of imposing what you want on them. Doing this will likely make them feel valued, increasing their productivity.
Technology has, no doubt, become an important aspect of a business. A Deloitte SMBs survey revealed that 99% of businesses leverage technology, while 70% intend to increase their technology use in the future. Indeed, it helps your team focus on more complex tasks while leaving the repetitive and manual tasks to the machines. What’s more, it aids in effective communication and more thorough organization. However, it’s best to leverage the relevant technological tools for maximum success. For instance, you’d need a phone system for your company to improve communication, so keep this in mind. Also, it’s best to reevaluate your existing tools to determine if they need to be upgraded or replaced.
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