(Newswire.net — May 15, 2017) — Every business thrives upon the principle of value production which aims at achieving the greatest possible output using the lowest possible input. In other words, every business strives to attain an efficient performance level where costs are reduced, wastes eliminated, time conserved, and desired output attained.
Working efficiently has a sort of ripple effect. It reduces the time, energy, and resources expended in achieving set goals thereby abating workplace stress. This subsequently leads to higher productivity and better service delivery, which are necessary ingredients for business success.
Prioritize these 3 cues to make your work more efficient.
1. Instill a Positive Work Culture
Your employees are a critical part of the business chain and work efficiency centers round them. You need a robust work culture that puts into consideration their welfare, interpersonal relations, and teamwork. Try these steps in improving the work culture of your staff:
i. Every human appreciates the feeling of importance. Your employees are an important part of your business and it’s only right to make them feel so. Care about your employees and what is important to them including their families.
ii. Reduce workplace stress to the barest minimum. Studies have shown that workplace stress reduces profitability.
i. Reward excellence among staff: Give bonuses and raises to remunerate extra work. Ideas such as Employee of the Month, Employee of the Year etc. should be imbibed.
ii. Lend a helping hand especially to new and young employees. It builds their self-confidence and can increase productivity. It also leads to a feeling of cooperation among staff.
2. Adopt an efficient business model
Investopedia defines business model as the way in which a company generates revenue and makes a profit from company operations. A business model gives you an edge over competitors within the industry. It is a map out, identifying key indices like financing, revenue sources, customer base, and products for the successful running of a business. Adopt a business model which seeks to deliver goods or products in the best efficient manner.
Some merits of adopting a business model include:
i. Organization: A business model spells out tactics and strategies that are adhered to within a given time frame. It makes the overall work process cohesive, timely, and organized.
ii. Competitive advantage: You have an advantage over peers within the same industry due to the uniqueness of a business model.
iii. Growth: A business model also spells out a business’ expansion targets and appraises the growth rate therewith, usually at the end of every financial year. It therefore serves as a catalyst for growth and expansion.
iv. Financial sustainability: A business model spells out the mode of financing a company. Working diligently with it gives room for financial prudence.
3. Time Management
Multitasking is no easy feat and can be cumbersome for employees. A lot of unexpected – though, usually trivial tasks – do pop-up in a business environment often eating into the actual productive time.
The Pareto principle, often called the 80/20 rule, states that 80% of the value you create in a day will come from 20% of the activities which you perform. This is where effective time management comes in. Train your staff to start early, schedule their time, and embrace other effective time management techniques that enhance productivity.
Conclusively, as a rule of thumb, you stand to get more work done (and in less time), reduce effort and stress, achieve set goals and objectives, enhance productivity, and ultimately increase profits as rewards for working efficiently.