How To Improve The Productivity Of Your Business
A productive business is a happy business, one with content and engaged members of staff who feel valued and respected for the work they do.
Increasing your productivity will have all sorts of knock-on effects, everything from increasing your profitability to reducing your production and manufacturing costs, improving business relationships, and delivering effectively on excellent customer service standards.
Of course, this is a particularly tricky time for businesses across all sectors and industries as we emerge from the pandemic and adjust, yet again, to a new set of circumstances.
What is interesting is the level of optimism that businesses around the UK appear to be embracing right now. Research from Make UK and PwC, published at the start of January, shows that the majority of firms expect productivity to improve over the next 12 months.
Some 17.7 percent of surveyed companies expect to see dramatic increases in productivity this year, while 60.2 percent say they expect to see moderate improvements to performance in this regard.
So, with that in mind, how can you go about boosting productivity and supporting your workforce in 2022 and beyond? Here are a few suggestions that could help you do just that.
Product lifecycle management – or PLM, as it is more commonly referred to – is the process of managing the entire lifecycle of any given product, right through from the inception to engineering design and manufacture, service, and ultimate disposal of the end product.
This kind of system works by providing companies with a centralized foundation, with everything in one place so that all those involved in the design and manufacture of products can access information and data as and when they need it in real-time.
The end result is reduced time to market, improvements in product quality, reductions in prototyping costs, sustained operational serviceability, greater ability to identify potential sales opportunities and a reduction in the environmental impacts of products across their entire lifecycle.
Workplace innovation is an organisational method that focuses on finding ways to improve the working environment so that members of staff are able to operate in ways that bring out the best in them, helping them to not only work better and more effectively but to live better, as well.
The main objective is to improve engagement and motivation among employees, which will in turn boost performance since people will be more energetic in how they approach their jobs and take more pleasure in the work they do.
Specific workplace practices include self-managed teamworking, good job design, human-centric technologies, trust-based systems, and processes, coaching styles of management, co-created leadership, and flatter organizational structures.
Artificial intelligence (AI)
Research from snapLogic shows that 68 percent of people want their employers to deploy more AI-based technology, with 61 percent saying that it makes their workday more efficient and productive. Some 56 percent say they already use AI to help them with their daily work and 51 percent believe that it helps them achieve a better work/life balance.
AI can help businesses in all sorts of ways, ranging from providing them with insights so they can focus on those leads with the greatest potential to the use of smart chatbots that can handle the low-level communication with clients and customers to help reduce stress levels among staff members.
Of course, these are just three ways in which you could go about improving productivity at your place of business and it’s key to find the right strategies for you and your brand. If you need any further help or advice relating to business development and growth, get in touch with the team here at Bombyx PLM to see how we can help.