Do you feel like you spend too much time at work spinning your wheels and not getting enough done? If so, it might be time to assess your productivity.
In this article, we cover what productivity actually means in business, why it’s important, and what you can do to improve it.
In a business, productivity is essentially the efficiency of production. The more productive a business is, the more output it can produce without a corresponding increase in inputs. So, you could say a productive business is able to get more from its resources than an unproductive one.
Productivity is essential for long-term survival and success in business. Without good productivity, a business is likely to have a higher cost to income ratio – which isn’t good for profitability, or for long-term planning either!
1. Look after your workforce
When a worker suffers an injury at work, it could put a dent in your productivity. So, a top priority here is health and safety for yourself and your workers. This includes ensuring your workers are fully trained in their roles and in following safety codes, and that they are provided with the required safety equipment.
Your workers’ compensation insurance should also be kept up to date in case of workplace accidents or injuries. This is a compliance matter, as workers’ comp cover is compulsory for businesses that employ people.
2. Get planning and scheduling
For greater efficiency, you should have schedules in place for your projects and tasks. Without good planning and scheduling, you’ll likely be spending your days putting out fires, or wondering what to do first!
Job scheduling can be managed digitally using job management software programs or apps.
3. Don’t neglect the paperwork!
While the trades generally involve a lot of physical work, the ‘paperwork’ side of things and its associated administration tasks can’t be avoided in a business.
This includes managing documents and tasks like timesheets, invoicing, bookkeeping, receipts, tax office forms and lodgements – and plenty more!
Keeping your compliance and administration up to date helps you to avoid backlogs and fines, and creates more time for focusing on your clients and projects.
4. Make use of digital tools
Digital tools and apps can be of enormous benefit in improving efficiency and productivity, and in managing the oft-dreaded paperwork side of things as well!
Here are some examples:
5. Outsource where necessary
Being a jack-of-all-trades might sound good in theory, but it can actually be an inefficient way to run a business. It can scatter your available time and energy, and lead to you running around in too many directions at once.
Your job as a business owner is to run the business and not get bogged down in trying to do it all yourself. So, while it’s crucial to keep up with administration and paperwork, if it’s not your area of expertise, then consider outsourcing these types of tasks.
This does not necessarily mean having to take on a new employee though. Other options include hiring a bookkeeping and payroll firm, and/or using the services of a virtual assistant. That way you pay only for the services you need, as you need them.
Hopefully these tips and suggestions on improving productivity for tradies will be helpful for making your trades business more productive, organised and efficient!