Productivity Management: 6 Tips for Increased Productivity & Reduced Costs
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Let’s face it: The modern business landscape is dramatically different from even 20 years ago.
Through the advent and growth of the internet and an increasingly global marketplace, businesses face new challenges as well as opportunities in striving toward success.
New players continually enter your market, which increases competition. Meanwhile, ongoing technological innovations allow for higher productivity at lower costs.
These changes mean that you need to stay on top of strategies and tools for efficiency and productivity. From some of the most effective new communication technologies to serviced office solutions, here are five ways smart businesses are increasing productivity while reducing costs.
Project Management Tools
One of the best ways in which the internet has allowed companies to operate more efficiently and productively is with the introduction of online project, or team management tools.
These include services such as Asana, Trello, and Basecamp. From startups through to huge multinationals, these tools help manage their teams and keep track of goals and tasks as they move from inception to completion. If you’re not already using a project management tool in your business, look into implementing one soon.
Along with team management platforms, the internet has brought us many free or low-cost communication tools that we can use to stay more productive while remaining efficient and under budget. Tools such as Slack, Google Hangouts, and Skype are popular among smart businesses for how they allow you to keep in touch with your team or clients in a fast and economical way.
Increase Time Management
Managing your team’s use of time is not a new concept in business, but it is an area that needs your attention nonetheless. According to recent research, up to 37% of employee time is spent in meetings, a quarter to a half of which time is wasted. Excessive meetings hinder team productivity and cost valuable resources.
To cut down on this waste within your organization, look for ways technology can eliminate the need for as many face-to-face meetings. Additionally, online time-tracking tools can help individuals, teams, and managers gain visibility over how long tasks are taking and identify areas where efficiencies can be gained.
Create A Gamification Strategy
Gamification involves using friendly competition and rewards as motivators for individuals and teams to achieve higher results. The concept is derived from video games but has recently gained traction as a powerful tool used by many successful companies.
There are numerous ways to gamify your internal processes, from having employee awards to prizes for teams who outperform others. Prizes can include recognition, corporate gifts, or promotions. Even small rewards recognizing achievements can be an effective, inexpensive productivity enhancer.
Serviced Office Solutions
One of the best ways smart businesses are boosting productivity while lowering costs is by using serviced office solutions. Serviced offices offer small, medium, and large organizations a full range of physical office benefits without the need for long 3-5 year leases, as is common with traditional office lease agreements.
Included with most packages, are all the office features your business needs but at a fraction of the cost. These typically include a receptionist as well as admin and business support services, which free up your team from having to perform these duties so they can focus on more critical tasks. In the end, a serviced office may be just the agile and cost-saving solution your business needs.
To keep your business positioned for greater productivity while lowering costs, implement some or all of these smart business strategies and see for yourself how they can improve your bottom line.
Host Blogger’s Comments
Productivity management is defined as how smoothly a process runs and how effectively the process uses resources.
Can you recommend any tools or methods to help a business run smoothly?
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