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Do you know the difference it would make to your bottom line if your team’s performance improved by just 10%?

Research by Drs. Zenger and Folkman aimed to quantify that impact. They found that for companies in which labour costs represent about 50% of their total expenditure, a 10% increase in productivity would double the business profits!

Table showing productivity improvement as a percentage of labour cost

 

 

Where could you ‘find’ that 10% increase in productivity for your business?

  • Make meetings more effective and efficient, a 60-minute meeting becoming a 54-minute meeting
  • Delegate more effectively so that there is no need for the person to come back to ‘check the details’
  • Increase accountability so that you don’t waste time chasing people or missing deadlines
  • Ask open questions to ensure your message has been understood correctly, this avoids the wasted time and the frustration of rework or of constant interruptions ‘just to check’

 

Ask your team where they see opportunities to make productivity improvements. Then enjoy the huge impact these small improvements have on your bottom line!

 

Ready to stop the culture of burnout and win back up to one extra day every week? WorkSMART is a two-day workshop that teaches your employees the human skills and practical skills needed to work effectively in today’s fast-paced, team-based digital environment. Click here to LEARN MORE or call us on 1300 085 248.