The latest figures from the Office for National Statistics reveal that the UK is 20% behind the rest of the G7 countries in terms of productivity.
What would an extra 20% on your top line mean to your bottom line?
If a business has sales of £250,000 with a 10% net profit margin after owners wages of £50,000 then a 20% extra productivity would add 300% in profits.
The UK is 15% above Japan but over 30% behind France and Germany. An extra 30% productivity would add 400% in profits.
How sure are you that you are as productive as you could be?
One of the drivers of productivity is how engaged your people are. Here are some questions you can use to assess the level of engagement your people have:
- Do you understand the business goals?
- Do you know what’s expected of you to help the company achieve its goals?
- Can you see a clear link between your work and the company’s goals?
- On a scale of one to 10 how proud are you to work with your colleagues?
- Does your team inspire you?
- Do you learn how best to do your work from colleagues?
- Do you feel you have everything you need to do your work to the best of your ability?
- Do you usually know who to ask for help if you need it?
If you believe productivity can be increased then get in touch as our new planning and management software may help.