4 Key Components to Implementing Productivity Measures in Your Business

How productive is your business? People talk about productivity as this all-important buzzword, but measuring and improving productivity becomes hard to track if they do not know how to do it. So let’s show you how you can create an effective way to measure productivity for your organization.

Understanding the Metrics You Want to Measure

The first port of call is about understanding what you actually want to measure. Understanding the main productivity metrics for your sales team allows you to find you and exactly what the problems are, and therefore creating a productivity formula that everyone can adhere to will allow a more cohesive entity that understands the bigger picture. However, we have to remember that metrics are only one piece of the puzzle. We can use this as a formula, but as long as we understand which metrics we want to measure, we can operate with a holistic approach to improvement.

Measuring Productivity Through the Profit

Every business looks at its revenue, and measuring productivity through profit comes naturally for many, especially within sales-driven environments. However, in creative roles, you’ve got to be careful not to lean too much on this approach. Because if you need brainstorming sessions, and time to create, you are better at measuring the value of the products or services that the individual brings to the organization.

Using Performance Management Systems

There are so many tools out there that help companies to track productivity and individual performance. Now, there are some excellent pieces of management software to help companies track individual targets and goals which helps to improve accountability. Using the right performance management systems is pivotal to your business, but ultimately, it depends on the industry you are operating in. It’s easier to track performance in a customer contact center, based on the average duration of a telephone call, but it’s not dealing with the issues in a holistic sense.

Conducting Regular Check-Ins

For those who are trying to measure metrics, but are unable to get to the root cause of performance, frequent communication will do a lot to keep teams aware of the bigger picture and support one another. This is especially prudent in sales environments. Each salesperson is on their own, and there can be a distinct lack of communication between each member because they are so centered on their goals. But if you conduct regular check-ins, it provides a simple reminder that you care about your team. When you conduct a check-in, you’ve got to be careful not to schedule long meetings for the sake of it. You can keep your check-in very simple with the right types of tools. For example, a brief phone call limited to five minutes could be all you need until your next check-in in a few days’ time.

Measuring productivity is so important, as not only will it make your business successful in the long run, but it will have a positive impact on your employees. But be sure to go about it the right way.