Is poor productivity stripping cash from your bottom line?
It’s widely known that poor productivity is the quickest way to erode profits, shrink margins and demoralise your team. It damages the brand you have worked hard to build; it hurts your chances of getting repeat business and referrals plus creates unnecessary project slowdowns leading to a slippery slope we see all too often here at Productivity Doctors.
The good news is a lot of businesses can reverse these issues with some very simple techniques.
One of the easiest places to improve productivity is to get more organised on a very basic level starting with the conversation around “How much time do we lose looking for things,” this is a sure-fire way to spark the interest of a lot of those around you.
Most people will ignore the one minute they spent looking for a tool or an item to perform a task because they are ‘busy’ or they are ‘in the moment’ or they will ‘come back to it later’ but they never do.
When you stop and think about all of those ‘one-minutes’, how much time did you really lose on a job and what did that cost you??
In a recent project one of our Productivity coaches worked with a client in the Construction Industry to help them remove wasteful activities (namely production stoppages to find where finished goods had been placed after the manufacturing step was completed), to also help improve productivity and to reduce product dispatching times in their warehouse division.
We introduced the workforce to the concept of 5S - (5S is a series of steps designed to create a more organised and productive workspace).
After the warehouse was re-organised by the team it was calculated by the business that the stoppages to their workflow had been costing them more than $150,000 per year – money straight off the bottom line, the cost to rectify this was less than $500.
Not a bad result you may be thinking but that was only one small improvement, imagine how many of those ‘one-minute’ losses your business experiences and how much money that could save you…. Not to mention reversing the demoralisation of your team, the improvement to your brand, speeding projects up as opposed to the slowdown of projects, the improved repeat business which replaces the need for you to always be chasing the next customer, while having those customers provide good quality referrals for your business.
All sounding too hard??
We assure you it’s not, in the next newsletter we will outline some very basic steps you can take to begin improving your Productivity, but in the meantime – how many one-minutes do you have?
Productivity Doctors specialises in improving the performance of businesses.
Our aim is to “Make you better than you were yesterday.”