Why is corporate productivity so important? Productivity and work performance account for a large part of life’s success. To entrepreneurs, productivity might imply numerous things, but in general, it implies getting the most output for the least amount of effort or time. So the real question is, how can a business owner be productive?

Small changes in habits will significantly impact your company’s productivity and workplace efficiency. This will allow you to complete more high-quality work in less time while also reducing the amount of time spent on non-essential duties.

What does productivity as a business owner mean?

In business, the term “productivity” is commonly used, but what does it really mean? ‘Someone or something that is productive produces or does a lot for the amount of resources consumed.

Employee productivity is especially crucial in small organizations, which have less resources than larger corporations. According to Opus Energy’s research, productivity is a problem for 86% of UK SME. Small business owners may want to analyze how their staff is currently operating to find sticking points before introducing techniques to boost workplace productivity.

Why is productivity important in business?

Productivity and work performance make up a large portion of life’s success. To entrepreneurs, productivity might represent numerous things, but in general, it means getting the most output for the least amount of effort or time.

So, why is business productivity so important? When implemented, the productivity benefits are immediately apparent and widely felt. Here are seven reasons why productivity should be a priority for your business in 2022.

1. Profitability Increase

When workers become more efficient, they can produce the same number of stuff with less work. The business might choose to cut the number of employees in order to create the same production, but maintaining the same amount of labor will result in an increase in output.

2. Increased Competitiveness

A business gains an advantage by doing tasks faster, more efficiently, and better than competitors. Productivity contributes to better competitiveness. Because of the decreased operational costs, the company may offer products and services at a cheaper price than competitors, increasing the value added to clients.

Business Advantages of Increased Productivity

Higher productivity’s basic advantages — increased competitiveness and profitability — can generate a wide range of extra business benefits. They are as follows:

Increased customer satisfaction: Customer satisfaction will improve if your company’s greater efficiency allows you to lower prices or deliver goods and services more quickly.

Better supplier terms: When a company’s productivity allows it to boost production, it may acquire raw materials and components in larger quantities, which usually translates to lower prices.

Increased capital access: When increased productivity leads to higher profits, it can make it easier to secure money, whether through issuing equity or borrowing.

Productivity tips:

1. Make a to-do list for yourself.

Make a list of your tasks, prioritize them, and set deadlines for them.

To-do lists provide structure and a strategy for you to follow. Fortunately, you can now carry your to-do list on your phone. Forgetting is no longer an excuse with digital to-do list apps. Choose an easy-to-use option that allows you to share tasks with others, even if they don’t have an account.

Productivity can help you keep track of all of your tasks in one place and give you peace of mind that everything will be completed on time.

2. Get rid of anything that isn’t necessary.

“Essentialism is about investing your time and energy wisely in order to perform at our best level of contribution by doing only what is necessary.”
Essentialism: The Disciplined Pursuit of Less, by Greg McKeown

3. Use technology to your advantage.

Productivity is influenced by a variety of factors, including your mindset, sleeping hours, health habits, stress, communication, and time and task management.

Fortunately, you can use technology to your advantage. There are many apps available to help you, your business, and your staff boost productivity and efficiency.

4. Remove any potential sources of distraction.

Work is difficult. There are a tons of distractions available. And time is running out.

Several times a day, we are all sidetracked from our everyday tasks. Negative individuals, social media, smartphone notifications, and background noise are all examples. To stay concentrated, you must eliminate distractions, which is not a simple task.

Plan, prioritize, and establish deadlines for your daily chores.
Turn off your smartphone and social media notifications.
Avoid having unplanned meetings or visits.
Convert your emails into tasks (you can use a task management tool to achieve this)
Get out of any noisy or unpleasant situations.
Avoid using your personal phone or texting.

Softwares to use

Project Management Tools:

Common project management tools are:

I use one called teamwork.com. The reason I chose that one is it allows me to have recurring tasks. The employees collects a document every Monday, and we put that in a project manager.

Time Tracking Software Tools:

1. Toggle

Toggl Track is one of the most popular time management apps today. Its signature odd design and simplicity show through. On all platforms, the app works flawlessly. Toggl also has a browser extension (Chrome and Firefox) that allows you to track time in other apps such as Asana, and Trello.

2. Timely

Timely is the time tracker that comes closest to tracking your time automatically. The AI-powered tool learns from your inputs and assists you in filling in the blanks on your timesheet.

The task planning feature is the best part of Timely. You can graphically manage the tasks on the Gant charts by dragging and dropping them. This aids in effective project timeline planning, which is essential for completing the project effectively.

3. Hubstaff

Hubstaff starts at $7.00 per user per month and is one of the best known time tracking solutions catering to small to midsize businesses (SMB). Incorporating a wide range of time tracking, productivity monitoring, and reporting features alongside HR, attendance, and payroll functions, has made it a strong choice for businesses seeking an effective solution that integrates all those functions.

4. Clockify

Clockify is mostly used to keep track of time. However, it also serves as a productivity and team management tool. Both the free and premium versions allow you to establish numerous projects, collaborate with many users, design custom labels, and generate weekly reports on billable and non-billable hours, which are required for invoicing. Clockify is not an employee monitoring tool, but you may keep track of your own and others’ times at any time. It’s a trust-based time tracker, which means users are encouraged to be honest and accountable with the data they enter.