Posts tagged with: lost productivity
By definition, productivity is a measure of output from a production process, per unit of input or more simply yielding results, benefits or profits. Productivity is distinct from profitability. Profitability is the net difference between revenues and expenses. However, every little improvement to productivity has a direct impact on your profitability.
Until you monetize lost productivity, nothing will change. Take a week to track how you/your team use time. Review and discuss what you find. In discussions with clients, we talk about productivity in terms of the results they need and how to get more done in less time and reduce the cost to do so. You can too, just by being more aware of it.
Here are just three examples of lost productivity:
15% of all paper handled in businesses is lost, according the Delphi Group, a Boston consultancy
30 percent of all employees’ time is spent trying to find lost documents.
Jane M. Von Bergen (Knight Ridder Newspapers), The Boston Globe, 3/21/2006
Executives waste six weeks per year searching for lost documents.
From a survey of 2,600 executives by Esselte, maker of Pendaflex and Dymo, FastCompany Magazine, 8/2004
These statistics and others like them are clear evidence that organizations of all sizes desperately need productivity training to take control and get organized.
Consider what the results would be for your business.
If you were asked about the time you spend on just four activities:
- Email and Internet Use
- Stress and Work/Life Balance
- Time and Multi-tasking
- Paper and Filing
and the dollar cost to your business’ productivity for each of these, what would the answer be? How could you increase your productivity in that area? How could you improve productivity in that area for every employee in every department?
When you look at your productivity and the team you have built around your business, can you see inefficiencies in how things get done? What is it costing you to continue to do things the same way? If you monetize that lost productivity, how would you choose to spend those resources? Getting more done? Saving time? Saving money? Increased profitability? Spending more time with friends and family? Taking that vacation?
For more ideas on how to drastically improve productivity, ask about this free whitepaper.