There are 3 key components of the most productive employees – talent, engagement, and time with the company. Unfortunately, only 5 percent of workers meet these standards.
You can’t stick new employees in a time machine to magically give them more time with the company but there are other ways to improved employee productivity.
Let’s look at some productivity statistics and what you can do to improve them in your business.
Employee engagement is one of the most important factors for highly-productive staff. Highly-engaged employees are 27 percent more likely to have excellent performance in their job.
Giving employees a chance to use their strengths helps them stay engaged. Having the chance to exercise their strengths every day can increase your staff’s productivity by almost 10 percent.
A solid onboarding process can improve employee productivity by as much as 70 percent. That process starts with the interview, which 69 percent of companies say is one of the top factors in the quality of hire.
Turnover can be as high as 50 percent in the first year and a half and a solid onboarding plan can help lower those losses.
Communication with your employees is another big factor in workplace productivity. They need to know what you expect of them and they also need to feel comfortable offering upward feedback.
A recent survey shows that poor communication increased stress levels for over half the respondents as well as project delays and lost sales.
Almost two-thirds of employees express frustration with their company’s communication channels. So much so that they’re ready to quit as a result.
Inefficient communication leads to added stress for 80 percent of employees and nearly as many feel it should be a higher priority for their employers.
Your employees might not be snoozing while they’re at work but tardiness could be causing the same end result. Surveys show that 15 to 20 percent of workers in the U.S. are consistently late for work.
Not to mention the longer coffee and meal breaks that many workers take.
Even if it’s only a few minutes a day, those minutes add up to hours, days, and even weeks over time. Multiply that by dozens or hundreds of employees and it’s easy to see how American companies are losing billions of dollars a year to employee tardiness.
Slow, outdated technology can slow workers down and have a big impact on their productivity stats. Many companies avoid buying new technology to keep costs down but the net loss in productivity could cost even more.
There are several ways to improve productivity with the right technology:
- Automating repetitive processes
- Employee collaboration
- Remote work alternatives
- Better communication
Productivity is down by almost 50 percent in the business sector over the last decade. Providing your employees with up-to-date technology can help mitigate that problem.
Employee Productivity is Critical
Employee productivity is a critical part of any successful business. It improves staff morale, reduces turnover, and reduces staffing costs. The bottom line is productivity will help your business be more profitable.
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