4 Ways To Increase Employee Productivity

As many employers have discovered, an unproductive workforce can bring progress and revenue to a screeching halt. Your goal, as a business owner, is to ensure employees feel inspired, stay productive and drive the vision of your company.

According to the Gallup report State of the American Workplace the nation as a whole loses $483 to $605 billion each year as a result of disengaged employees.

Here are some tips for increasing employee productivity:

Set Expectations

Work ethic stems from employee dedication. It’s important for new-hires to know the company culture and processes from day one. Why? Well, do you expect each employee to miraculously know what you want and how you want it done? A clearly defined work standard communicates expectations, sets boundaries and encourages goal setting.

Employee programs should be taken seriously as it is effectively the backbone of your operations. Hire a professional, get employee handbooks printed and create an efficient on-boarding program. If proper expectations aren’t voiced due to lack of funds, consider one of the many types of business loans that can assist with financing. It’s important to get this done right.

Provide the Best Tools

Did you know that outdated, slow technology and equipment can sabotage productivity? If it’s taking your team additional time to complete job orders, there might be a problem.

If any project could be done more efficiently with updated equipment, then it’s time to explore the options. Many business owners fail to realize that while it’s an expensive endeavor to replace old equipment, it’s not impossible. Equipment leasing allows business owners to spread payments out over a pre-determined period of time, making new equipment an affordable option.

Which is Better for Your Business: Buying or Leasing? Let Us Show You!

Incentivize Employees

Your employees will express an energetic attitude when there are company perks. And this doesn’t mean raises every 3 months (even though no one would object to that, haha)!

Productivity raises, bonus paid time off, team building exercises and employee outings are a few ways to show appreciation. This will do two things: Encourage those who fail to meet expectations to step it up and reward those who are giving you their all.

Are you worried how you’re going to fund employee outings during the off-season? If sales are low one month, consider a working capital loan. Now you can borrow the capital you need, and keep momentum going, without breaking the bank.

The Bottom Line

Lack of available capital shouldn’t be stopping you from appreciating your employees. Business loans are a great way to keep the momentum going without sacrificing a company incentive program.

If you are looking for guidance on how to fund incentive programs to boost employee productivity, let us handle it. After all, it’s what we’re good at!