With the Global Financial Crisis somewhat over, there is now a need for Australian small businesses to try and boost productivity to assist in the recovery of bottom line profits. The question many business owners may ask is "How?". It is no secret that some large corporations rely on shifting production overseas or retrench employees to cut costs. Toyota recently announced the redundancy of 350 jobs at its plant in Melbourne due to a decline in its competitiveness. Other well known companies, such as Heinz, are also relocating manufacturing plants overseas due to poor productivity.
We believe there is a more sustainable approach which will not only improve the competiveness of your business, but help boost firm moral, it's a type of "rebuild from within" method. To avoid a similar fate, small businesses can improve productivity by:
- Getting employees to become more creative and generate new ideas;
- Reviewing systems to eliminate unnecessary processes;
- Improving skills and focusing on management;
- Using more technological processes;
- Retraining older skilled workers;
- Rotating job tasks so employees do not become bored; and
- Providing incentives for the best performers.
If you are trying to explore ways to improve the productivity levels within your business feel free to contact us and discuss, or leave comments below and we will be in touch shortly!