The Importance of Turning Productivity into Profit

Most of the businesses I have been involved in over the course of my career have operated in the service sector. When you are offering a service to clients then the most important asset at your disposal is always going to be the people who work for you.

Therefore the only way you can distinguish yourself from rival firms is to offer a better service, which means that you have to ensure that your employees are the very best in the marketplace.

Your staff should be politer, better organised and more efficient than the people who work for your rivals and there are several ways to ensure that this is always the case.

The first thing that you can do is ensure that you have the correct recruitment processes in place. To make sure you get the very best people you need to ensure that your levels of pay are competitive compared with the rest of the marketplace, and your working environment is well regarded.

You also have to make sure you have a properly thought out recruitment process in place which is aimed at finding and hiring the top people in your chosen sector. A random approach to recruitment will have a direct correlation to the quality of the people you take on.

Once you have the right talent on board then you have to make sure they are properly trained and regularly briefed about the aims of the company and exactly what is expected from them in terms of performance and personal targets.

Every role in an organisation, from a receptionist to a member of the management team, can be measured in one form or another. And it is vital that every member of staff has a regular review so they aware of exactly what targets are expected from them.

A good chief executive always has to ensure that he or she gets the best possible return from the assets at their disposal, and this also means creating the right culture. You can have the most talented staff, but if they are not working in an environment that they enjoy then you won't get the best output from them.

A culture where ideas are accepted from everybody and staff are motivated to develop themselves adds real value to your organisation, and ultimately contributes to the bottom line.