Tackling the issue of productivity
- August 15, 2018
A recent report by the BBC noted that the productivity of UK workers has dropped back to pre-financial crisis levels. The Office for National Statistics stated that hourly output fell 0.5% in the first three months of the year, and Economists have warned that the UK’s productivity continues to lag behind its major trading partners such as the US, France and Germany.
Ian Brinkley, acting chief economist at the Chartered Institute of Personnel and Development stated that “Unless more is done to tackle the nation’s low productivity, people’s wages and living standards will continue to fall and the UK will be ill-equipped to compete once we do leave the EU.” Other economists, however, have said productivity – which is output divided by hours spent producing it – has partly fallen because there are record numbers of people in work.
Whatever the reason, we need to think about what part we can all play in increasing productivity and we strongly believe that having an engaged workforce is a crucial factor to business success.
Just imagine if people in your business wanted to and could give their best each day. What difference would that make to the energy, the enthusiasm, the creativity, the effort they each put in? What difference would that make to you?
The good news is, you don’t just have to imagine as we have seen many of our clients take positive steps which have made a difference for their and people and their business.
“With Pro-Development, our business has seen and experienced a totally different approach and a very positive level of results, both financially and in the progress of the business. Pro-Development have worked with our teams in their unique way with a programme of activity to support our employee engagement. Pro-Development’s programmes at all levels of the business, including directors, has given a new perspective to people’s approach to business life within our group of companies. Without doubt, any business wanting to grow and develop should have no reservation in working with Pro-Development, and I would strongly encourage you to at least have a look at how they can help you”. Roger Bodill | Chairman, RB Associates
We believe a good starting point is to give employees a voice, to listen to them, to understand what’s working for them and what’s getting in their way. However, this is only valuable if people are open and honest, and leaders are brave enough to listen (and we mean really listen) to what people have to say. This is where we can help, our employee engagement surveys provide a means for confidential and anonymous feedback, and our analysis of the results are presented back in an honest and balanced manner, providing real insight.
However, there is little point on gathering insight if you don’t take action on the results, and this is where, in our experience, many companies fall down. At Pro-Development, we work closely with businesses to identify actions and act as a conscience to ensure key actions are delivered to drive up employee engagement.
So, why is it important to consider how engaged your employees actually are?
Ultimately, the research is out there, it’s a fact that an engaged workforce can drive up productivity on average by 5% and profit on average by 12%. And, let’s face it, who wouldn’t want to see an increase like that on their bottom line?
If your employees are engaged they’ll be happier, healthier and more fulfilled and 87% more likely to stay with you. That’s sweet in our book!
And, did you know, it can cost 12-18 months’ salary now to replace an employee…now that’s food for thought (Source: Hay Group, How to stop your talent taking flight)
So what do you do if you want to keep your business sweet and your employees engaged?
Here are some hints and tips to get you started…
- Start with engaged people, invest time in your selection and recruit well.
- Set clear expectations, and provide regular honest feedback.
- Develop your managers to bring out the best in their teams.
- Make the time to recognise what your staff are doing and remember to say thanks!
- Be trustworthy, honour your commitments and trust others.
- Understand different needs of your people and try to be flexible.