10 tips to improve the productivity of your company

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Bancoldex made a list of alternatives that will allow you to implement new strategies to improve the productivity of your company.The productivity , defined as the relationship between the resources that your company invests in its operation and the benefits you get from it, is a key indicator when analyzing the state of your company and the quality of its administration.

Know the 10 recommendations of Bancoldex that can be very useful to make your company more and more productive.

Modernize yourself

Analyze the options you have to modernize your production apparatus, machinery, equipment, processes and management. Modernizing not only implies acquiring technology, it is also a way of thinking and projecting your company into the future. Through modernization, your company can increase its ability to adapt to change and remain in force, over time.

Innovate

Your competition is always innovating. For this reason it is important that you do it to avoid falling behind. The innovation will help you analyze your business model to find innovative ways to improve their management and make optimal use of its resources alternatives. Companies can innovate in their productive apparatus, the use of technology and organizational management, among other aspects. Through innovation your company can be more competitive and even achieve the development of new products and services.

Train your staff to improve competitiveness

The human capital of your company is your most important resource, which is why it is key that your employees are constantly trained and acquire new ones knowledge that allows them to continue developing skills to effectively and efficiently perform the tasks that correspond to them in your company. Training your employees will help you to have a good level of motivation, productivity, integration and commitment. There are different upgrade and training options that will allow managers and their employees to better develop their skills and competences, in order to increase the productivity of their business.

Apply administration by processes, not by functions

If each one of your collaborators understands that their responsibilities go beyond the simple fulfillment of specific functions and that in reality what matters is that the processes in the that the company is involved, because it benefits everyone, you will have a group of employees committed and willing to give their best to help the company. That’s what administration by processes is about. Some advantages that the application of this philosophy can bring are: better planning, higher quality of work, better overall performance of the organization and compliance with strategic objectives.

Become an effective motivator

Keeping your employees motivated and with a positive attitude towards the daily tasks and the work they perform is key so that all the processes in which they are involved be more productive This is why it is important to generate policies that ensure the welfare and satisfaction of employees. It should be noted that when talking about motivation we do not only refer to the salary or economic benefits that a company gives its employees. It is also about the activities and actions developed by organizations for the benefit of human capital (anniversaries, recognitions, training, etc …)

Manage time well

An important feature shared by successful people and businesses is proper time management. So that an organization or company can execute and carry out all the activities that have been proposed, it must organize and prioritize tasks according to time. This is one of the main resources whose use is necessary to optimize to increase productivity.

Use communication strategically

Communication is an essential element for your company to be more productive, since through good internal and external communication management you can establish action plans that support the achievement of your objectives, improve the work environment, generate a good reputation, make your portfolio known to your clients and properly coordinate the work within your company, among many other beneficial actions for your business.

Manage your working capital intelligently

A good management of your working capital guarantees the solvency of your company, which allows you to respond in a timely manner with all your financial obligations and generate favorable conditions to negotiate, both when selling, and when buying. Any margin gained affects productivity. In addition, when a company is solvent, it is at a lower risk of having to compromise its operation due to lack of appropriate resources.

Consider entering new markets

Possibly crossing national borders there are markets that you still do not know that are particularly favorable for your business. Opening up to the possibility of entering international markets can make you discover ways to increase your profitability and productivity, taking advantage of the opportunities offered by trade agreements. By contemplating internationalization, you will be able to expand your business and arrive with your products to different parts of the world.

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