3 ways for SMEs to boost productivity

November 24th, 2014

Is your business achieving enough?

Small businesses in Australia face a range of productivity challenges, not least of all the need to get though an ever-mounting to-do list with only so many hours in a day. With a range of different demands on an individual's time, having the right approach to employee productivity is going to be essential for building a strong business.

So how can a small company boost employee productivity? Here are three different ways:

Address repetitive tasks

One of the biggest challenges for companies is the small, time-consuming jobs that often take up a lot of the day and distract workers from their other responsibilities. Addressing these challenges is therefore going to be essential for boosting the productivity of your business.

Chasing invoices is just one area where companies can save time and unlock greater productivity. By assigning invoices to a debtor financing agency, rather than following them up yourself, organisations can become more productive in the long run.

Keep workers safe

Employee safety may not be the most obvious way to tackle productivity, but there is a clear correlation between safe workers and an improved working environment. In fact, a recent study from the University of Melbourne found there to be a measurable connection between safety and productivity.

The main reason for this link is that workers who aren't safe in their operations will often need to take extended breaks from work, making them less productive and forcing businesses to find less than ideal arrangements.

Avoid multi tasking

In a small business, it is likely that you and your staff will be filling a number of different roles during the day. While this is inevitable, there are also challenges that can come from this arrangement, especially when it comes to your business productivity.

By focussing on specific tasks one at a time, both you and your staff will be able to achieve more during the day, helping your business to run more efficiently.

Earlypay has supported Australian SMEs with fast and flexible alternative funding solutions for more than 20 years. Our invoice finance and equipment finance products allow business owners to proactively manage their cash flow, freeing up your working capital for investing in growth. To chat about whether our solutions could be right for your business, call us on 1300 760 205.

If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].