4 Tips for Increasing Business Efficiency

A 2021 Gallup survey found that 39% of employees feel engaged at work. That means over six in 10 don't feel engaged or are even actively disengaged.

Disengaged workers can hurt business efficiency, but they're not always to blame. Their lack of engagement may be a result of poor leadership or company practices.

For those reasons, improving workplace efficiency can also help boost workplace morale. The faster and better workplace operations are, the happier employees can be.

To that end, we came up with this guide on boosting efficiency and productivity in the workplace. Read on to discover the top strategies to make everyone more efficient at work.

1. Determine Time-Wasting Activities in Your Business

According to the Lean methodology, business processes result in eight types of waste. All these, from overproduction to difficult procedures, waste time and resources. However, all of them are also possible to mitigate, so long as you know that they exist in your business.

One way to figure out which processes consume a lot of time is to map them out using a flowchart. Flowchart software lets you organize processes into easy-to-digest diagrams. You can then review each step to see which ones either require the most time or contribute the most delays.

Accounting admin tasks are a perfect example of time-consuming activities. So much so that microbusiness owners spend about a quarter of their time on such tasks. Meetings also take up a lot of time, with senior managers spending up to 23 hours a week attending them.

2. Cut Back on Those Time Consumers

Using automation software can help you kickstart an effective time waste management program. For starters, you can automate many accounting, bookkeeping, and tax-related admin tasks. You can do the same for repetitive invoicing, banking, and even payroll activities.

It's also a smart move to cut weekly meeting times; instead of doing a full hour, try going for half an hour. This can save at least two hours a month, which can then go toward boosting business productivity. Creating an agenda before the actual meeting can help cut the time you guys spend in a meeting.

3. Don't Be Afraid to Outsource

You should be more afraid of not outsourcing, as this means you're missing out on potential talent. Do note that worldwide, employers outsource about 300,000 positions each year. In fact, many of these are from US governments and defense agencies.

Outsourcing some business processes, such as IT and marketing, can free up a lot of your time. It also helps reduce the burden your employees face. This helps boost office efficiency, as you can dedicate more time to core business tasks.

4. Reduce Health Hazards and Safety Risks

Job injuries and illnesses can significantly reduce workplace and production efficiency. Unfortunately, it's widespread in the US, with 2.8 million cases occurring in 2019 alone. They caused employees to miss a median of eight workdays.

The more injuries or illnesses in a workplace, the lower its productivity levels. Overall efficiency suffers too, as one absent worker can delay everyone else's work.

You can prevent these incidents by following OSHA guidelines and recommendations. The safer your workplace is, the more efficient your business processes will be.

Raise Morale and Bottom Line by Improving Business Efficiency

As you can see, an act as simple as automating tasks can already boost business efficiency. Even just cutting short meeting times can give you and your team more time to dedicate to crucial tasks. Most of all, keep the workplace free of hazards, as safe workplaces are key to happy employees.

Looking for more guides that can help you grow a profitable and healthy business? Then feel free to check out our other educational resources!