5 Ways to Invest in the Productivity of Your Workforce

No investment business can function without great employees: a successful team of happy, motivated, and skilled individuals all working together to get things done. When a workforce bands together as a cohesive unit, amazing things can happen, and this productivity can bring unbelievable benefits to your business.

But if there is even a single weak link in this chain, things can start to fall apart. Other employees have to take up the slack, causing their own productivity to decline. Collaboration and communication disintegrate, and you may start to notice the impact on your own output and profits.

In order to run a successful business, you need to have a first-class team who you can trust and rely on to get the job done, whether in the office or on the trading floor. But as a manager, you are the one with the power and authority to make this happen.

To help you get the most from your talented employees, here are a few key ways to maximize the productivity of your workforce.

Hire the Right People

It may seem obvious, but the key to the perfect team is having the right people on board. The most important step is the hiring process, in which you can filter through the applicants and find the best of the best.

This starts with a great job advert, in which you need to explain exactly what the role entails and the type of person you are looking for to fill the role. This person specification is more than just a list of qualifications and experience, it should also specify the personal attributes and traits you want from an employee.

This will immediately filter out the wrong sort of people, so you don’t have to waste time interviewing candidates who aren’t even remotely suitable for the role. You can sort through the applicants and pick the most promising ones to come in for an interview.

It’s worth starting with a short phone interview so you can get a sense of the candidate’s personality and integrity before committing to a face-to-face meeting. During the interview, make sure you ask the right questions that not only demonstrate the candidate’s skillset, but also their work ethic and passion for the job. You want to hire someone who works because they love it, not just as a means to fill their days and make money.

Empower Your Staff

Now that you have hired the right people, you need to ensure they have everything they need to be at the top of their game and get amazing work done. This means a full and thorough onboarding process so they can get to grips with your company, its software and its processes right away.

Provide regular training opportunities to enable staff to boost their skills, and let junior staff learn from senior employees to facilitate career progression and limit islands of knowledge within the business.

Schedule Work Effectively

As a manager, you are responsible for ensuring your employees know what work needs doing, and the timeframe in which it needs to be completed. Effective scheduling is about more than just filling time slots, it is about planning and organization that creates the most efficient and productive workforce possible.

There are so many ways to achieve this, but it’s essential you create a regular scheduling routine and use a schedule template that is easy to read and understand. There are plenty of tools and software that can help you in this regard.

Read Employee Work Scheduling: The Complete Guide For Managers for more tips on scheduling work.

Avoid Micromanaging

We’ve all had to deal with overbearing bosses in the past, and this is the last thing you want to be. If you have to micromanage your team, it means you haven’t hired the right staff. The best employees should be trusted to get on with the task and hand and produce amazing results. Micromanaging not only creates a lack of trust and respect, but it also wastes your own valuable time that would be better spent on growing the business.

It’s still important to check in on your staff, and be there for them when they need your help, but give them free rein to get things done. Their results will speak for themselves, and you will be creating an atmosphere and trust and positivity in the office.

Promote a Healthy Work-Life Balance

Your business may be the most important thing in your life, but for your staff it is just a job. Of course you want to hire employees who love their career and care about the work they do, but the reality is that they have more important things in their life. They don’t want to be working late into the night or responding to emails on a Sunday morning.

Allowing your staff to maintain a healthy work-life balance will ensure they are happier in the office, and will be more productive and relaxed as a result. Again, if you have hired amazing people, they should be empowered to work in whatever way they prefer. As long as they get the work done, it shouldn’t matter what hours they work or where they choose to work from.

Create a culture of flexible working, in which your employees can choose to work from home or another location whenever they need to, and can work whatever hours or days are necessary to get the job done. Of course there will be important meetings to attend and deadlines to hit, but maximum freedom cultivates maximum productivity. 

Conclusion

In conclusion, a productive workforce can only exist if management is committed to their staff. You need to hire the best people for the job and give them all the tools and support they need to do their work in their own way. Prioritize their happiness and wellbeing, and they will be more motivated and committed to their jobs. Avoid micromanaging and use your role as a way to provide support and advice when needed. By following these tips, you will soon start to experience huge business benefits.