When you’re running an SME, one of the biggest things that you are trying to achieve is high levels of productivity. Being productive means that your workforce is hitting targets and is producing high levels of work, which will in turn ensure that your SME can continue to grow.

With the benefits of productivity being so widely-known, it will probably come as a surprise that research conducted by The Close Brothers Group found that one in 20 SMEs don’t actually know what it means and one in 10 would rather not measure it at all.

So, why is productivity so important and how can you ensure that your SME is practicing it? Read on to find out more. 

Time management

This is perhaps the most important thing for SMEs when it comes to remaining productive, especially if you are a start-up. It’s likely that you have a lot to do on any given day, and in order to ensure that you don’t fall behind, you will need to dedicate a certain amount of time to specific tasks and also think about what is the most pressing matter that needs to be dealt with first. Try writing out everything you need to get done and setting yourself a time limit for each one.

Don’t rush your work

When your workload is mounting, it can be tempting to start to rush through tasks in order to get things done quicker. It’s important to realize that this is counter-productive and is likely to slow you down in the long run. Rushing work is more likely to lead to mistakes which will mean that work will need to be redone. This can also have a negative impact on staff morale, which will in turn affect productivity, and the vicious cycle continues.

Consider the culture of your company

In most cases, happy workers are productive workers, so you’ll need to carefully consider the type of environment that you want to create within your company. Generally speaking, organizations that promote communication and encourage staff to interact with each other will have higher levels of productivity.

Collaborate 

The benefits of running an SME is that you will have the ability to target a large, growing market. Unfortunately, however, it is also likely that you won’t be able to access as many resources as you would like to in order to reach your targets. To overcome this, consider the benefits of using shared infrastructure, shared services and complementary sales partnerships.

Hiring high-quality staff is a problem for all businesses and it seems that at the moment SMEs are faring pretty badly when it comes to recruitment and retention.

With statistics revealing that one in five SMEs have problems with high levels of staff turnover and recruitment, what steps can businesses take to ensure that they get the right talent through the door and hold onto them to?

Look for more than a technical ability

When it comes to hiring new staff, one of the most important things to realize is that while technical skills can be taught, morals and values cannot. You need to find people that have the same attitude that you are promoting within your company as this will ensure that they can integrate well into your team. To achieve this, be open and upfront about your company culture and invite them to meet the other members of your team so you can get a feel for how well they are likely to fit in. Someone who is a good match and shares the same core values that you do regarding business is much more likely to stick around than someone who doesn’t.

Consider the future of your business

When recruiting, it can be easy to consider the here and now and think about what skills you need to fill today’s requirement, but if your business is dynamic, it’s likely that you’re always thinking about growth. In terms of recruiting, you need to look for people that will be able to develop with your company, and this is particularly important for junior roles. Consider the skill-set of every person that you interview and think about how you could build on these to fit the needs of your company in the future.

Engage with learning and development

If you want your SME to grow and prosper, you need to make sure that you are constantly encouraging your team to develop their skills. Be sure to mention that this is something that is part of your culture at interview stage. Ambitious candidates will be excited by the opportunity to work their way up through the ranks.

Keep it consistent

If different people are conducting interviews throughout your company, you need to be sure that there is a level of consistency being applied. The same questions should be being asked, as well as information about the company being presented.