Productivity has almost become a buzzword of sorts.
There are hundreds of books and articles written about increasing productivity, and how to be more productive every single almost every day.
The fact that there is that much data and content around the subject that is not too much of a hassle is almost worrisome. There can not be that many unproductive people out there considering there has been a rise in workplace productivity, albeit, work-related stress is at an all-time high.
Though it is not that hard of a process, it is definitely difficult to improve, or increase your productivity once you have plateaued.
The key is to make sure that you have a goal-oriented approach to being productive. The best way to go about it is to measure your productivity is using goals as the benchmark to see how much you can produce every single week, month, quarter.
How To Calculate Productivity
The three staples of measuring performance are productivity, efficiency, and effectiveness. Productivity is essential for the other two, as your efficiency is determined by how productive you are, and your effectiveness is determined by how much you produce.
Basically, productivity is the basis of your work output. And If you’re looking for a simple definition of productivity it’s basically the measurement of output and input.
The more you’re able to produce in a set amount of time, the more “productive” you are.
Productivity can be calculated for different positions in different ways. Setting performance goals allows you to reach new heights, but more importantly, seeing where you falter and where you succeed.
There is a rise in people analytics software, especially with HR tech, for a reason if something can be measured can be improved. That is why it’s vital to not only cycles but to make sure that you are tracking everything that you do.
It could be something as simple as setting up a personal system of yours to set up a numeric value that’ll help determine your output a daily basis. And if it can be automated, even better.
Example: let’s say you want to increase site views on your business blog, set up the goals and factors in a site analytics software. Every single day he’ll be able to see the data behind some of the missed opportunities you had or some of the things that are working for you. Make sure that you capitalize on it by adjusting to your strengths and fixing your weaknesses.
After you establish goals, it’s a matter of constantly reinventing yourself. Make sure that every one of your moves is calculated but more importantly that you’re able to adjust quickly. The faster that you’re able to find a flaw in your productivity method the easier it is to fix.
Measuring Your Output By Looking At Input Figure
Upon setting those performance indicators or goals, you may have you’re going to the output that you’ll measure.
Select a period of time that will help you measure your output, and you can cross-reference your output with time order to see the value of your work and keep on optimizing your process.
This period of time will be known as your input figure. Think of it as the X to your Y, the time that you will spend and how much you do when in that time, determines how productive you are.
Determining Your Value By Calculating Your Productivity
Of the best things to do is to assign a dollar value to your productivity is to measure the cost to benefit ratio.
In North America, a lot of companies decide to underpay hard-working employees. If you’re looking for some sort of algorithm to determine your true value and how much money you bring into the company, just simply use the aforementioned examples of calculating your output and your input figure.
If you bring in a significant amount of value for your company and they are necessarily paying you the industry average, having these metrics will help you in a performance evaluation to help prove your case. You don’t have to approach it in a hostile matter, but management is made aware in a private setting they will take action to help you.
To quote a film “always be closing” the more you excel and the more you hustle the better it’ll be for you in a personal and business standpoint.
Calculating Productivity From A Department Or Team Standpoint
When you’re done figuring out what makes you a more productive individual, it’s time to make sure that those around you are doing better.
There’s a reason that I stressed having key performance indicators within an office. Not only is it a practice of some of the best companies out there, but it’s a good way of calculating productivity from a department standpoint.
There is a high-level, monetary perspective, you can use calculate labor productivity. It’s simply dividing the number of people employed and the total earnings of the company. The only thing I would say is flawed with that system is that there are certain positions within companies that don’t generate any revenue but bring a lot of business to a company.
The best way to view the value of productivity from a large group, or team, is to see how they are accomplishing their goals and is their output is generating a lot of business, or value, for the company, or team.
Yes, efficiency is one of the most important factors to calculating productivity but it could also be the most hurtful. When you plateau and reach the point of satisfaction with your work, it’s easy for you or your team to lose that innovation.
So aside from actually having to do a lot of work and constantly tweaking it, you have to keep on accepting new ideas that’ll make you and your team better and reinvent your company’s wheel so to speak.
What Will You Do To Calculate Your Productivity?
Remember, productivity is relative to the person, or team, that is looking to improve themselves. There are couple global factors that going to an industry productivity but make sure that it is original and something that you can tweak on your own.