The New Driving Force of Productivity
For decades, businesses have been embarking on productivity improvement initiatives to reduce costs, improve efficiency or to put in automation. The benefits are often internal. As the years go by, the improvements are marginal, idea goes stale and people are jaded. Most people would brush it off as management’s expectation, a forever on-going “thing” or a means to cut costs.
Is this the end of productivity drive? Of course not!
Productivity improvement is still very much alive but no longer driven from internal but external, more specifically your customers!
The access to global markets through ecommerce, readily available information and real-time service have raised the customers’ expectations leaps and bounds. Customers are less likely to want to wait or tolerate bad products or services. Their power had also increased with social media where feedback is instant and outreach is wide. Hence, keeping customers happy also means having a source of reliable marketing (word of mouth).
Customers driving productivity brings an entire new perspective to productivity. Businesses no longer have the luxury to take their time to implement. It’s all part of the competition for customers.
For businesses to cope with this new challenge, there are 3 key factors that affect the level of success:
1. Change in mentality
The organisation strategy, business targets and culture needs to transform into one that is customer centric. It is important that every part of the organisation are synchronised to keep improving and keeping pace with competition.
2. Relentless pursue of technology
We all know that technology helps to reduce man-effort, cost and error rate. By saying relentless, it doesn’t mean we apply any technology that is available. There are so many new technologies and disruptors in the market that offer limitless possibilities. Hence, it is important for businesses to carefully study their current operations and make future plans to decide on the right technology roadmap.
3. Keeping your best people
I think no one would challenge the fact that talents are the ones that would propel an organisation to the top. Keep the best people would be an art that you would want to perfect!
Are you ready for the new productivity era?