Recently, we talked about productivity, and how it can be defined. We wanted to continue our deep dive into the concept of productivity with an examination of the different ways that you can measure your own.
So, how can you keep track of your productivity?
How Productivity Can Be Measured
Output from Input
This is the formula that we covered in the last blog, but we’ll go over it again.
Productivity = Output/Input
Basically, by comparing how much you’ve invested into your productivity to the returns that investment has garnered, you are given your productivity metric. This option is a very straightforward and scalable way to gauge how productive your efforts are.
However, it is not your only option, and arguably just one of many you should use to track your productivity. Let’s explore some of the other options you have.
Your Own Key Performance Indicators
You’ve likely compiled a few choice key performance indicators—KPIs—that you keep track of as a means of monitoring your metrics. You can use some of these to help give yourself a more general idea of how productive your team members are by analyzing some of your business’ trends, while also supplementing these analyses with other data points, like customer satisfaction and other impactful measures.
How many assigned tasks are your team members making their way through in a measured time? While this is a relatively simplistic view of productivity, this information can still be a valuable means of collecting some vital information about your own internal workings.
You can also qualify productivity based on how well your assorted efforts are performing. Once a major project is wrapped up—let’s say it was an internal overhaul of a previously established process—comparing the results after its implementation to those you were accomplishing before can give you some insight into what works best.
Your means of measuring how productive you are—or aren’t—being is basically only limited by your creativity and the metrics you have access to.
Stick around, because we have a lot more to talk about regarding your productivity. Next time, we’ll talk about the various wrenches that can jam you up…and how to avoid them. In the meantime, check out some of our other blogs, or reach out to us at (646) 741-1166 with any questions you may have!