The news media has been reporting that Canadian productivity gains are embarrassingly low. Instead of viewing this as abstract information that is irrelevant to you, why not take up the challenge to boost productivity. You may not have a choice anyway. The Conference Board of Canada predicts that by 2031, only 23 workers will be doing the work that 50 workers do today.
Take a look around you and imagine that only half your coworkers are left to do the existing amount of work!
Slipping productivity will also hurt your organization’s ability to compete because your competition will be striving to do more work for less cost, decimating your margins.
We’ll examine two practical solutions below.
In May, we’re offering the Front Line Leadership course in London, Ontario, Mississauga, Ontario and possibly Chatham, Ontario.
Have a great week!
Because I am in the leadership development business, you can anticipate the first recommendation: Be an employer of choice. Great leadership will help you attract and retain great employees and those great employees can create the productivity you are looking for.
Let your competition suffer from not having enough workers to fill the orders they have while your company enjoys sustainable profitability.
But even that will not be enough…
Recommendation number two: You need to relentlessly pursue ways to get greater output from the same number of workers. Labor advocates might fear this means asking employees to work harder. In reality that won’t solve the problem. Generally people put in the same amount of effort over time with occasional blips that are higher or lower.
So the solution is to look for ways to improve work methods and apply technology to get more output from the existing resources.
And that means mobilizing your workforce now to get on with those improvements. Getting ahead of the curve in the short run will allow you to grow without adding resources and boost your bottom line. As older workers retire and fewer younger workers are around to replace them, you will be able to stay in business when your competitors cannot.
Both of these solutions require both strong management and strong leadership. And of course we would love to help you meet this challenge!
What active steps is your organization taking to both boost the output of existing resources while creating a work environment that attracts the best talent? What will happen to your organization if it does not take this challenge seriously?