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Five Reasons Why You Should Budget For Productivity In 2023
29th November 22
As we approach the end of another year, it’s an important time to consider what lies ahead. For businesses, thoughts turn to which upcoming projects will receive funding in next year’s budget.
Whilst you’re still deliberating, here are five reasons why you should include budget for productivity in your submission:
- The economic situation – Things are looking tight at the moment and it seems that it’s going to stay that way for the foreseeable future. By conducting a Time and Motion study, you can measure the time it takes to complete various tasks throughout your operations. Not only does this help to optimise colleague numbers, but these measurements also enable you to make evidence-based decisions about where your teams spend their time
- Take steps to see improvements sooner – By carrying out a detailed work study as you develop new initiatives, you help the test and learn cycle to move faster, enabling you to deliver your project benefits earlier
- Gain unique insights into your operations – Productivity experts can offer an unbiased and useful external perspective on what is and isn’t working within your operations. And it’s this wealth of experience that can help you reach your goals faster
- Identify where savings can be made – Measuring your operations during regular day-to-day activity can quantify savings that can either be banked or used to increase the funding available when new initiatives are rolled out to help support growth
- Ensure accuracy – By making sure activity times are included within your workload calculations, you will be more able to compile accurate core workload and gauge the impact of initiatives, allowing you to make informed trade-off decisions
Gain regular productivity insights with a subscription
At Rethink, we offer a subscription model which gives you the opportunity to use us as a resource (for advice or work measurement) whenever you need us through the year.
Amongst other things, a subscription can benefit your business by;
- Focusing on continuous improvement
- Gaining confidence in new operations
- Receiving regular input and support from our team of productivity experts
Find out more about how our subscription service can benefit your business.
It’s never too soon to think about the next budget cycle. Productivity work measurements can help you spot opportunities to achieve targets and create a robust business case for next year’s submission.