INFORMATION
Ways to become more productive
The Power of Productivity report, a new study written by Dr. Alexander Grous from the London School of Economics and Political Science, has identified management best practice, technology and flexible working as three key levers which, when combined, have the power to unlock business productivity by as much as 20%. The report, commissioned by
Vodafone UK and undertaken by LSE, explores the UK’s productivity picture and draws on a range of industry research as well as LSE interviews conducted with more than 20,000 businesses worldwide in 35 countries. It highlights that: • While an organisation’s location can have an influence on business performance, a more granular assessment of the organisation itself can unlock productivity gains regardless of location
• Many SMEs are unaware of the options available or where to go for support to help them unlock productivity
• The ability of firms to periodically restructure and realign to respond to market changes is critical in order to survive future scenarios
The research comes at a time when
recent Office for National Statistics figures show low productivity rates across the UK and the continuing struggle to match the productivity levels of G7 counterparts – the UK is currently in sixth place. The UK Government also recently announced that raising productivity by just one per cent every year would add £250bn to the size of the economy within a decade.
Dr Alexander Grous said: “This
study highlights the steps that organisations of all sizes in every corner of the UK can take to not only supercharge their productivity but also help improve the strength of the UK economy. From our findings, the best performing companies show that by combining good management thinking, technology and flexible working practices you can boost performance significantly. “The first step is making the time to
assess your business and identify where you can make improvements. The report provides some initial guidance on the questions that business leaders should ask.” Phil Mottram, Enterprise
Director at Vodafone UK, said: “There are levers that businesses can use to increase productivity in their organisation which give them the ability to be better prepared for the future. We have taken our own steps to transform the way we work, through our ‘Better Ways of Working’ initiative. “We are also working closely with
businesses and public services across the UK to support how they transform the way their people, processes and operations work. The findings of the report highlight the need for greater collaboration and sharing of best practice across industry and the public sector, to help organisations make faster gains. UK business will face opportunity and uncertainty over the coming years. It’s important that improving productivity is top of the agenda to make sure the UK is ‘ready for anything.”
Phil Mottram
Business podcast offers shared learning
The daily personal and professional challenges in business can be complex and demanding. At times, we find ourselves pushed for time and stuck for fresh inspiration and new ideas to help move things forward. Yet the desire to appear competent and professional
can mean we miss out on opportunities to ask important questions and learn from the experiences of others. Those who succeed are often those who seek out
‘On the podcast guests share their professional story - offering valuable tips to listeners’
44 business network February 2017
different perspectives and apply their learning. However, time pressures mean it sometimes isn’t possible to attend all the networking and training events that may, or may not, add value. Many are now turning to podcasts for inspiration and
ideas. For the uninitiated, podcasts are audio shows you can listen to on the internet, or download to your smartphone, to listen on the move. Popular in the US, there are a small but growing number based in the UK.
Partnered by the Chamber, Twentisphere is a new
weekly business podcast. The podcast was founded in November 2016 by Carl Benfield, Managing Director of Leicestershire-based Prescient Power, and inspired by the lengthy battle to secure the ongoing success of his renewable energy company. On the podcast, guests, many from Derbyshire,
Nottinghamshire and Leicestershire, share their professional story from a personal perspective. These podcasts can create an environment for
shared learning. Listeners receive bite sized chunks of ideas and inspiration in a format they can easily listen to on their commute. Guests have an opportunity to offer value to businesses across the UK, make connections and create a piece of valuable content.
Visit
www.twentisphere.com to listen to the podcast - or get in touch, to offer to share your story.
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