No matter what you might use it for, everyone can agree that one of the best ways to optimize a small business loan is to boost efficiency in the workplace. Improving the company through eliminating inefficiencies doesn’t require owners or employees to work longer hours, but it can nonetheless increase productivity, ultimately leading to greater revenue.
Despite the bevy of benefits greater efficiency offers, nearly 80 percent of Americans want to be more efficient, according to a recent survey by Crucial.com. While improving efficiency levels is not something that happens overnight, there are multiple ways small-business owners can implement greater efficiency rates.
Here are four ways owners can utilize a small business loan to maximize efficiency levels in employees:
- Circulate smart mobile devices
According to the survey, 87 percent of Americans said technology is crucial to their productivity levels. Additionally, 63 percent said technological failures contributed the most to their lack of efficiency. In this light, small-business owners should invest the necessary working capital into the company to ensure employees have access to adequate technology to help boost efficiency. In particular, circulating smart mobile devices for workers allows them to remain in contact with the company during sales calls or at on-site meetings. This alleviates the burdens of waiting to return to the office and provides real-time access to all pending emails and data, especially for companies that utilize enterprise resource planning software.
- Update technology
Slow computers or out-of-date software can wreak havoc on a company’s efficiency levels. Not only does top-of-line technology increase productivity, using better devices also has a psychological effect on workers. Four out of 10 male respondents to the survey indicated that having a fast computer makes them more productive. When employees deal with slower technology on a regular basis, they become frustrated and disinclined to perform their workplace duties. Upgrading the computers and other office technology not only boosts efficiency, it can also help employees get into the groove of being more productive. Besides loans, IT equipment leasing can help conserve capital and ensure your business has the most up-to-date technology.
- Review ergonomic standards
Many small-business owners fail to consider how the layout and design of chairs, desks and work places can impact employee productivity and efficiency levels. Poor workstation components can create problems and significantly decrease efficiency. According to the Occupational Safety and Health Administration, providing ergonomic chairs, desks, document holders, keyboards, computer monitors, telephones and wrist/palm supports for employees decreases physical stress levels by maintaining neutral body positioning, which is the comfortable working posture where a person’s joints are naturally aligned. Having workstations that are not ergonomic can create additional stress and strain on the employee’s body, leading to a decline in productivity, and, in some scenarios, physical pain and suffering. Owners can avoid these issues by having the right kind of ergonomic workstations for employees.
- Streamline marketing platforms
Marketing the business is always a top-of-mind priority for owners, and one that takes a significant amount of time and resources. Marketing efforts tend to be siloed off into a variety of platforms, including email blasts, social media exposure, and advertising efforts. All of these methods require individual attention and dedication to make them work efficiently. For many small businesses, the owner is the sole marketer, which means these myriad methods detract from other important endeavors. However, according to SocialMediaExaminer, with applications like MarketMeSuite, owners can manage all their social media profiles in one, easy-to-use design. This not only decreases the amount of time spent switching between LinkedIn and Facebook, or Twitter and YouTube, but it also helps owners keep track of potential leads and prospective clients all in a single repository.