The UK productivity puzzle: an alternative solution. In spite of strong growth in employment…

…the UK’s productivity is still lagging behind its European peers…

It’s a conundrum which continues to perplex both UK and global economists but, notwithstanding the wider implications for the UK’s recovery, boosting productivity remains a perpetual strategic imperative for any excellent organisation – and not just an immediate economic necessity. Whilst the economists are grappling with their latest theories behind this current trend, we reflect on the principles of excellence. By embedding these within your own business, you too can improve productivity performance and achieve business excellence.

1. Leadership
Excellent leaders are clear about what matters most to their organisation, and this clarity is conveyed with conviction both to internal and external stakeholders. They take a personal interest in acquiring and aligning the requisite resources to enable success.

2. Customer driven
A thorough understanding of your customers’ needs and requirements is essential to achieve high performance. Excellent organisations make a habit of measuring their performance against this customer intelligence.

3. Balanced positive outcomes
Be sure to capture business performance if you are serious about excelling in your market. Implementing a set of robust and resilient measures will give a balanced view of how well your organisation is doing.

4. Processes
Clearly defined and continuously improving processes are essential to ensure your business delivers excellent products and services to your customers. Build on strengths and eliminate waste, and you can’t fail to boost productivity.

5. Management by fact
Robust reporting and decision-making systems provide excellent organisations with reliable evidence and relevant intelligence, enabling management by fact.

6. Involvement of people
Invest in your staff to develop and release their full potential, and it won’t just be the individuals themselves who reap the benefits – both the sum and the parts of your business will excel.

7. Working with others
First class organisations are not afraid to collaborate – they actively embrace it as an opportunity to optimise performance and achieve ongoing success.

8. Cause and effect
If you understand the links between what your business does and what it achieves, you are ensuring its ongoing development and long-term sustainability.

9. Continuous improvement
Excellent organisations embed a culture of learning, continuous improvement, and innovation to ensure the very best environment in which high performance can thrive.

10. Responsibility and integrity
Operating to the very highest standards within the workplace, markets, and society as a whole is clearly understood and enacted by excellent organisations. Good governance and appropriate management systems will ensure impeccable business behaviour and enduring high performance.

To find out more about the Investors in Excellence Standard or our business improvement programmes call the team on +44 (0)121 746 3150 or complete our simple online form.