How to Outperform the Competition by Reducing “Drag”

How to Outperform the Competition by Reducing “Drag”

A recent article in Harvard Business Review draws an interesting distinction between the goals of efficiency and productivity. It explains that while efficiency is about doing more in less time, productivity is about doing more in the same amount of time.

The article explains that the gains realized by focusing on efficiency have “petered out” and modern companies are taking a different view by focusing on productivity. HBR research found that the average company loses 20 percent of its productive capacity (more than a day a week) due to “organizational drag” – due to ineffective structures and processes that consume valuable time.

The research further found that some companies are 40 percent more productive than their peers, yielding operating margins that are 30 to 50 percent higher than that of their competitors. Wow!

How do you achieve productivity?

It starts with aligning the firm’s purpose with each individual’s purpose and giving every employee the opportunity to do his or her best work. HBR research shows that an inspired employee can be 125 percent more productive than an employee who is merely satisfied!

The bottom line is you must leverage your talent – placing the right people in the right positions and empowering them to reach their full potential.

The role of technology

When employees are required to use manual workarounds, and tasks take far longer than they should, your productivity is at risk. It may be worth your time to customize reports, data fields and processes, and by doing so, you just might inspire greater productivity from your team.

How Travisoft Professional Services can help

If you want to amp productivity in your Travisoft portal, here are some ways we can help:

  • Custom lettersets for unique administration needs, such as custom billing arrangements
  • Extracts and custom reports for employers, carriers or third parties
  • Unique fields and datasets for your tracking, calculation or reporting needs
  • Automation of processes that are currently manual
  • New permission sets or data fields for internal or external users
  • New benefits plan or benefit plan option for a unique billing arrangement

Want to learn more?

Let us help you with an assessment of your workflows and automations opportunities to see how we can help you get better results while working less. If you have any ideas, we’d love to hear them. The possibilities for customization are endless!

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