Intelligently Weathering Economic Downturns
Let’s take out our binoculars and check the economic horizon. It’s no secret that inflation is on the rise. Prices for almost everything from soda to diapers, to real estate are predicted to continue to increase over the next three months. Additionally, the current rise in tariffs is expected to put domestic businesses in a tight spot. It’s a jungle out there.
Essentially, economists agree that the view doesn’t look good, but it’s not dismal yet. There is still time to prepare for the twists and turns in today’s unpredictable economy, so your business can weather what may come its way.
Prodoscore gives you the information you need to make decisions you can feel good about when it comes to making sure your business is in the best shape it can be in the face of potential slips in the overall economy.
How Prodoscore Can Help
Prodoscore helps you maintain maximum efficiency at minimum cost. It goes beyond relying on your CRM and data entry for stats on employee task management. Prodoscore measures time spent on each activity across your Office Suite, CRM, and more, in order to create a unique Productivity Score™ for each individual employee, so that you can hold your team members accountable and manage any noticeable issues before they turn into disasters.
Productivity scores make it easier to tell who could use coaching and who could use a boost, so that you can catch downturns within your business before they get any worse, not to mention you can also notice what folks are doing well. In case studies, Prodoscore presented multiple opportunities for proactive coaching, including personalized responses and incentives in specific focus areas.
One such case testimony comes from Joey Maller, Sales Manager of UpCurve, who shares how Prodoscore transformed how he handled deficiencies in the workplace, while increasing productivity and sales, strengthening his organization. Prodoscore stood out to Maller because “instead of having to understand a bunch of data across different systems, it gave me one score I could use as a benchmark.”
After a few weeks, Maller could notice patterns in those benchmark numbers and was able to use them to be “proactive about finding solutions instead of reactive when problems get out of control,” ultimately strengthening the team in the long haul.
What Does This Mean Economically?
Part of keeping a company strong during an economic downturn is making sure to take care of things before they start to snowball downhill. Prodoscore helps by sending warnings when someone’s score begins to slip and providing a way to make sure workers are being productive, even those that work remotely.
By working with employees before problems worsen, you can help employees and increase retention. You can also reward hard-working employees which also helps with retaining your top talent. Every time you avoid needing a new hire, you avoid losing thousands of dollars in lost productivity and training costs.
Productivity metrics can also assist HR when making decisions regarding employees and provide quantitative metrics for HR decision making.
Opening Up the World of Remote Work
One of the biggest costs for a business is location. By being in San Francisco, LA, Chicago, New York, or another major city, office space and employee salaries all need to rise to match the cost of living.
But by allowing employees to work remote, they can work in different states and areas that have a lower cost of living. Instead of paying $100K for an employee to live in New York, you can pay 65K for that employee to live outside of Birmingham, AL.
Prodoscore allows you to make sure those employees are managed efficiently despite not being in the office with you. You’ll have insight into daily activity and can see the results of your remote workers so there are no worries about productivity. And, your business becomes more sustainable.
What Are You Waiting For?
Prodoscore provides the analysis you need to keep things productive inside or outside the office so that your numbers won’t be hurt by economic events outside your control. When it comes to strategically weathering an economic downturn, Prodoscore ensures you’ll have the insight you need to keep operations running smoothly.