Productivity Could Be Helped By Clearing Your Business Of Debt

16th February 2018.

February is off to a slow start, with only 7 percent of workers reporting high productivity this month and last. The country has seen its least productive decade since the 1820s.

The most recent UK Budget, in November 2017, highlighted longstanding productivity problems with the economy. In response, the Chancellor spent £31 billion on improving the skills of the workforce and the country’s infrastructure, but productivity problems still persist.

According to a recent study by the Financial Times, one of the major factors for the loss of productivity is a lack of sleep. Many workers either turn up to work drowsy and lethargic or do not turn up at all. One of the main sources of insomnia is anxiety, and if you are a business owner, a large debt pile could prompt many consecutive nights of tossing and turning. Increasing productivity means generating more sales and through sales you get cash, and we all know how important cash is to a business. Encouraging your employees to work harder can be difficult if bad cash flow has generated concern for your business’ prospects. Priority should, therefore, be placed on getting rid of bad payers, and returning your concentration to whipping your workers into shape.

Here at the Credit Protection Association, we help many of our members improve their cash flow and give their debtors a swift kick towards the door, and a much-needed boost to owner’s self-esteem.

According to the FT there is a health risk to losing sleep. A person who sleeps on average fewer than six hours a night has a 13 percent higher mortality risk and is more likely to have serious health problems as a result.

Taking time off due to sickness leads to a larger workload for your employees or even the hiring of a tempory worker who will decrease productivity further.

The research stipulates that longer lie-ins, nap rooms and flexible work hours for employees may be the answer. This will undoubtedly stop your employees from falling asleep at their desk, but it will not aid you. As a business owner, you must think of your company and consider the risk those unpaid invoices pose not only on your beauty sleep but on your company’s financial future.

Here at the Credit Protection Association, we are dedicated to clearing businesses of bad debt, bad payers and bad sleep. It’s imperative that your business is allowed room to breathe, and that you get rewarded for all your hard work and the services that you provide. We use our debt recovery service to chase down those overdue accounts, while our credit reports and monitoring software will ensure your customers are financial reliable, and that they stay that way.