Executive Edge Episode 1 - Why Productivity Matters for You

In case you’re wondering, we’ve just launched our exciting new series, "Executive Edge." This series dives into the hottest topics for business leaders, sparking conversations and insights around ongoing, evolving, and emerging business challenges. In our very first episode, SolidCAD President Marcus Tateishi talks about productivity—a buzzword that’s been buzzing in business circles for years. But why is productivity so crucial for all of us? Let’s dive into my take on it!

Understanding Productivity

Marcus made it clear: productivity isn’t just about working harder; it’s about working smarter. He pointed out that Canada’s labor productivity has been lagging, and understanding and improving productivity is essential for business success and growth. He broke this down by emphasizing three main drivers of productivity: capital intensity, labor composition, and multi-factor productivity (Productivity episode 1).

So, Why Does Productivity Matter, and for Who?

1. For Business Owners: Higher productivity means getting more output from the same input, which directly boosts your profit margins. It also makes your business more competitive and sustainable in the long run.
2. For Employees: Working in a productive environment doesn’t just enhance your skills and provide job security; it also opens up opportunities to earn more. In a productive company, employees are better insulated from the impacts of interest rate hikes and inflation, making productivity a key factor in your financial stability.
3. For Students: Understanding productivity trends prepares you for the workforce, helps you develop valuable skills, and gives you a competitive edge in your future career. Plus, being part of a productive environment could mean better earning potential and a more secure future when you eventually enter the job market (Productivity episode 1).

A Company-Wide Effort for Us

As an employee, it’s inspiring to see how Marcus has put these principles into practice within our own organization. He’s shared his insights on how productivity affects our processes, our organization, and each one of us. Marcus highlighted the importance of involving every department in the productivity drive. By equipping us with better tools and enhancing our skills through training, he’s ensuring that we can significantly improve our efficiency and output. He encouraged all of us to think about how we can contribute to this goal, making productivity a collective effort (Productivity episode 1).

Want to dive deeper into this topic? Watch the first video below—trust us, it’s worth your time! We also have two more videos scheduled for release in the upcoming weeks, so stay tuned for more insights from our "Executive Edge" series.