Productivity in Aotearoa: Harnessing digital tools to close the gap

There are never enough hours in a day! In business, when it’s impossible to find more time, the focus must turn to getting more out of the hours we have.

Unfortunately, recent research commissioned by Xero and conducted by NZIER shows Kiwis aren’t
very good at this.

If we want to achieve the same output per hour as OECD-leading Ireland, Kiwis will need to work 10 additional hours per day.

And even to simply reach the OECD’s average productivity mark? An extra eight hours per week.

This is obviously impossible, but the numbers do highlight how we can’t just hunker down and
work harder to get through these challenging times - we have to work smarter.

We know progress is made when small businesses embrace digital tools.

In fact, previous NZIER research found a 20 percent increase in the uptake of cloud computing could increase New Zealand’s GDP by between $3.5 billion and $6.2 billion through labour savings and productivity improvements.

Small businesses can start this step immediately, by focusing on one or two business pain points
and looking for digital tools to help.

Make it a priority to explore the Digital Boost website for technology that could help your business  and be sure to speak with your accountant for the latest advice on digital tools.

With the ongoing labour shortage we need to use the technology available to ensure every hour spent at work is doing something only a human can do.

By Bridget Snelling, Xero New Zealand Country Manager.