Quite often, Project Managers and Business owners only focus on increasing sale rates and decreasing freelancers’ rates to rise profitability. While this has to be under control, there are additional aspects that affect our bottom line.
According to Cambridge Dictionary:
Efficiency : a situation in which a person, company, factory, etc. uses resources such as time, materials, or labour well, without wasting any.
Efficacy: the ability to produce the intended result.
There are two areas that we can explore to improve our efficiency and increase our efficacy:
Knowledge flow in our organisation
Automation and humanisation
By focusing on these aspects, we will also see benefits in our relationship with our clients and providers.