Starr & Associates understands how to use the tools of business intelligence, analytics, and data mining to improve process efficiency and customer service. Our industry focus is diverse and includes public sector, healthcare, manufacturing, mining, and telecommunications. We use proven practices and technologies to improve productivity and reduce costs. In this article, we hope to present to you some of the best tips and tricks out there to use technology to improve your productivity!
Productivity: An Everyday Struggle and an Opportunity for Growth
Consumers should understand that technology can be a blessing or a curse for productivity. Increasing productivity with technology is possible when the right tools are utilized. Determine where you need a productivity boost in your everyday life and if there is a tech tool readily available to fill that gap – chances are, there is.
Based upon the information gathered in an online performance evaluation, managers can compare current skills with those required for advancement or other recognition or reward opportunities that present themselves as the manager tracks progress on employee goals throughout the year. Generally speaking, employees want to be appreciated for their hard work.
Productivity in an Example Setting
Productivity measures the economic performance of the resources employed in creating a casino product. For tourism and hospitality firms, variations in productivity are caused by differences in production technologies, resource availability, input quality, and economies of scale and size. Despite the growth in legalized gambling, there have been few studies investigating productivity among gaming firms. This is a sorrowful development – one can wonder why an industry as large as the gambling industry does not have proper productivity metrics, given its importance to world economies.
Despite the practical difficulties in measuring the economic output and input of casino gaming, data released by the industry suggest that this is a very productive sector. In principle, while social costs associated with the provision of casino gaming may downgrade its productivity, promotion of investment, production, and consumption of non-gaming services.
Work in casinos (as anyone will tell you) involves a lot of paperwork; so much so, in fact, that you might feel very overwhelmed by all the paper. Remember the “Four D’s” when handling paper:
- Dump it
- Delegate it
- Delay it
- Do it.
After you have delayed something, allow sufficient time to see if you need to act on that particular item. If not, toss it. Don’t gift wrap the garbage. It’s not necessary to do insignificant tasks perfectly.
With turnover rates near 80% in the casino resort industry, you need to ensure employees are not only happy but providing exceptional guest service. A good suite of casino resort-specific solutions can help you manage employees in all parts of your business from table games and retail, to housekeeping and events. Owning a casino is so much more than a simple business operation – the limits of your organization skills will be tested, and they will be tested severely.
Many casinos are asking their dealers and pit bosses to run manual processes such as using a hand ‘clicker counter’ to record cash drop and enter data into an ‘hourly pit sheet’ when they should be managing a table and looking after customers. It is now possible to automate these tasks. There isn’t a single excuse in the world not to do this; it could make or break your business.
With labor costs accounting for between 50-70 percent of all operating expenses in a casino, don’t over staff and spend or under staff and lose revenue opportunities. Efficient and effective work schedules are the key to keeping costs down and maximizing revenue. Monitoring staffing and fine-tuning schedules daily will help them be at their top approach.
Of course, you can take the simple approach and simply open one or many new online casinos. This will allow you to work with minimum staff. The issue here, of course, is that people are generally much less trustworthy of online casinos; however, you can end up being in a positive end of the scale by the fact that you don’t have that many salaries to pay. The choice is completely up to you.