Efficiency increases can be viewed as either a reduction in cost or an increase in capacity. When viewed as an increase in capacity the result is that more labor hours are available for sale. From this perspective for every 1,000 hours of labor a 1% increase in efficiency equates to 10 additional hours of labor that can be sold. Estimated hours are the starting point for efficiency measurements and therefore they need to be reliable and consistent. Through setting realistic goals and process improvement efficiency ratings can be improved over time. To learn how FastTrak supports improving the employee efficiency rate click the link below:
