Let’s face it, the economy is not great right now, especially with Brexit still looming on the horizon. The pound has been dropping recently and businesses are struggling. The last thing on your mind is changing internet providers but it could actually have a major effect!
On average, a UK office worker loses an estimated 40 minutes a day due to slow internet. In other words, if you have slow and unreliable internet then for every worker you’ve got, you’re basically paying them 40 extra minutes for no extra work. That adds up to a huge loss, especially if you’ve got a large business to run.
That’s not all, though. That slow internet will also demoralize and frustrate employees. Web pages that won’t load, documents that won’t send, and video calls that they can’t access; all these will seriously affect both morale and productivity in a very negative way.
Likewise, customers will also be frustrated by slow online service and pages not loading. First impressions last and, if your customers can’t even access their own account, chances are they’ll be taking their business elsewhere.
Improved satisfaction also has the additional benefit of good reviews, word of mouth, and being described by others as a reliable service or retailer.
Another key part of any business is communication. If you can’t even get your emails in a timely manner than chances are that when there’s something important, you’ll be the last to know. Keeping communication channels open and accessible at any time helps to not only keep your business afloat but keep it informed!
Having fast internet also has a few more additional benefits. If your business allows it, employees can even work from home, thereby saving you on building space. A Stanford professor found that working from home provides a huge boost to productivity. Employees found it easier to concentrate and took fewer and shorter breaks.
Automation is another change that can be added with better internet. Not every job can be automated, mind you, but more data can be accumulated and analysed in real time to offer better, faster results with new products, new machinery, areas of production, supply lines, and even sales. This is especially important when rolling out new products or features.
Let’s now put this into a little more perspective. Upgrading to a higher speed *might* cost an extra £50 a month. Even with just one single worker at a £7 an hour rate will earn you more than your money back with their increase of production. Add in everything else and you really start to see just how much you can save with better internet.