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The secret to productivity lies in excellence, intelligent planning, and smart business ventures. However, keeping employees busy as bees does not make them more productive. Humans, unlike bees, come with distractions.
In fact, employees are only productive 60% of the time spent in the workplace. Idle, ill-directed, and ineffective employees cost money, and it is an employer’s job to make sure they are appropriately motivated and engaged.
To do this, employers need to understand what drives their employees and how to create an environment that fosters motivation and engagement. By doing so, employers can increase productivity and profitability.
Key Productivity Facts
- A productivity ratio is a standard formula for figuring out how productive an organization is: Effort / Effort Ratio As a measure of the economy’s productivity, GDP per hour worked is divided by the total number of hours worked.
- The annual percent change in GDP is used to gauge economic growth.
- The output (of goods and services) per hour is referred to as labor productivity.
- Efforts can be counted in two ways:
- It’s either the number of hours worked or the number of workers that make up the total.
Productivity and Communication Statistics
Miscommunication and communication barriers cost U.S. and U.K. companies with more than 100,000 workers an estimated $62.4 million in lost productivity each year, according to a survey of 400 companies.
Ineffective communication is cited by 86% of executives as the primary source of productivity problems.
Managing emails takes up about 28% of an interaction worker’s time, and 20% of their time is spent looking for internal information or asking a coworker for help, according to one estimate.
According to the McKinsey Global Institute
, interaction workers’ productivity could rise by 20 to 25 percent if they fully utilised social technologies for communication.
A company’s internal use of social media could reduce the time spent searching for company information by up to 35%.
Productivity and Technology Statistics
Schneider Electric conducted a survey of 125 Swedish businesses in 2019 and found that more than half of respondents expected increased productivity as a result of a smart office.
PricewaterhouseCoopers conducted a survey and found that 49% of respondents thought wearable technology would improve workplace productivity..
With video conferencing, businesses save up to 30 percent on travel costs, and 94% of those who use it regularly say that it boosts productivity.
Productivity and Employee Engagement Statistics
A Gallup study found that teams with high levels of employee engagement were 21 percent more profitable than those with low levels of employee engagement.
Employees who are highly engaged in their work see a 20% increase in sales and a 10% increase in customer satisfaction ratings.
A 17 percent increase in overall productivity can be attributed to more engaged workers.
When disengaged employees were compared to engaged employees, there was a 1000-fold increase in errors.
According to a study by The Engagement Institute, American businesses lose up to $550 billion annually as a result of disengaged workers.
Productivity and Workplace Trends and Remote Work Statistics
As a result of the COVID-19 pandemic, global trade, and the way people viewed their careers were fundamentally altered.
Seventy-three percent of American workers in 2020 reported looking for or keeping an eye out for new employment prospects, up from 51 percent in 2017.
The high rate of turnover caused by this trend may have a major effect on productivity.
It’s not only that more and more meetings are being held virtually; employees are also reporting feeling more and more burned out from all those online gatherings.
According to research conducted by Virtira Consulting, nearly half of all remote workers report feeling extremely exhausted on a regular basis due to the large number of online meetings they are required to attend.
The research also indicated that as many as 80% of companies are considering going remote or implementing a hybrid strategy.
According to a poll of CIOs throughout the world, the percentage of businesses that allow remote workers increased from 16% before COVID-19 to 70% by March 2021.
A similar survey found that 31% of people thought remote employment will become the norm.
Work-Life Balance and Productivity Statistics
Overwork has a 68 percent negative impact on productivity.
3 of the top 10 most productive countries are Scandinavian, where the average employee does not work more than 40 hours per week, resulting in a better work-life balance.
An increase in productivity can be achieved by companies that promote work-life balance.
General Employee Productivity Statistics
Approximately 2 hours and 53 minutes per day is the average amount of time an office worker in the United Kingdom works productively.
The top ten percent of most productive employees work for an average of 52 minutes before taking a break.
Factors Causing Low Employee Productivity Statistics
In a world where $450 billion is lost in productivity every year due to multitasking, this is a serious problem.
Another important factor is the number of stress employees are under at work.
One million workers are estimated to be absent from work on any given day because of work-related stress.
A typical annual cost for businesses is $602 for each employee.
The opposite is also true: stressed-out employees are less productive.
An estimated $150 billion in productivity is lost annually as a result of these employees, according to the International Foundation of Employee Benefit Plans.
Among the 1,150 adults surveyed by YouGov, 30% said they would be more productive at work if they couldn’t use their smartphones.
42 percent of those surveyed in the same poll admitted that they spend too much time on their smartphones.
A survey of more than 2,000 employees around the world found that 28.3 percent of those polled had difficulty concentrating since the outbreak of COVID-19.
Factors Improving Employee Productivity Statistics
Recognition improves productivity by 14%, but only 20% of workers feel valued at work.
Productivity can be boosted by implementing a wellness program at your company.
Sixty-one percent of employees who took part in the survey said that their productivity and overall job satisfaction had both improved as a result of the company wellness program’s health benefits.
Call center workers were asked to work from home for nine months in a Harvard study, and their productivity increased by 13 percent. Working from home increased not only productivity but also well-being and performance.
A 9 percent increase in working time, fewer sick days, and more punctuality resulted in higher bonuses for many workers, enhancing the overall employee experience. Workforces that are content are more productive.
Employee productivity rises by 12 percent when they are happy.
Productivity by Country
Luxembourg ($118.73) Ireland ($95.51) Switzerland ($71.71) Norway ($63.29) United States ($63.29) Denmark ($60.56) Netherlands ($59.33) Austria ($55.65) Iceland ($55.21) Sweden ($54.91)
Sales Industry Productivity Stats
Salespeople spend 33% of their time speaking with customers and 21% of their time emailing.
Unproductive leads eat up as much as half of a salesperson’s time.
Almost half of all sales organizations do not have any reliable methods for assessing their employees’ performance.
A 7.7 percent increase in retail trade labor productivity is expected in 2020, according to the Bureau of Labor Statistics.
Wholesale trade saw a 3.6 percent increase.
For the first time since 1987, retail trade saw its highest annual productivity growth in 2020.
Construction Industry Productivity Stats
In 2019, new construction in the United States generated nearly $2 trillion, but in 2020, it will only generate $1.36 trillion.
Global construction costs are expected to rise by 4.3% as a result of labor and material shortages.
It is estimated that 9 out of every 10 global infrastructure projects are either over budget or delayed.
Only 65% of the time are construction workers actively productive.
About 35% of the time is devoted to gathering project data, making corrections, or resolving conflicts.
Agriculture Industry Productivity Stats
In 2018, the United States exported agricultural products worth $139.6 billion.
Farming contributes about one percent of the United States’ gross domestic product.
In order to keep up with population growth, farmers will need a 70% increase in food production by 2050.
Manufacturing Industry Productivity Stats
About 10.8% of the total GDP of the United States will be accounted for by the manufacturing sector in 2020.
Between January 2019 and April 2020, manufacturing jobs fell by 12.4%. U.S. and Chinese manufacturing industries are the world’s two largest.
Unit labor costs in manufacturing rose by 2.9% in the third quarter of 2021.
Between 2010 and 2019, labor productivity growth in U.S. manufacturing fell for the first time since it was first measured in 1988.
Productivity Challenges Statistics
According to a University of North Carolina survey of 182 senior managers from a variety of industries, 71% thought meetings were a waste of time.
More than half of those polled said they were unable to finish their own work because of meetings.
Another issue limiting productivity is ineffective leadership.
Of those confronted with a bad boss, 48% said they intentionally reduced their work effort, and 63% said they wasted time at work to avoid their boss’s attention altogether.
It takes time and money to replace employees who leave the company.
Just on the Millennials, the U.S. spends $30.5 billion per year.
Toxic workplaces lead to a high rate of resignations.
Toxic workplace culture has 78 percent of employees saying they’re more likely to look for a new job.
Solutions to Productivity Challenges Statistics
As a result, job seekers are looking for companies with a positive work environment.
Indeed, 46 percent stated that company culture is a major factor in whether or not they accept a new position.
The most important influence on company culture is the effectiveness of the leadership team.
Profits per worker rise by 27% under the leadership of highly skilled individuals.
Other Interesting Productivity Statistics
After Being Distracted for 23 Minutes, You’re Ready to Get Back to Work Gamification is a strategy used by companies to boost employee morale and productivity by introducing game-like elements into the workplace.
89% of employees in an annual survey said that their jobs would be more productive if they had more game-like elements.
As a result of the adoption of AI in customer management activities, it is estimated that 121 billion U.S. dollars will be gained worldwide between 2017 and As a result of the adoption of AI in customer management activities, it is estimated that 121 billion U.S. dollars will be gained worldwide between 2017 and 2021.
Every year, American businesses lose $63 billion due to overworked workers, who are less productive than those who get enough sleep.
Total factor productivity (TFP) decreased in 76 percent of major industries in 2020, with the largest decreases in the arts, entertainment, and recreation industries, according to US Bureau of Labor Statistics data.
Productivity is essential for the success of any business. By understanding what productivity means and how to grow it in your workplace, you can set your company up for long-term success.
Creating a supportive work environment where employees feel valued and enjoy their work is one of the best ways to increase productivity. What have you done in your business to cultivate a productive atmosphere?
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