The most common cause of wasted time during the workday is inefficient processes and duplicated efforts, a new study shows.
This wasted time can severely affect customer satisfaction and employee retention and, according to the study, it’s the companies without tech-driven productivity strategies which are suffering the most.
The Powering Productivity research surveyed 515 business leaders and key decision makers, from senior management to CEOs, across the US, UK, Netherlands, Germany and the Nordics, and was commissioned by Planview and conducted by research company Loudhouse.
The purpose was to explore the attitudes, challenges and opportunities businesses face when improving productivity, investing in technology and minimizing waste.
Workplace inefficiency is a core management issue, the study suggests. The primary cause of wasted time during the workday is inefficient processes (44 per cent), followed by an overload of paperwork (43 per cent) and meetings (41 per cent).
Other day-to-day barriers that contribute to wasted time are poor communication and time spent travelling.
Business inefficiencies are more than a nuisance for management. The study shows that employees (57 per cent) and customers (48 per cent) are the most likely to suffer as a result of inefficiencies. The burden of inefficiency placed on employees and customers could lead to retention problems in the long term.
Technology is key to maximizing organizational performance. Almost all business leaders (96 per cent) believe technology helps drive organizational efficiency. Having the right tools in place gives companies the confidence to achieve their productivity goals.
That confidence is linked to the use of technology. According to the research, 53 per cent of those who regard their efficiency programs as ‘tech-driven’ are more likely to be ‘very confident’ of success than those who regard themselves as ‘tech-hesitant’ (14 per cent).
You can find the full Powering Productivity research report here.