According to new research undertaken by internal talent engine ProFinda, employees are wasting valuable work hours looking for support in their roles,
According to new research undertaken by internal talent engine ProFinda, employees are wasting valuable work hours looking for support in their roles, and many feel under utilised. as they are unable to identify internal expertise from within their own
This supports recent findings by the Government, released in the latest Autumn Statement, which shows the UK is falling far behind its other G7 counterparts including the US (+26% on the UK), France (+27% on the UK) and Germany (+32% on the UK) in terms of GDP output per hour worked.
ProFinda surveyed 4,000 employees across six B2B sectors and found the average employee is wasting 20 working days per year looking for the internal skills and resource to support them on projects and that 30% of employees surveyed feel under-utilised in their current position, suggesting a wealth of untapped potential within the global workforce to increase productivity.
This time wasted is contributing to the global productivity crisis which is particularly impacting the UK economy. A recent productivity survey, conducted by the Office of National Statistics, revealed that “if we (as a nation) raised our productivity by just 1% every year, within a decade we would add £250bn to the size of our economy or £9,000 for every household in Britain”.
Roger Gorman, Founder and CEO at ProFinda commented: The global economy, and in particular the UK, is suffering from a well-documented productivity crisis which is costing businesses of all sizes phenomenal amounts of time, money and resources each year. This survey has highlighted, for the first time, that it’s poor internal communication and zero awareness of a colleague’s experience, that is really the main productivity killer. So, by implementing solutions to better map out and connect internal skills, and making this data easily accessible, an organisation can at last see significant cost savings returns. By simply reconnecting lost knowledge, we will see a significant increase in effectiveness of team and workforce planning, and utilisation. Businesses can at last truly address the fiscal implications of these massive issues and begin to put a dent in that £250bn potential cash-injection available to the economy.”