While I was browsing the internet looking for some economic data, I came across this 2016 report from the Pew Research Center: The State of American Jobs. And it is compelling! The Pew Research Center is “a nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping America and the world. They conduct public opinion polling, demographic research, content analysis and other data-driven social science research.”
This report is hefty at 95 pages, but it is totally readable. And full of great information about the state of the U.S. workforce. I couldn’t put it down. (Well, I couldn’t stop scrolling forward.)
There are five sections – and they’re all fascinating. If you have anything to do with people in your organization – hiring, managing, training, deploying – there will be nuggets here that will absolutely help you be more effective. The five sections are:
- Changes in the American workplace
- How Americas assess the jobs situation today and prospects for the future
- How Americans view their jobs
- Skills and training needed to compete in today’s economy
- The value of a college education
Each of these alone are fascinating topics and the data/analysis provided generate great food for thought and action. An opening overview section sets the stage for a fascinating discussion of how American workers are assessing their skills, their ability to be competitive in the economy and the role of the U.S. education infrastructure to ensure employability.
Here are two graphs from the overview section that ought to catch your eye. First:
Each of these graphs tells a profound story about workers, responsibility for employability, and the role of our education system in preparing workers for careers. And these are just in the overview. Wait until you see the nuggets in each of the following 5 chapters.
95 pages seem long – but it really isn’t. There are insights galore here that can help you in your talent attraction, development, retention and deployment policies and programs. And you don’t have to dig to get to the nuggets. They’re right there on the surface. Download it here, and browse through it first. Then go back and delve in to the chapters that really appeal to you. If you’re in any kind of people business – and who isn’t? – those nuggets will be valuable. Totally worth your time.
Filed under China Gorman, Data Point Tuesday, Employee Productivity, HR Data, HR Trends, Human Capital, Pew Research Center, Post-secondary education, Talent Analytics, Workforce Demographics, Workforce Planning
The Workforce Institute at Kronos has just published an eye-opening report on the cost of wasted time at work. The $687 Billion Question, discusses the impact of what Kronos labels engagement and what others might label productivity. The focus is on some surprising causes of low productivity in the workplace based on responses to research of conducted in 2016. It included 314 online surveys and detailed interviews with HR professionals (105), Operations/Line of Business managers (105) and employees (104) at companies with more than 600 employees in the Retail (21%), Healthcare (20%), Public Sector (20%), Manufacturing (19%), Service (16%), and Transportation and Logistics (4%) sectors.
The report shows in detail some unexpected — and wholly controllable — causes of low productivity and discusses the ramifications of just one hour of wasted time. And by wasted time, they don’t mean Snapchatting, staying current on Facebook, or making personal phone calls. They mean time wasted by inefficient processes and systems. Time wasted by dealing with office politics, with administrative tasks unrelated to the job, unnecessary complexity, and lack of appropriate skills – all contributing to low productivity at work.
The report provides data and analysis in five sections:
Stuck in the middle: People are torn between meeting customer needs and manager expectations
Small changes create big rewards: Why reducing one hour of wasted time can save billions of dollars
Why your greatest asset shouldn’t be a liability: Balancing the needs of people with the numbers
Bridging the engagement gap: Turning technology into an engagement tool and competitive advantage
Don’t dash for cash: Use communication, collaboration, and culture to keep employees engaged
Easily understood graphics abound and the discussion of the hard dollar losses to our organizations is compelling and important.
That’s $4,554 per year per employee. That’s the $687 Billion price tag.
So, if our employees spend additional time goofing off on social media, shopping online, or dealing with personal business while on the clock, the $687 billion cost just gets bigger and bigger. Not good. Definitely not good.
The $687B Question is a quick read and helps frame the cost of controllable kinds of unproductive employee time. This kind of lack or productivity is clearly able to be reduced. But first we have to be aware of it. What’s the cost in your organization?
*Note: I serve on the board of the Workforce Institute at Kronos