November 1, 2016 · 9:55 am
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
Filed under China Gorman, Data Point Tuesday, Employee Engagement, Employee Productivity, Kronos, Workforce Institute
Tagged as China Gorman, Data Point Tuesday, Employee Engagement, Employee Productivity, Kronos, Workforce Institute
September 1, 2015 · 7:30 am
It used to be that being a “job hopper” was a bad thing. Employers wouldn’t touch someone who moved around a lot. And employees almost never wanted to go back to a former employer. They had good reasons for leaving. Today, however, most understand that boomerangs are a fact of life. But what if someone who left your organization in good standing applies for a job and wants to return today? Will you hold his/her decision to leave against them? Or will you think that their pathway to productivity will be shorter because they already know the culture and the ropes?
Those are among the questions that were asked in a recent survey by the Workforce Institute at Kronos Inc. and WorkplaceTrends.com. More than 1,800 HR professionals, people managers and employees were surveyed and the results show a shift in attitude regarding the desirability of rehiring former employees.
Some of the highlights from the survey results include:
- Organizations and workers alike are coming around on rehiring former employees.
- Boomerangs are creating increased – and unexpected – competition for job seekers as the hiring market continues to improve.
- Familiarity, easier training, and knowledge of the former employer are benefits for boomerangs and organizations – yet some concerns still linger.
- HR says it has a strategy for maintaining relationships with former employees, but workers and managers disagree.
The first three findings are pretty predictable, I think. But the fourth shows some interesting opportunities for HR to communicate more strategically to their important stakeholders.
The study showed that while organizations appear to more open to hiring boomerangs, 80% of employees report that former employers do not have a strategy in place to encourage them to return. Additionally, 64% believe that there doesn’t appear to be a strategy for maintaining a relationship once they depart. And, finally, nearly half of managers say their organization has no alumni relationship strategy.
Contrast these findings with HR’s report that they use multiple strategies for keeping in touch with former high-performing employees – like email newsletters (45%), recruiters (30%), and alumni groups (27%). A focus on cultivating alumni groups appear to be more common than managers or employees believe, with Facebook as the most favored social platform (42%). Email (39%) and LinkedIn (33%) are also frequently used alumni relationship platform hosts.
HR clearly has an opportunity to engage both the people managers and high performing employees in their organizations around the topic of keeping former employees tethered to the organization through alumni relationship building.
Joyce Maroney, Director of The Workforce Institute at Kronos believes this:
“With this boomerang trend on the rise, it’s more important than ever for organizations to create a culture that engages employees – even long after they’ve gone – and organizations should consider how the boomerang employee factor should affect their off-boarding and alumni communications strategies for top performers.”
Joyce is right. In the increasingly tough talent supply/demand landscape, employers can’t afford to overlook any part of the talent pool when seeking new employees. Boomerangs have a lot going for them and they should be kept top of mind by managers and talent acquisition professionals alike.
Filed under Boomerangs, China Gorman, Data Point Tuesday, Joyce Maroney, Kronos, Talent Acquisition, Workforce Institute
Tagged as Boomerangs, China Gorman, Data Point Tuesday, Joyce Maroney, Kronos, Talent Acquisition, Workforce Institute