It has always been said â€œyour employeeâ€™s are your number one assetâ€. Without them, you are left to do all the work.
Ernst & Young have just released the findings of a survey into worker productivity.
In brief the survey found:
- 1 in 3 workers plan to leave their employer because they feel under-appreciated & have no career path
Of the participating workers:
- 38% believed their skills were under utilised
- 38% believed their organisation operated inefficiently
- 44% thought their organisation was not innovative
- 39% believed they did not have access to the right technology
- 42% thought they did not have adequate training to apply the technology efficiently
Of the average working day:
- 58% is productive in generating real value
- 24% is used for networking and professional development
- 18% is wasted.
So what could this mean for your business? Well if you are the type of employer who can read your employeeâ€™s minds â€“ nothing. You already knew. For those who donâ€™t have esp, it means there may be some disruptive periods ahead, and yes on top of the current economy. At 3D Accounting we believe there is a light at the end of the tunnel and in times like this we need to work out the best way to whether the storm.
Our solutions can include one or more of the following:
- Evaluating your employeeâ€™s contribution to your business, and not just on what they bill / produce. By having employeeâ€™s you can delegate work you would otherwise have to do, they allow you to free up time for higher level work or that odd family day. How do you value this?
- Opportunity cost analysis. What would be the costs if your employee left, how long would it be before a replacement was found and how long would the replacement take to become fully productive?
- Anonymous employee feedback. Do you know what your employeeâ€™s are really concerned about & are they willing to openly express their concerns / ideas?
Full link to report and news article available atÂ https://finance.ninemsn.com.au/newsbusiness/aap/8361159/one-in-three-aust…