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January 18, 2012

Internal Communication Solutions to Drive Productivity

According to a new study, almost one fifth of our work week is spent “wasting time,” costing companies up to $320 million per day. The study by Ernst & Young─of 2,500 employees in the financial services, manufacturing, retail, and construction industries─found that 58 percent of employees’ time is spent on “real value” work and 24 percent is spent on networking and professional development. With 82 percent of our time being spent on productive and valuable tasks, what do we spend the remaining 18 percent of our time doing? 

Ernst & Young categorizes “wasted time” into three categories:

  • Internal administration, red tape and unnecessary meetings
  • Waiting for IT systems
  • Instances where jobs need to be redone 

Another important finding was that 62 percent of survey respondents believed their organization was operating efficiently, and 71 percent were motivated to do their job to the best of their ability. However, the other 33 percent of those surveyed were looking for new employment, citing their skills are not being utilized.

Reducing the number of “meaningless” tasks will likely increase the opportunities companies have to focus on critical initiatives, therefore creating more value for their organization. 

The changes made to eliminate unnecessary meetings, waiting for technical support, and dealings with internal administration needs to come from a cultural change within the business.

The Ernst & Young survey findings help reiterate the truth behind the common theory: companies with high levels of employee engagement will almost always have higher levels of overall performance. Employees that are engaged will reduce the amount of time spent on less value-added work, instead exerting more effort toward increased growth and production.

The importance of monitoring communication in all companies will work to help eliminate the likelihood of messages getting lost, preventing “wasted time.”

How can you eliminate wasted time in your organization? 

—David Grossman

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