Survey reveals how people spend time and attention in the Information Age … Wisdom Networks could more than double, triple or quadruple productivity
A very interesting report on by EY productivity on human time and attention. If my conclusions are correct, then the inefficiency of the Information Age is surprising and the potential impact of wisdom networks to improve productivity by restructuring human time and attention is exponential. I will obtain peer review and amend this post accordingly.
- Wisdom Networks could double, triple or quadruple productivity of every employee by restructuring human time and attention...
sources include reclaiming travel time, reclaiming identified wasted time, reclaiming unproductive work time and gamification
- Reclaiming half of travel time increases productivity by 10%
- Reclaiming acknowledged wasted time increases productivity a further 20%
- Restructuring 30%, 60%, 90% of unproductive work time lifts productivity by 100%, 200% and 300% respectively
- The EY Australian Productivity Pulse™ (the Pulse), the first survey of its kind, indicates that the estimated annual wastage in wages can be valued at about $109 billion.
- The Pulse measures the Australian workers’ sentiment around the biggest barriers hindering productivity, and the opportunities available to improve performance
- Fifty-eight per cent of the day is spent on work that directly adds “real value”
- Twenty-four per cent of the day is spent on networking, personal development and other organisational curricular activities that are important to both individual and business performance
- A whopping 18% of the day is spent on work that wastes time and effort
The report "EY Productivity Pulse: Wastage adds up despite motivated workers" can be downloaded from here.
- As Australia languishes in the productivity doldrums, the blame is being cast on everything from the Fair Work Act, to lack of investment in education and training, as well as new technologies.
- As Wave 2 of The EY Australian Productivity Pulse™ (the Pulse) reveals, much of the answer is in employers’ hands. A third of Australia’s workforce falls below national productivity average – costing business up to $41.3 billion every year.
- Australian workers spend more than half of their work days either at work or travelling to and from their workplace. Contrary to popular belief, the actual time spent at work has little impact on productivity given the similarity across groups, with our least productive people actually spending slightly longer at work than anyone else.
- On average, Australian workers spend 16% of their day on activities that waste their time and effort. The causes of that wasted time are surprisingly similar across all industries
- As part of the second six-monthly Pulse, a new EY worker productivity scale identifies Australian workers as belonging to one of four different groups from “highly productive” through to “unproductive”, with each group identifiable through a number of key characteristics.
- Super achievers - 23% of the Australian workforce (Productive ranking of 9 — 10): The “highly productive” group spends at least two-thirds of their time on meaningful work and wastes just 12% of their day compared to the national average of 16%. A third of this group takes no sick days at all in any given year.
- Solid contributors - 46% of the Australian workforce (Productivity ranking of 7 — 8): The “productive” group spends at least 64% of their time on meaningful work and wastes 15.7% of their day. Half of this group takes one to three weeks sick leave per year.
- Patchy participants - 24% of the Australian workforce (Productivity ranking of 5 — 6): The “less than productive” group spends 58.4% of their time on meaningful work and wastes 19.6% of their day. A third of this group takes between three weeks to three months sick leave per year.
- Lost souls - 7% of the Australian workforce (Productivity ranking of 1 — 4): The “unproductive” group spends only 50% of their time on meaningful work and wastes 27.4% of their day. This group is more likely to take extended periods of sick leave, and one fifth of this group takes between three months to a year of sick leave.
- Strong link between motivation and productivity: Money is not a prime motivator. Across all industries, the biggest motivators are “the work that I do”, followed by work/life balance. Salary and incentives came in third, followed by employment security and “the people I work with”.
- Improved work-based wellbeing could lift productivity by 5% over two years. The Pulse found a strong correlation between people productivity and wellbeing. In fact, people who score in the poor range for wellbeing lose 27% of their individual best productivity, while those in the moderate range lose 14%. Around a third of Australian workers score in the poor-to-moderate range, which shows a similar parallel to the productivity results.
The report "Ernst & Young Australia Productivity Pulse Wave 2 May 2012" can be downloaded from here .
Australia is a first world economy. It is likely to be representative of how human time and attention is spent in other economies.