Cost control breaks down to one singular element. Focus on the little things, as those are the things that can add up to large costs. This may be in the form of process and/or personnel. Let’s take a look at personnel. One daily hour of unproductive employee time across the company equals a huge loss. Sadly, one hour a day is below the norm (three is the norm) of what is being wasted.
Of course productive hours range from personality type to job type but on average if you read an article Eric Barker wrote for his Wired Magazine column the following stands:
- People work an average of 45 hours a week; (U.S.: 45 hours a week; 16 hours are considered unproductive)
- People spend 5.6 hours each week in meetings (U.S.: 5.5 hours; 71% feel meetings aren’t productive)
- Women had a higher average productivity score U.S.: women, 70%; men, 68%
Barker wrote in the U.S., workers attribute these unproductive hours to procrastination, 42%; lack of team communication, 39%; ineffective meetings, 34%.
The good news is, the dynamic is correctable.
3 thoughts on “Costs Control”
Some answers to addressing and improving the dynamic will be upcoming in the next week.
What we can do to improve it? I like your post!