THE HIDDEN COST OF LOST PRODUCTIVITY

Russell Dowling Russell Dowling

Russell Dowling

Results Driven Business Growth Specialist/ Business Coach/Business Mentor

发布日期: 2018年7月12日
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Many businesses struggling to make a reasonable profit are bleeding profits via the hidden cost of lost productivity or the cost of replacing staff. Let's assume you have an annual payroll of $1,500,000, including on-costs of  Work Cover and Superannuation. Let's also assume, as is often the case in small and medium sized businesses,  that the productivity of your staff, overall, is around 70%. Given productivity should be at least 85%, this means lost productivity is costing your business $1,150,000 * 15% = $225,000.

The answer lies in better management of staff and factors such as:

  • Professional and clear Position Descriptions
  • Motivating staff to perform at a higher level
  • Better staff training
  • Proper staff induction
  • Professional regular staff reviews
  • Key Performance Indicators and holding staff accountable accordingly

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