The latest BDO Business Trends Report has revealed that employers are expecting to increase their workforce this year but are struggling to improve overall productivity.
The report, which covers over 4,000 different respondents from companies employing approximately five million employee, has revealed that company’s hiring intentions are now “sky high” and stronger than the economic boom of the 2000s.
Despite growing optimism and confidence in the economy, productivity remains a critical problem.
Britain’s workers were less productive in the final quarter of 2014, with output per worker continuing to fall. The report highlights that there has now been a lack of productivity growth for seven years now.
BDO partner, Peter Hemington, said: “Productivity ultimately determines our prosperity, so it is a crucial area that must be addressed. Policy makers of all persuasions must take on this productivity puzzle.”
Addressing the productivity puzzle
To help boost workforce productivity organisations need to consider how they can make effective use of their business applications, such as workforce management, to engage with their employees and learn about their behaviour in the workplace.
So how can workforce management improve productivity?
- By automating and streamlining manual administration tasks, organisations can remove errors typically associated with manual timesheets. By having instant visibility of workforce data, managers can make better informed business decisions can align the business to corporate goals and control their labour costs.
- Auditable attendance data allows organisations to control the rate of employee absenteeism so they can cover unauthorised absences and take remedial action before productivity levels are harmed.
- The latest web-based solutions enable employers to be increasingly flexible with how and where employees carry out their work. Allowing staff improve their work/life balance is proven to increase their productivity.
- Self-service functions empower workers to manage their own working time, view rosters and make holiday requests at the touch of a button. Making staff more accountable for their working time will help boost their productivity.
- By optimising staff schedules organisations can meet project deadlines and budgets, whilst reducing downtime. Integration with business functions such as Job Costing provides a valuable insight into the time spent of specific tasks within a project, so that managers can determine staff productivity for training purposes.