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UK's shocking productivity crisis costing UK businesses £183k each year

A new report claims that 86 percent of Britain’s enterprise businesses are worried about raising their productivity with two-fifths (39 percent) calling their productivity ‘very concerning’.

The report by the Centre for Economics and Business Research (CEBR) and Concentra Analytics suggests there is a “spray and pray approach” to driving productivity caused by a lack of insight into the performance of people and where the problems really lie.

As official Government data shows that Britain is achieving growth of only a quarter the level seen a decade ago, the data also showed that four out of five (79 percent) enterprise businesses have made efforts to improve productivity despite low overall investment.

Of those investing in improving productivity, 31 percent have bought in new technology, with 29 percent reporting that their firm is investing in technology to accelerate automation of repetitive tasks. 39 percent are working to improve business processes and decision making, and 35 percent of companies are investing in new ways to improve employee wellbeing. However through the investment through technology, the downtime and security must be as important as the investment into the technology. This is where employee productivity due to IT is important to review prior to introducing new technologies into businesses to ensure time really is saved in the future.

In 2017 and 2018 Managed 24/7 ran in association with YouGov a study to understand the time and money IT is costing businesses around productivity. The statistics around employees show that the annual cost to the UK’s economy could be as high as £35 billion as the average UK private sector organisation is losing approximately £1,221.12 per employee, per year due to IT services. It’s no surprise that productivity is suffering! Not only has Managed 24/7’s study been able to put a price on the nation’s annual productivity crisis, it has also outlined some of the major IT issues which private sector employees are experiencing in the workplace.  This allows us collectively to know what to focus on, to improve the UK’s business productivity performance.

It is clear that the UK industry has a long way to go in terms of improving poorly managed and outdated IT business infrastructure and therefore improving employee productivity. The government has made boosting productivity a key target through the industrial strategy, which is meant to provide support for businesses through state funding and spending on infrastructure.

To receive the full YouGov Cost of IT report, click here.

Interested in bridging the productivity gap and moving forward into a more profitable future? Contact us here

About the Author

Managed 24/7 Marketing

Managed 24/7 is an award winning, UK based IT managed services provider, which delivers a seamless 24x7x365 extension to end users in key areas, including: IT managed services, network & application monitoring, consultancy & professional services and workforce productivity tools. Through its unique combination of monitoring technologies, business intelligence and analytics, Managed 24/7 focuses on delivering better workforce productivity for its clients by solving issues before they become employee affecting.

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