Wasted time or lost productivity is a primary concern for organizations. According to a research report published by Unit4, workers spend approximately 552 hours a year on repetitive and administrative tasks. And this loss of productivity is costing over $5 trillion annually to the global service industry. So, what is wasted time? It refers to performing any task that is not related to the project or contributes to operational efficiency. Cited distractions at work include socializing with co-workers, web surfing, applying for other jobs, or spacing out – highlights The Muse. Mundane administrative tasks or doing the same work repeatedly also contribute to wasted hours. In fact, wasted hours are the key contributors to productivity loss in an organization.
READ MOREOne such strategy that has gained prominence is the implementation of a Global Business Services (GBS) model. This approach centralizes various support functions across a company, fostering streamlined operations and improved service delivery for internal employees and external customers.
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READ MOREBusinesses need to manage their assets and utilize appropriate systems to run their companies. Read the following article for best tips for system and asset management.
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