A new study has shown that Australian businesses are losing billions in dollars' worth of productivity – despite the fact that workers are putting in long hours.
The Sydney Morning Herald has reported today (October 17) on the results of Ernst & Young's survey of 2,500 workers and their managers.
Australians work 44 hours per week on average – one of the highest rates in the developed world – however unproductive practices are creating a $109 billion dent in companies' bottom line.
Ernst & Young researcher tells the SMH: "The problem is the productivity of our workforce. The hours are good and the intentions are good, but we found an incredible wastage once we all get to work."
Employee retention also remains a key issue for businesses – with 44 per cent of retail staff intending to leave their employer in the next year.
Issues of productivity and employee retention can often be successfully addressed by offering corporate health benefits.
By boosting the health and wellbeing of workers, companies may see greater levels of concentration, energy and less sick days.
Staff will also have an added incentive to stay with their employer for the long-term.