Thursday, 24 November 2011

Inefficient management cost businesses Billions each year

75% of your workforce could be wasting 2 hours of work per week due to inefficient management.

As reported by our parent company Mitrefinch, a new survey done by the Chartered Management Institute (CIM) revealed that Billions in business revenue are being lost each year due to inefficient management.

Some practices deemed most responsible for lost work hours were:

1) Lack of direction (25%)
2) Micro-Management (26%)
3) Lack of Support (33%)
4) Unclear Communication (33%)

The research also showed that:

- 13% of those surveyed have witnessed managers exhibiting discriminatory behavior towards employees based on gender, race, age or sexual orientation
- 27% have witnessed managers bullying or harassing their employees

These statistics have a direct impact on reasons why an employee may be absent more than others. As a business owner it is vital to know reasons for absenteeism in your workforce.

A complete necessity for any business is a Time & Attendance System that would allow employers to record and monitor patterns of absenteeism. This is a vital tool in tracking and controlling Absence Management. Having a Time & Attendance System which creates employee/absenteeism profiles greatly increases a business’ ability to control Absence Management.

Knowing how often and why your employees are absent is the difference between lost revenue or an increase in overall business profits.

Source: http://www.mitrefinchblog.co.uk

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