Search Results for: productivity

AI may boost productivity, but we are already becoming reliant on it, and that’s a problem

AI may boost productivity, but we are already becoming reliant on it, and that’s a problem

by • AI, News, Technology, Workplace

A Stanford report says that as AI continues to develop, navigating its benefits and potential drawbacks will be crucial.Just ten years ago, AI systems couldn’t even classify images as well as humans. Now, they’re routinely outperforming people on a range of tasks, according to a new report from the Stanford Institute for Human-Centered Artificial Intelligence (HAI). The 2024 AI Index is the latest update to the annual analysis of trends in artificial intelligence. Led by a team of experts from academia and industry, it’s one of the most in-depth reports on the technology and its impact available. This year’s edition tracks research, development, technical performance, responsible practices, economics, policy, public opinion, and more. (more…)

Business leaders and employees are not on the same page when it comes to productivity

Business leaders and employees are not on the same page when it comes to productivity

by • News, Workplace

there are significant disconnects between how organisational leaders and their employees and managers view their ability to perform optimally to maximise productivityA new poll of 2,000 people suggests that while 90 percent of business leaders think their performance management process is a success, only 55 percent of employees agree with them. According to the State of Performance Enablement report from Betterworks, there are significant disconnects between how organisational leaders and their employees and managers view their ability to perform optimally and maximise productivity. (more…)

Productivity boost from volunteering ‘adds £4.6 billion to UK economy each year’ 

Productivity boost from volunteering ‘adds £4.6 billion to UK economy each year’ 

by • Business, News

Volunteering is delivering productivity gains worth billions to the UK economy each year, a new study claimsVolunteering is delivering productivity gains worth billions to the UK economy each year, a new study claims. The report by Pro Bono Economics (PBE), commissioned by national volunteering charity Royal Voluntary Service, estimates productivity gains worth at least £4.6 billion each year, or £4,551 per volunteer, arising from volunteering by those in professional and managerial occupations. The PBE report, titled?A pro bono bonus: The impact of volunteering on wages and productivity, stresses that these productivity gains would likely be even higher if the voluntary efforts of those in other job roles, as well as the benefits of volunteering to unemployed people, were taken into account. (more…)

If you want to increase productivity, let an algorithm decide the incentives

If you want to increase productivity, let an algorithm decide the incentives

by • News, Workplace

Targeting workers with different incentive schemes based on their individual characteristics leads to greater performance and increased productivity and is much more effective than a one size fits all approachTargeting workers with different incentive schemes based on their individual characteristics leads to greater performance and increased productivity and is much more effective than a one size fits all approach, according to new research from Frankfurt School of Finance & Management and published in the Management Science Journal. To study the impact of targeted incentive schemes on performance, Timo Vogelsang, Professor of Accounting at Frankfurt School of Finance & Management, alongside colleagues from University of Cologne, ran two large-scale experiments with more than 12,000 participants on Amazon MTurk. (more…)

New plans for public sector productivity ‘will deliver up to £1.8 billion worth of benefits by 2029’

New plans for public sector productivity ‘will deliver up to £1.8 billion worth of benefits by 2029’

by • News, Public Sector

The UK’s Chancellor of the Exchequer Jeremy Hunt has outlined plans to improve public sector productivity that the government claims will deliver up to £1.8 billion worth of benefits by 2029.The UK’s Chancellor of the Exchequer Jeremy Hunt has outlined plans to improve public sector productivity that the government claims will deliver up to £1.8 billion worth of benefits by 2029. The statement focuses on public sector productivity because the government says it is “an alternative to accepting an ever-increasing bill for public services as [it] sticks to its plan to move on from the high spending and high tax approach that was necessary to get the UK through the shocks of Covid and Russia’s invasion of Ukraine. A new focus is needed on the long-term decisions required to strengthen the economy and give people the opportunity to build a wealthier, more secure life for themselves and their family.” (more…)

Thoughts of hybrid working should now turn to productivity and trust

Thoughts of hybrid working should now turn to productivity and trust

by • Comment, Flexible working

The impact of hybrid working models on productivity and employee wellbeing, especially in light of last year's unprecedented spike in sick days, is an important issueBusinesses now face the huge challenge of managing office returns and addressing the underlying generational divides and mistrust that have surfaced as a result of the pandemic years. With the Office for National Statistics (ONS) having released new data on UK productivity levels that show productivity remains sluggish, the impact of hybrid working models on productivity and employee well-being, especially in light of last year’s unprecedented spike in sick days, is an important issue. (more…)

Middle managers are the secret sauce of productivity, say knowledge workers

Middle managers are the secret sauce of productivity, say knowledge workers

by • Business, News

Research from ClickUp claims to reveal the crucial role that middle managers play in driving productivity.Research from ClickUp claims to reveal the crucial role that middle managers play in driving productivity. The study found that 81 percent of knowledge workers who responded to the survey think that middle managers, defined as those below top level management and typically in charge of departments or groups, are the people most responsible for driving team productivity, with 68 percent rating the middle managers they work with as very or extremely effective. (more…)

Cost of living pressures hurting productivity and wellbeing

Cost of living pressures hurting productivity and wellbeing

by • News, Workplace

three quarters (74 percent) of HR leaders fear the cost of living crisis is affecting employee performanceNew research investigating how cost of living pressures are impacting the workforce has found that three quarters (74 percent) of HR leaders fear the cost of living crisis is affecting employee performance. In the survey of 500 UK HR Directors, carried out by Nous.co, a third (34 percent) of HR leaders said they’d noticed a drop in productivity due to employees having other things on their minds. Three quarters (74 percent) said financial pressures were directly affecting employee performance. (more…)

Age gaps between colleagues linked to lower productivity

Age gaps between colleagues linked to lower productivity

by • News

Employees who are much younger than their managers report lower productivity than those closer in age due to a lack of collaboration between employees of different generations, according to new research from the London School of Economics and Political Science (LSE) in collaboration with consulting firm, Protiviti.  An external survey conducted by LSE of 1,450 employees in the finance, technology and professional services industries in the UK and USA, found that friction between different generations was driving down productivity and that firms need to develop intergenerationally inclusive work practices. (more…)

Regional divides, falling incomes, booming jobs markets; and lower productivity. The current state of the UK

Regional divides, falling incomes, booming jobs markets; and lower productivity. The current state of the UK

by • Business, Cities, News

No part of the UK has escaped the impact of a flatlining economy and falling productivity since 2010, according to new analysisNo part of the UK has escaped the impact of the flatlining of the UK economy since 2010, according to new analysis published by the Centre for Cities in its Cities Outlook 2024 report. At the national level, people have been left with £10,200 less to spend or save on average since 2010 than if the economy had grown at pre-2010 trends. The report also suggests that a marked rise in employment has happened in parallel with overall falling productivity. (more…)

People have some very interesting views about their own productivity, and that of everybody else

People have some very interesting views about their own productivity, and that of everybody else

by • News, Workplace

Just as everybody thinks they are a better than average driver or more intelligent than average, a new survey from HR and payroll software provider Ciphr suggests that employees self-rate their own productivity far higher than they rate other people’s productivity levels.Just as everybody thinks they are a better than average driver or more intelligent than average, a new survey from HR and payroll software provider Ciphr suggests that employees self-rate their own productivity far higher than they rate other people’s productivity levels. They also think that people working in HR, marketing, and senior management roles are the least productive. According to the poll, UK employees perceive HR teams as being particularly unproductive, compared to other colleagues and departments in their organisations. (more…)

Flexible working is delivering the gift of seasonal productivity

Flexible working is delivering the gift of seasonal productivity

by • Comment, Flexible working, Technology

business leaders are still keen to maintain productivity with flexible working amidst the seasonal rush while allowing their team to enjoy the holiday periodEmployees have made it clear that they are keen for flexible working arrangements to stay. In fact, according to the Owl Labs 2023 State of Hybrid Work report, 40 percent of employees would decline a job if they were required to be in the office five days a week. With the festive season in full swing, employees will look to utilise the benefits of flexible working as they return home to their families. (more…)

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