# Productivity Statistics, Facts and Figures You Should Be Aware Of In The 2023

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In this post, we discuss Productivity Statistics 2023

When it concerns establishing a successful company or organization, understanding productivity is critical. You may increase the effectiveness of your staff or firm by measuring and assessing productivity.

Whether you’re assessing efficiency in terms of income, tasks, or labor, the data can assist you to make more informed business decisions. Refer to the following productivity data and facts if you want to improve your performance this year.

## Crucial Data on Productivity

What is productivity, and how is it defined and evaluated?

1. A common formula known as a productivity ratio is used to calculate productivity: Productivity = output/input
2. Productivity is measured in terms of a ratio of GDP to hours worked in the economy. The yearly percent change in the GDP is used to calculate economic growth.
3. The yield (of products or services) each hour is referred to as labor productivity. There are two methods for calculating labor input. It is typically the workforce or the duration of work during a period of time.

## Statistics on Workplace Productivity

Workplace productivity is defined as the amount of “work” completed in a given time period, and it can be assessed in terms of yield per work hour or it’s per worker.

Technology, employee involvement, and communication can all have a significant impact on workplace productivity.

### Statistics on Productivity and Communication

• According to a survey of 400 companies in the United Kingdom and the United States with over 100,000 employees, miscommunication and communication obstacles cost the economy \$62.4 million each year.
• According to 86 percent of CEOs, the most important cause of productivity concerns is inadequate communication.
• A typical interaction worker (salespeople, professors, skilled professionals, managers, and so on) spends 28 percent of their time handling emails and 20 percent of their time seeking internal data or seeking assistance from a coworker.
• According to the McKinsey Global Institute, fully exploiting social technology for communication might enhance interaction workers’ average productivity by 20 to 25%.
• Internal utilization of social media for interaction within a firm could save up to 35% of the time spent looking for company information.

### Data on Productivity and Technology

• Schneider Electric carried out a poll of 125 Swedish firms in 2019 and found that more than half of those polled expected staff productivity to rise as a result of using a smart workplace.
• According to a PricewaterhouseCoopers poll, 49% of respondents said wearable technology would boost office efficiency.
• Video conferencing could save up to 30 percent on travel expenditures, and 94 percent of firms who use it on a regular basis report that it boosts productivity.

### Data on Employee and Productivity Engagement

• According to a Gallup survey, teams with high levels of employee engagement are 21 percent more profitable than those who aren’t.
• Businesses with highly engaged personnel enjoy a 20% rise in sales and a 10% improvement in customer satisfaction ratings.
• A 17 percent improvement in overall production is attributed to engaged personnel.
• In a 2008 survey of Fortune 100 organizations, it was discovered that disengaged staff made a thousand percent more errors than engaged ones. As per aΒ  survey by The Engagement Institute, businesses in the United States waste up to 550 billion dollars each year due to disengaged employees.

### Productivity and Workplace Trends, as well as Data on Remote Work

• The COVID-19 epidemic transformed the way the world conducted business and also how individuals saw their work forever. In 2020, 73 percent of the U.S. employees indicated they were actively looking for or tracking new job prospects, up from 51 percent in 2017. Because of the high turnover rates, this tendency could have a substantial influence on productivity.
• Virtual meeting fatigue is becoming more common in the workplace, as is the utilization of virtual meetings. In research done by Virtira Consulting, 49 percent of remote employees said they were exhausted after attending many virtual meetings each day. According to the report, up to 80% of organizations intend to go completely remote or use a hybrid model.
• According to a global poll of CIOs, only 16 percent of organizations offered remote work before the COVID-19, as of March 2021, 70 percent of those businesses were using remote work. In the same poll, 31 percent of respondents predicted that working remotely would become the norm in the future.

## Stats on Work From Home & Productivity

Employees are increasingly interested in jobs that allow them to work from home. Is it, however, prudent for businesses to “go remote”? What is the impact of working from home on productivity?

• In a global poll, 57 percent of remote employees said they were more efficient when they worked from home, while only 17 percent said they were less efficient when they worked in the office before the COVID-19 outbreak.
• Working from home was rated a success by 71 percent of the staff and 83 percent of employers in a 2020 survey.
• According to a 2018 workplace poll, 64 percent of corporate leaders believe that providing flexible work options boosts productivity. The top 2 benefits of working remotely in 2020 and 2021 were a flexible timeline and the ability to operate from any location.

### Data on Work-Life Balance & Productivity

Does performing more work increase employee productivity? Certainly not. Personal productivity is influenced by work-life balance.

• Overwhelming work diminishes productivity by 68 percent.
• Three of the top ten most efficient countries are Scandinavian, where the typical employee works fewer than 40 hours per week, leading to improved work-life balance.
• Employers who promote work-life balance see a twofold increase in productivity.

## Facts and figures on Employee Productivity

Employees are the backbone of any business.

What factors determine work efficiency, and how can a typical employee increase their job productivity?

### Metrics on Employee Productivity in General

• As per a poll of over 2,000 office employees in the United Kingdom, the typical professional was productive for 2 hrs and 53 mins per day.
• For the top 10 percent of most productive employees, the typical working time before a break is around 52 minutes.

### Metrics on factors affecting Low Employee Productivity

• Multitasking is a key barrier that costs the global economy \$450 billion per year in lost productivity.
• Another important issue is workplace stress. On any given day, 1 million workers are projected to be absent from work owing to work-related stress. Businesses pay about \$602 per employee per year as a result of this. Workers who arrive at work stressed, on the other hand, do not perform at their best. According to the International Foundation of Employee Benefit Plans, these workers are responsible for \$150 billion in annual productivity losses.
• As per a YouGov poll of 1,150 persons in the United States, 30 percent believed that they might be more productive at work if they didn’t have accessibility to their cell phones. In the very same survey, 42 percent of respondents agreed that they spend too long on their smartphones.
• The most common obstacle impeding productivity ever since the COVID-19 outbreak, according to a survey of nearly 2,000 employees worldwide, has been difficulties concentrating, which has affected 28.3 percent of those polled.

### Data on Factors that Improve Employee Productivity

• Although recognition increases productivity by 14 percent, just 20 percent of employees feel appreciated at work.
• A corporate wellness program can boost productivity. According to 61 percent of workers polled, the health benefits gained from a business wellness program enhanced not only their output but also their overall job happiness.
• The productivity of call center staff who were requested to work at home for nine months increased by 13 percent, according to Harvard research. The ability to work from home increased not only productivity but also happiness and performance. Workers took fewer breaks, took fewer sick days, became more timely, and improved work minutes by 9 percent, resulting in greater bonuses for many workers and an overall better employee experience. Workers that are happy are more productive.
• Employee happiness boosts productivity by 12 percent.

### Productivity by Nations

Here are the top productive nations.Β  As per the Organization for Economic Co-operation and Development, the top 10 OECD nations by GDP per capita in USD from 2020 are listed below (OECD).Β

• Luxembourg (\$118.73)
• Ireland (\$95.51)
• Switzerland (\$71.71)
• Norway (\$63.29)Β
• United States of America (\$63.29)
• Denmark (\$60.56)Β
• Netherlands (\$59.33)Β
• Austria (\$55.65)Β
• Iceland (\$55.21)Β
• Sweden (\$54.91)Β

## Data on Productivity by Industry

When it concerns productivity growth, each industry has its unique set of obstacles to overcome. Take a look at the statistics for your industry.

### Statistics on Productivity in the Sales Industry

• Salespeople spend 33 percent of their time talking to prospects and 21 percent of their time connecting via email.
• Unproductive leads might consume up to 50% of a salesperson’s time.
• Nearly 50% of sales firms lack appropriate productivity measurement tools.
• Labor productivity in retail commerce increased by 7.7% in 2020, according to the US Bureau of Labor Statistics. In wholesale commerce, it climbed by 3.6 percent.
• In addition, the year 2020 saw retail trade productivity grow at its fastest rate since 1987 when it was originally assessed.

### Statistics on the Construction Industry’s Productivity

• In 2019, new buildings in the U.S. generated about \$2 trillion, but by 2020, it had plummeted to \$1.36 trillion.
• Global construction expenses are expected to rise by 4.3 percent due to labor scarcity and rising material costs.
• Nine out of ten global infrastructure projects are either over budget or behind schedule. Construction employees are only actively productive for 65 percent of their time.
• The remaining 35 percent of the time is spent obtaining project information, correcting errors, or resolving conflicts.

### Statistics on the Productivity of the Agriculture Industry

• In 2018, the U.S. exported \$139.6 billion in agricultural products.
• Agriculture accounts for about 1% of the gross domestic output in the United States.
• To keep up with population growth, farmers will have to produce 70 percent more food by 2050.

### Data on Productivity in the Manufacturing Industry

• Manufacturing accounted for roughly 10.8 percent of total GDP in the United States in 2020. Between January 2019 and April 2020, employment in manufacturing fell by 12.4 percent.
• The United States and China have the world’s two largest manufacturing industries.
• Manufacturing unit labor costs grew by 2.9 percent in the Q3 of 2021.
• Between 2010 and 2019, worker productivity growth in US manufacturing declined for the 1st time since 1988, when it was originally tracked.

## Statistics Face Productivity Challenges

Employees may be responsible for completing tasks, but businesses must also be held accountable. What are a few of the most serious problems that a company encounters when it concerns employee productivity?

• According to a survey of 182 senior managers from a variety of businesses done by the University of North Carolina, 71 percent of respondents said meetings were a waste of time. Meetings also prevented 65 percent of respondents from doing their own work.
• Another factor that affects productivity is poor management. When confronted with a terrible employer, 48 percent of employees claimed to lower their job effort on purpose, and 63 percent acknowledged squandering time at the job to avoid their supervisor.Β
• Staff turnover is a major productivity drain that costs both money and time. Millennial turnover costs the United States \$30.5 billion every year.
• High turnover is exacerbated by a bad environment. When confronted with poisonous workplace culture, 78 percent of employees said they are more inclined to look for another job.

### Statistics on Productivity Challenges and Solutions

Companies that want to boost productivity must start from the ground up. Focusing on high-quality leadership and cultivating a healthy workplace culture will attract the happy, engaged employees required for maximum productivity.

• Employers with a favorable work environment are sought by job seekers. In fact, 46% of respondents claimed that corporate culture is a key determinant in whether or not they consider a job offer.
• When it comes to organizational culture, team leadership is the most important component. Highly trained management generates a 27percent rise in earnings per employee.

## Other Productivity Facts To Consider

When calculating labor productivity, a variety of criteria are taken into account. Here are some more fascinating facts and figures to consider.

• It requires 23 minutes to get back on track after being distracted at work.
• Businesses use gamification to encourage employees and positively impact employee performance and productivity by adding game-like dynamics into the work environment. In a 2019 survey, 89 percent of employees said their workplaces would be more efficient if they included more game-like aspects.
• It is anticipated that between 2017 to 2021, higher productivity as a consequence of the use of AI Technology in client management activities will generate a sum of 121 billion US dollars.
• Employees who are fatigued are less effective than those that are well-rested, costing American businesses \$63 billion each year.
• As per the United States Bureau of Labor Statistics, multifactor productivity (formerly known as total factor productivity) fell in 76 percent of major industries in 2020, with the arts, leisure, and recreation industries seeing the biggest drops.

## FAQs On Productivity Statistics

### What is a reasonable or acceptable pace of productivity?

It's difficult to define what constitutes an excellent or even acceptable productivity rate. Experts, on the other hand, recommend instituting a 70 percent rule to boost productivity. When a worker works at maximum capacity all of the time, he/she carries the risk of wearing out. The 70 percent rule promotes working productively but less intensely for the majority of the time. This gives the individual some mental flexibility to reply to any unexpected short-term needs. Using mini-breaks throughout the workday, conserving unplanned work hours, and having periodic vacations are all part of the 70 percent guideline.

### How much of your workday is productive?

If the typical worker is effective for 2 hrs & 53 mins each day, this equates to around 36% of the workday. On the other side, freelancers are productive for roughly 87.5 percent of the workday.

### What percentage of employees believe that stress has a negative impact on their productivity?

For 41% of workers, A. Stress has a detrimental impact on their productivity. Furthermore, 33% believe stress makes them less engaged at work.