Ever wondered what truly fuels the productivity engine for Australian employees in 2024?
Our recent research report, The Workplace Engagement Index, delves deep into the intricacies of the modern workplace to identify the top five elements that make Aussies feel more productive at work.
Keep scrolling for our handy blog and infographic breaking down the top five productivity drivers in 2024.
Productivity driver 1: Fulfilling job responsibilities (41%)
It's no surprise that an engaging and interesting work scope tops the list of productivity drivers. However, our report reveals a concerning statistic – 37% of Aussie employees are concerned about their current work scope and responsibilities. This concern peaks at 50% for Baby Boomers and 46% for frontline workers. The challenge for employers is clear: ensuring that job responsibilities align with employees' skills and interests is key to unlocking their full potential.
Productivity driver 2: A strong and supportive manager (38%)
Effective people management is crucial for a team's success, and our research underscores this fact. Unfortunately, 22% of employees harbour concerns about their managers. Even more alarming is the revelation that 31% of employees feel supported only occasionally, while 15% rarely or never feel supported at all. Organisations need to prioritise management development and support programs to ensure that people managers are equipped to guide and inspire their teams effectively.
Productivity driver 3: Receiving recognition and rewards (33%)
Feeling appreciated and valued significantly influences an employee's motivation and productivity. Shockingly, one in four employees rarely feel appreciated or recognised, and 35% cite a lack of recognition as a key reason for contemplating leaving their current employer. Establishing a robust recognition and reward platform can not only boost morale but also contribute to talent retention and overall organisational success.
Productivity driver 4: Competitive compensation (26%)
While one might assume that salary would top the list, it lands at number four. This highlights the need for a holistic approach to the Employee Value Proposition (EVP). Competitive compensation remains crucial, but it should be complemented by other factors to create a well-rounded workplace experience that attracts and retains top talent.
Productivity driver 5: Seeing the contribution of their work (26%)
Understanding how individual actions contribute to the broader mission and goals of the organisation is a vital driver of productivity. This ties into the appreciation and recognition employees seek. For Baby Boomers, seeing the impact of their contributions at work ranks as the second highest productivity driver at 38%. Employers should focus on fostering a workplace culture that emphasises the significance of each employee's role in achieving organisational objectives.
Employee engagement is not just a buzzword; it directly impacts an organisation's bottom line. According to Gallup, disengaged employees cost global businesses a staggering $8.8 trillion in lost productivity.
To mitigate this, organisations need to prioritise these key productivity drivers to boost performance and enhance employee engagement. It's time to proactively invest in these drivers to foster a culture of productivity and engagement in 2024.
Click on our accompanying infographic below to save the stats and share with your team, or download the full report at rg.co/wei.
