Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Technology

IT issues cost companies £3.4 billion per year in lost productivity

billion - Global Banking | Finance
  • New research reveals that the average British worker spends over one working day a month fixing their own IT issues
  • 33% of UK workers said their workplace IT systems are hindering their productivity

Many UK Businesses are losing out both financially and on productivity levels due to their workplace IT systems, new research has revealed.

A survey of 1,137 UK workers in full or part-time employment, carried out by technology services provider Probrand.co.uk has revealed that companies are losing a shocking £3.4 billion every year due to IT issues.

The surveyed workers, who all use IT systems in their workplace, said they waste an average of 5% of their working day due to connection or technology related issues.

Losing 5% of a working day to tech issues equates to 21 minutes of lost productivity per day, 1.75 hours a week, or 7 hours (one working day) per month. This comes in at a cost of £3.4 billion* to UK employers annually.

The top five workplace IT issues reported by UK workers were: slow running equipment (34%), internet connectivity issues (27%), cyber breaches (19%), additional equipment such as printers and scanners not working (11%), and finally, outdated hardware (9%).

A shocking 27% of UK workers said that their workplace IT systems are hindering their productivity, with this number rising to 33% in larger companies with in-house IT departments.

Those surveyed who have an in-house IT department, said their colleagues within that department often appear to be under resourced when resolving technical issues, with problems taking an average of 6.2 hours to be resolved after being reported. Knowing that they will have to wait for assistance, many workers are attempting to resolve the IT issue themselves, but by doing so, are detracting themselves from their own work, and often making the problem worse.

Matt Royle, marketing director at Probrand comments: “A productive workforce is integral to the success of a business, as is ICT in enabling that. It’s clear from our findings that businesses are not helping themselves when it comes to resolving IT related issues.

“Naturally, issues arise from the IT itself as well as end user error.  Employee training can help here on basic use of IT systems, processes and company policies – particularly when it comes to cyber and data security.

“As the data shows, in-house IT departments are stretched more than ever and this is resulting in 6% less end user productivity than those without an internal IT team.  IT departments are expected to fix end user issues fast, maintain everyday systems and drive business growth by creating and delivering cutting edge technology strategies.

“With companies wasting an eye watering £3.4 billion in lost productivity each year, it’s clearly time for those with and without internal IT teams to take a new look at how to tackle end user issues.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post