Improved work-based wellbeing could lift productivity by 5% over two years. The Pulse found a strong correlation between people productivity and wellbeing. In fact, people who score in the poor range for wellbeing lose 27% of their individual best productivity, while those in the moderate range lose 14%. Around a third of Australian workers score in the poor-to-moderate range, which shows a similar parallel to the productivity results.
While many businesses believe they have a focus on wellbeing, this is often limited to a few factors such as physical or mental health without a holistic understanding of the wellbeing risks facing particular groups within the workforce.
Greater focus required on innovation
The most productive industries, based on their workers’ average ranking on the Ernst & Young worker productivity scale were in order from most productive to least productive:
- More productive workers believe innovation is the strongest driverof productivity
- These people agreed with the statement: “Good ideas get implemented in my organisation”
- More than half the workforce believe productivity would improve if their organisation became more innovative
- Fifty-four percent believe their employer fails to focus on innovation
- Fifty-seven percent believe innovation is not recognised and rewarded
- Fifty-nine percent believe their organisation is unwilling to try new things