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 EY 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