Mitigating Employee Procrastination using Risk Management
Overview Research has shown that employees’ procrastination cost companies billions of dollars per year. Further, research has shown that on average, employees waste 1.5 hour per day procrastinating. So, let’s assume that your company has 100 employees, and each employee is wasting 1.5 hour per day (7.5 hours per week per employee), that is a total of 750 hours (7.5 x 100) of lost time per week. Assume that the average pay rate per employee is $18.00 per hour, so the company is incurring a loss of $13,500 per week, which translates to an annual loss of approximately $702,000. This loss addresses the loss resulting from lost time, where employee delays doing his/her work by doing something that is irrelevant to his/her work and to the company business such as checking his personal emails, facebook, twitter, chatting with friends, etc. The impact on the business in term of loss of...