Take the time now to consider how much money your organisation loses every year due to unengaged staff members and unproductive employees.
According to the latest Ernst & Young Australian Productivity Pulse, Australia is currently sacrificing around $305 billion in unrealised productivity per annum.
That is a significant amount of revenue being lost simply because many employers simply aren't switched on to the needs and wants of their employees.
Ernst & Young found that the number one factor which employees believe would benefit their productivity is working in a culture that values staff and places sufficient emphasis on their wellbeing.
Therefore it might be time for your organisation to look inward, in order to determine what it could be doing to foster a better working environment for all team members.
The best way to do this is with employee surveys which can offer valuable insight into the attitudes and opinions of your employees towards their job.
Armed with the information garnered from these surveys, your organisation can do what is required to boost team productivity and ensure that staff are satisfied and content with their roles.
The Ernst & Young report states that another major factor which organisations can do to boost productivity is ensuring that the best employees are attracted to the organisation, and that these employees are kept for the long run.
So the value of employee surveys and team satisfaction questionnaires simply cannot be overstated.
Ernst & Young Oceania advisory leader Neil Plumridge says that there is an urgent need for Australian organisations to "bring forward our potential".
"The world is changing, our competitors are getting more aggressive and productive, and we’re facing some huge challenges in terms of our demographics and production costs so there’s an imperative for faster and higher levels of productivity," said Mr Plumridge in a statement released May 6.
"[T]he answer lies in having the right culture, the right people in the right jobs, and the right systems," he explained.