Britons Could Begin Christmas Holidays On 11 December If It Wasn't For IT Issues

IT issues are such a key stumbling block to British business productivity that if it wasn't for them, most Britons could have wrapped up work two weeks before Christmas, a new survey has shown.

According to research carried by Censuswide on behalf of US software provider Citrex, some 89% of employees in Britain are left waiting to get work done every day due to problems with technology.

Among the 1,000 employees surveyed, 23% admitted spending between three to six hours in total each week waiting to get work done due to an IT issue. On average, office workers are left waiting for 2.03 hours each week – wasting the equivalent of 12.8 working days over the course of 2017, which means employees working in an IT issue-free environment would have reached the same yearly productivity level as the average office worker by 11 December.

The alarming findings suggest that 23% of workers surveyed believe IT issues are their biggest barrier to productivity at work, while 45% of the respondents have never had a week at work where they weren't slowed down by IT issues across their office set up.

The poll also revealed that IT issues keep 13% surveyed waiting more than half an hour each day to get work done, while 4% have to wait more than an hour every day to be able to complete work tasks.

"Improving the technology that underpins office processes means that teams can focus on the important things in life: being more productive at work, spending more time with friends and family and maybe even sleeping longer," said Michelle Senecal de Fonseca, Cetrix Area Vice President for Northern Europe.

"All businesses are competing fiercely for talent. Quite simply, it's those that have the easiest technology that will reap the benefits, attracting the best people to their company in the first place."

Britain's productivity is lagging so far that of some of their European counterparts that the average British worker has to work until Friday afternoon to produce what a German employee would produce in four days.

Workers in the US, meanwhile, would have to work an extra hour but would still produce more than the average Briton working on a Monday-Friday basis and the same applies to French workers.

Data released in July, showed the productivity of British workers fell back below pre-financial crisis levels, while in October the Office for Budget Responsibility said productivity grew just 0.2% a year for the past five years.

The OBR added any improvements would be marginal and that productivity will remain weak over the next five years, a development which could be extremely detrimental to public finances.

Last month, the Confederation of British Industry (CBI) said if British firms adopted the best tried-and-tested technologies instead of remaining stuck in old ways, it would add more than £100bn ($131bn) to the economy and reduce income inequality by 5%.

RECENT NEWS

How Hedge Funds Differ From Mutual Funds

In a world where successful investment plays a significant role in one's financial success, it becomes paramount to unde... Read more

Basics Of Hedge Funds And Their Strategies

In the realm of finance, hedge funds often make tantalizing headlines. With their high rewards and greater risks, they'r... Read more

The Role Of Hedge Funds In Financial Markets

Over the years, the prominence of hedge funds within the financial market landscape has grown exponentially. The role of... Read more

Revolutionizing Finance: A Deep Dive Into The Role Of Machine Learning In Hedge Fund Management

The financial landscape has undergone radical transformations over the years, shifting from traditional models of financ... Read more

Emerging Cybersecurity And Compliance Trends In The Hedge Fund Industry

The hedge fund industry, a central force in the global investment landscape, faces both the promise and peril of ever-ad... Read more

Understanding Key Compliance Challenges For Hedge Funds In The Post-Pandemic Era

As societies grapple with the aftermath of a globally destructive pandemic, exploring the intricate operations of hedge ... Read more