Do You Know Your Company's Biggest Hidden Cost?

Feb. 17, 2015

Read an article or invested in an app lately to help with time management? You'd be in good company. Trying to find more hours in the day is a national obsession, particularly at the beginning of a year when our thoughts turn to the great American quest to “get ahead of the curve.

”Improving our time management and productivity is not just a personal issue, but one that has a vast – and often unrecognized – impact on companies of all kinds.

In a six-year FranklinCovey study, 351,613 respondents from around the world indicated that about 40% of their time was spent on things that were not important to them or their companies. For a typical 500-person organization, the authors estimate, that means 832 hours per person are wasted annually at a cost of $20 million.

Read more on time management on IndustryWeek.

IndustryWeek is an NED companion site within Penton's Manufacturing & Supply Chain Group.