U.S. Companies: World’s MostEfficient (NAPSA)—We’re number one: U.S. companies are the mosteffi- cient in the world, recent studies prove, and cost-conscious managers plan to do even more to improve productivity, experts say. The third annual global productivity study on lost time observed the managerial practices and operating systems used by over 1,440 CEOs, managers and workers of major global companies from seven different countries— Australia, France, Germany, Spain, South Africa, U.K. and the U.S. The study, conducted by Proudfoot Consulting, a subsidiary of Management Consulting Group, PLC, found that U.S. companies are the most productive in the world along with Germany, working at an average rate of 63 percent of productivity. This level of productivity is directly tied to U.S. companies wasting 83 workdays, equivalent to over $1 trillion a year. Conversely, South Africa had the lowest productivity level at 59 percent and lost 92 work days a year. The study detailed six key factors that cause low productivity levels: insufficient planning and control; inadequate supervision; poor working morale; inappropri- ately qualified workforce; IT related problems; and ineffective communication. Of these, insufficient planning and control was the largest single cause for timelost among the countries in the study, averaging 41 percent, and nearly Total Workdays Lost Per Year 2003 US. Germany Australia UK | | | S. Africa | | 60 865 70 75 80 8 690 95 U.S. companies waste 83 workdays a year. 30 workdays wasted in the U.S. “An organization’s ability to handle the day-to-day requirements of its customers, people and vendors has a greater impact on thebottom line than the‘big’ problems, yet management’s attention is often on thelatter,” says Luiz Car- valho, CEO, Proudfoot Consulting. The study measured productivity among 14 industries. Those with the highest levels of global competition—telecommunications and automotive—produced the highest levels of productivity, averaging 79 percent efficiency. Those with less competition or additional government regulation—banking and health care— produced the lowest levels of productivity, averaging 58 percent efficiency. For more information, visit www. proudfootconsulting.com.
