American Fork-headquart-ered Domo, a cloud platform that provides solutions such as data integration and business intelligence for enterprise, has released a new report on worker productivity and strategic engagement, which found that access to company data and modern technology impacts workers’ ability to meaningfully contribute to business results.
The study, “Sleepworking: How Employee Disengagement Is Hurting Your Business,” found that many employees report feeling in the dark about key business objectives and insights. Thirty-one percent say they feel uninformed about their company’s overall strategy and nearly half (45 percent) say they wish they had more access to data to inform strategic ideas. Employees also do not feel properly armed to tackle today’s workload, The majority (62 percent) of workers say they could get more work done with better tech tools.
The study of more than 3,000 working adults shows that managers are unknowingly putting employees in a state of “sleepworking” — an inability to perform at their full potential due to a lack of technology and strategic data. Over half (58 percent) of workers say their need for technology has increased in the past five years, but their access to tech tools isn’t keeping up.
“In this economy, organizations of all sizes must optimize every aspect of their business. And while one of the biggest and most strategic investments a business makes is in its people, organizations are not unlocking the full potential of their workforce if employees are ‘sleepworking,’” said John Mellor, Domo CEO. “However, the results of this study show that with access to the right data and tools, every employee can be happier in their jobs, and become multipliers of business impact.”
Investing in organizational-wide technology access offers benefits that extend beyond empowerment for individual employees. It also reduces costs and workforce turnover, according to the study:
• A quarter (24 percent) of workers report high turnover in the past 12 months. That number skyrockets to 71 percent for those who say they work at companies that need more tech tools.
• Businesses across the U.S. alone could recoup $6.5 billion each week in valuable work time with the proper tech.
• The majority (62 percent) of workers say better access to useful tech would make them happier at work.
“Our survey found that 58 percent of employees across the globe say better access to technology can help weather an economic downturn,” Mellor added. “By offering employees access to data and modern technologies, an entire workforce can be enabled to do their best work and make the most impact for their business.”
The full report can be accessed at the Domo website.