When running a business, it’s easy to get tied up in practices that end up harming productivity. While a few minutes lost on an activity may not seem like a lot, over time, this time can add up to frustration, hours lost and missed opportunities to bring in more revenue. A recent survey by Bonitasoft identified some of the most common culprits for corporate bottlenecking that are slowing down business and doing companies harm.
Confusion, poor communication top the list
One of the greatest frustrations American workers face today is a lack of strong communication, the study found. Around 58 percent of survey respondents said the main cause for corporate bottlenecking at their organizations was poor employee communication. Approximately 37 percent of respondents said unclear processes created issues at their organizations, while 25 percent said lack of information for decision-making was a top issue for their company.
The effects of bottlenecking are numerous. Nearly 60 percent of respondents reported lower morale as a result of inefficient processing, while 53 percent said they missed deadlines due to bottlenecking. Furthermore, around 42 percent of survey participants said corporate inefficiency resulted in angry customers and 36 percent said their companies lost money due to these issues.
When asked how their companies could attempt to fix this situation, nearly 47 percent of participants said investing in new technology was a strong option. Incentive compensation software is a technological solution that can tackle inefficiency, bringing companies to new organizational heights. Incentive compensation software can help companies improve communication by tracking spending, sales performance and client communications and allowing managers and employees to communicate and interact in an easy-to-use virtual interface.
