Work slump? It's not you, it's your boss, Society for Knowledge Economics study finds
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- AAP
- October 06, 2011 4:42PM
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The report found the quality of an organisation's leaders and their ability to innovate and create positive employee experiences directly related to financial performance and productivity. Picture: ThinkStock
COMPANIES with strong leadership and a positive workplace culture are significantly more productive and profitable than their less progressive peers, new research presented at the federal government's jobs forum shows.
An 18-month study by the Society for Knowledge Economics found that High Performing Workplaces have 12 per cent higher productivity than Low Performing Workplaces when ranked in terms of their innovation, employee engagement, fairness, leadership and customer satisfaction.
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"It is clear from this research the key to increasing productivity at the workplace level comes from investing in people rather than changing the industrial relations system," Jobs Minister Chris Evans said.
The report found that the quality of an organisation's leaders and their ability to innovate and create positive employee experiences was directly related to the organisation's financial performance and productivity.
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It also found that the average profit margin of High Performing Workplaces was three times higher than those of Low Performing Workplaces.
"The Gillard government's investment in workplace research shows we are committed to exploring every possible avenue to create better jobs, smarter workplaces and a more productive economy," Senator Evans said.
"This report provides clear evidence that improving Australia's productivity can be achieved by developing leadership and management capabilities in Australian workplaces."
The report involved 78 companies and more than 5000 employees.