Bankwest Future of Business Report: Productivity
17 March 2015
Productivity most commonly means increasing efficiency and profit while reducing operating costs.
The large majority of mid-sized businesses in our survey are actively promoting a productivity culture by embracing processes that allow employees to suggest productivity improvements and reward them for doing so.
Many businesses are also looking to increase their investment in productivity initiatives over the next 12 months in order to drive business growth and gain an edge over competitors.
Whilst a number of barriers to driving productivity improvements are apparent, including a lack of time and cost constraints, businesses are seeking to overcome these barriers by reducing operating costs and embracing a productivity culture.
Productivity is and will continue to be an integral part of mid-sized businesses’ strategic focus.
We hope you find our report useful in identifying the productivity strategies that have and will continue to define the competitive landscape of mid-sized businesses in Australia.
- This report was prepared by CoreData on behalf of Bankwest
- The research was conducted between January 20th and February 3rd, 2015 via an online quantitative survey of approximately 50-60 questions, developed and hosted by CoreData
- CoreData’s proprietary panel of more than 132,000 Australian consumers was used to canvass the views of a specific target market – business leaders in the mid-market
- The sample comprised of 502 respondents, including those in C-suite and senior management positions within mid-size businesses
- Annual turnover of between $5 million and $250 million
- From the following industries: Education and training, retail trade, professional services, light manufacturing, wholesale trade, financial and insurance services, property and business services, franchising, pharmaceuticals, transport, health care and social assistance (NSW, VIC, QLD and SA only), not-for-profit (WA only) and agriculture and forestry (WA only)