Unmasking profit killers: Demystifying hidden expenses for maximum revenue impact in 2024
How many hidden costs can you spot in the shadows?
Make Unmasking profit killers to build your business in 2024
Work is more complex than ever. Markets are more competitive. And because a handful of profit-killing, productivity-inhibiting costs lurk out of sight, hidden costs are harder to control.
Our latest guide, Unmasking Profit Killers: Demystifying Hidden Expenses for Maximum Revenue Impact in 2024, peers into the shadows of modern work to find the culprits undermining profits and productivity. You’ll find a step-by-step guide to identify, illuminate, and eliminate these costs using workforce analytics and management strategies.
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What’s in the Guide
6 hidden costs
We name and shame the hidden costs hurting profit margins, and give you tools to spot them in your business.
Data-backed insights
Learn how to identify the costs that could be hindering your company’s growth – then banish them for good.
Sustainable solutions
Let’s flip the script on cost-cutting. Learn how to reframe the cost-value equation using workforce analytics.
Leverage workforce analytics for measurable gains across the board
Do more valuable work
Employees spend 58% to 62% of their time on mundane tasks. Three in four people (76%) spend less than 3 hours weekly on strategic work. Time spent on ‘work about work’ is time not invested in strategic, value-adding tasks. Fostering a culture where every minute counts starts with using real-time workforce analytics to understand how people spend their time and where bottlenecks occur.
Make better decisions
Data-driven decision-making can boost profits by 8%, reduce costs by 10%, and make your organization 23x likelier to win customers and 6x likelier to retain them. And here’s the thing: your company already generates and stores a ton of data. When people have access to the reliable real-time data that workforce analytics provides, they make better decisions and do better work.
Collaborate to accelerate growth
It turns out that teamwork isn’t just better for morale. It’s also crucial for competitive success. In the last 3 years, 55% of collaborative companies made a profit compared to 28% of non-collaborative companies. ‘Collaborative’ employees also felt 4x better prepared for unforeseen challenges (79% vs. 20%). Workforce analytics helps to bring people together with transparent, equitable insights.
