Upskilling staff is a major factor in ensuring workforces remain productive, a new report has revealed.
A study by the Boston Consulting Group (BCG), a global business management adviser, found companies that focus on productivity can boost profit margins by seven per cent within a five-year period, AAP reports.
Frank Budde, co-author of the research, said: “If Australian firms are to deliver strong returns to their investors, they must take a closer look at how to better utilise their workforces.”
The news comes after a recent 2012 Manpower Employment Outlook Survey revealed demand for skilled workers in Queensland’s resources sector remains strong, with employers in the state showing confidence in their ability to take on more staff in the coming months.
BCG’s report highlighted a number of key ways to improve productivity, with employee restructuring and upskilling staff considered primary aims.
Other issues included fostering a friendly, supportive working environment and reducing management overheads.
“Workplaces where staff don’t co-operate often have poor productivity, low engagement and a culture of finger pointing,” the report stated.
BCG noted the importance of gaining greater clarity on what types of roles best suit the capabilities of staff and then ensuring these employees are working in the correct jobs.