The No. 1 challenge Fortune 500 execs say they're facing with employees right now, according to new research

Executives are extra involved about worker productiveness than about getting them again to the workplace, according to new research from Atlassian. 

In September, the Australian software program firm requested 100 Fortune 500 and 100 Fortune 1000 executives what their largest organizational challenge is, and practically half (43%) mentioned low productiveness. 

Only a 3rd of executives with an in-office mandate mentioned they thought their in-office insurance policies have had any impression on productiveness. Instead, 76% of the Fortune 500 executives surveyed mentioned they’re extra fearful about how their groups are working than the place they work.

It’s not the primary time executives have mentioned they’re fearful that staff are getting much less carried out — and proof suggests their fears aren’t unfounded.

At the beginning of the Covid-19 pandemic, productiveness soared to ranges not seen in a long time.

But that surge was short-lived. In the primary half of 2022, productiveness plunged by the sharpest charge on document going again to 1947 and remained low till this previous summer time, when staff’ productiveness grew 5.2%, the quickest tempo of progress since 2020, according to the Bureau of Labor Statistics

Although productiveness is bettering, bosses are nonetheless struggling to belief that their employees are working with out fixed in-office supervision, Atlassian’s co-founder and co-CEO Scott Farquhar tells CNBC Make It

“People are nonetheless making an attempt to adapt to distant work and managers, specifically, are nonetheless wrestling with that lack of management, of getting somebody sitting right there in entrance of them,” he provides.

What’s driving the decline in worker productiveness 

It’s arduous to assign blame for lowered output and morale. 

Some CEOs have pointed fingers at distant work, arguing that clocking in from dwelling has made it simpler for employees to prolong much less effort, however research has failed to draw definitive conclusions about distant staff’ productiveness. 

In 2022, Microsoft coined the time period “productivity paranoia” to describe managers’ anxieties about whether or not distant and hybrid employees are working arduous sufficient as a result of they cannot see how individuals are working by strolling down the corridor or stopping by their desks.

In the Atlassian report, executives revealed a number of main challenges in distant work, with decreased organizational loyalty and difficulties in coordinating duties successfully being chief amongst them.

Economists and human useful resource leaders have attributed the decline in productiveness to every part from sluggish financial exercise to greater job turnover. Gallup reports that worker disengagement prices the world $8.8 trillion in misplaced productiveness, equal to 9% of worldwide GDP.

Plus, staff are historically stressed and unhappy at their jobs, main to extra burnout. 

Solving the productiveness paradox 

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