{"id":2496,"date":"2018-06-25T11:18:35","date_gmt":"2018-06-25T11:18:35","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=2496"},"modified":"2018-06-25T11:18:37","modified_gmt":"2018-06-25T11:18:37","slug":"poor-workplace-culture-is-costing-smes-thousands-of-pounds-study-suggests","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/poor-workplace-culture-is-costing-smes-thousands-of-pounds-study-suggests\/","title":{"rendered":"\u2018Poor workplace culture\u2019 is costing SMEs thousands of pounds, study suggests"},"content":{"rendered":"<p>UK small and medium-sized enterprises (SMEs) are losing thousands of pounds in potential output due to poor workplace culture, a new study suggests.<!--more--><\/p>\n<p>According to research from high street bank NatWest, 69 per cent of SME bosses and decision-makers understand that achieving good productivity is crucial in order for their business to maximise its profits and grow.<\/p>\n<p>However, it reveals that only a quarter (26 per cent) have taken active steps to improve workplace culture by introducing financial or non-financial rewards for good performance, such as bonuses, commissions or \u2018prizes\u2019.<\/p>\n<p>Meanwhile, less than a third (32 per cent) have implemented team-building exercises, buddy schemes or mentorship into their day-to-day workplace activities, despite separate research indicating that these can all greatly improve productivity.<\/p>\n<p>NatWest\u2019s research estimates that good investment in workplace culture can improve the output of each employee by an average of \u00a355,000 per year.<\/p>\n<p>It adds that investing in benefits packages can improve output-per-worker by \u00a340,500 while introducing rewards schemes can boost it by \u00a319,200.<\/p>\n<p>Alison Rose, of NatWest Commercial and Private Banking, said: \u201cFrom talking to thousands of our business customers every year, we know that many small to mid-sized businesses struggle to understand how best to improve productivity.<\/p>\n<p>\u201cIt\u2019s crucial that banks, Government and business leaders tackle this problem head-on and start putting measures to improve productivity into practice.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK small and medium-sized enterprises (SMEs) are losing thousands of pounds in potential output due to poor workplace culture, a new study suggests.<\/p>\n","protected":false},"author":2,"featured_media":2498,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,30,31,25,4,26],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2496"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=2496"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2496\/revisions"}],"predecessor-version":[{"id":2497,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2496\/revisions\/2497"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/2498"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=2496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=2496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=2496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}