Investing in low value-add tasks guarantees that your company will leave lots of money on the table
Updated: Apr 5, 2020
Time is money. It's a finite resource: Every business professional has precisely 24 hours each day--and spends between eight and ten of them working. How you maximize those hours becomes the primary differentiator between success-- and extraordinary success.
Investing too much time in low value-add tasks guarantees that your company will leave lots of money on the table. Employees bogged down by repetitive tasks such as creating reports, data collection, and data entry inevitably dedicate less time to more strategic initiatives that grow your business.
Up to 40 percent of a typical employee's time is spent doing non-strategic work. The loss in productivity and revenue this represents is staggering: Workers spend at least 69 workdays a year completing repetitive tasks that could either be automated or outsourced. That adds up to nearly $5 trillion in lost productivity worldwide every single year.
With six out of ten startups going bankrupt within three years, knowing how to free up employees' time to focus on strategic, high-growth tasks are vital in carving out your unshakeable market advantage.