Chief executive officers (CEOs) in the UK are pushing their employees to deliver significant increases in work productivity to match tough target, according to new research.
The Hay Group found that UK firms operating in serviced offices and other buildings were targeting an average five per cent growth for 2011, comparable to the latest International Monetary Fund (IMF) growth forecast of just 17 per cent.
Chief executives believe that this target can be achieved increasingly employee productivity by six per cent, which comes as a surprise to already over-stretched workers.
Matt Crosby, associate director at the global management consultancy, told HR magazine: “CEOs cannot achieve their targets without harnessing the collective power of their workforce.
“Yet this sort of productivity improvement is a big ask from employees who have worked hard to help their firms through three difficult years since the financial crisis. ”
The study also found that 83 per cent of executives agreed that performance management was an important driver of overall business performance, with 39 per cent saying it made a difference to the bottom line.
Edward N. Hay founded the Hay Group in 1943.