Managers in Hong Kong waste 58 days a year managing under-performing employees, according to new research by assessment provider SHL.
By not matching the right people to the right job, companies are compromising the productivity of their experienced, well-paid managers, said the report. Senior executives claim this time could be more productively spent on value-adding tasks.
India comes a close second, followed by The Netherlands, while Sweden emerges as the top country, with managers spending the least amount of days per year on managing poor performers.
Kevin Kerrigan, managing director of SHL in the UK, said: “Due to a lack of investment in rigorous employee selection, organisations are failing to select the right candidates. The time managers are wasting on poor performers could be spent on more productive work, and collaborating with high performers to improve overall results.”
The report, Getting the edge in the new people economy, is the latest SHL research in an ongoing programme exploring the hidden costs of hiring, selecting and managing employees.