The impact of just a one per cent increase in productivity
For an average UK small or medium-sized business (one with a turnover of £1.3m) a one per cent productivity improvement sustained over five years would add £65,000 to its turnover.
That greater productivity – essentially doing more with the same or less – can have a big impact on what they can achieve.
What that looks like in hours (not) worked
Business with 10 employees
Get up to 201 hours extra per year
Business with 25 employees
Get up to 520 hours extra per year
Business with 50 employees
Get up to 1,040 hours extra per year