bsncnty 1 - Running head: RISK OF LOSS OF PRODUCTIVITY IN...

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1 Running head: RISK OF LOSS OF PRODUCTIVITY IN WORKPLACE Risk of loss of productivity in workplaces Name Course Professor Date
2 Running head: RISK OF LOSS OF PRODUCTIVITY IN THE WORKPLACE Abstract In every organization there exist some unavoidable cost when running any business. However, these costs can be minimized by managing the factors that contribute to increased business cost and finding ways to prevent risks before they occur. This paper examines one of these factors which is loss of productivity in the workplace. The paper examines the risks of loss of productivity, what causes these risks and in what ways will the business be affected by them. This paper also present the various ways a business can manage the risks by providing ways on how the business can prepare for any incidents with regards to the risks. And because it’s impossible to manage anything that you can’t measure, ways in which productivity can be measured have been addressed. Finally, the paper addresses ways in which the business can improve its’ workplace productivity to achieve the business goals and ensure continuity of the business.
3 Running head: RISK OF LOSS OF PRODUCTIVITY IN THE WORKPLACE Introduction Most organizations place a high value on productivity emphasizing the need to sustain it to ensure continuity of the business. However, sustaining productivity require the organization to maintain a conducive working environment for its employees. Several factors may lead to a decline in productivity. These factors negatively impact workplace productivity in such a way that affected units exhibits reduced performance and an overall reduction in output. These risks which might lead to loss of productivity include but not limited to technological factors, poor relationships between managers and employees, poor performance management, outdated systems, personal problems, fear of failure, poor communication, organization safety and health issues, and procrastination. They are not associated with the employees alone, but also to the workplace environment and the management. Low productivity poses a serious problem within an organization which force an organization to adapt creative ways to deal with problems that result from the productivity loss. To mitigate these risks, the business need to have strong operation foundations as a way of ensuring manageable growth and continuity. Risks assessments and impact on business Technology Although technology boost production there are other ways in which it affects it in a negative manner. Smartphones, social media, internet, and other entertainment sites are among technological factors that lead to low productivity in the workplace. Most employees agree that the biggest distraction come from the use of smartphones. These smartphones have internet connectivity which enable employees to access social media and other sites. The downside is that employees spend most of their times on the internet or playing games with their smartphones
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