In a continuously evolving business environment, understanding productivity trends is crucial for organizations aiming to optimize performance. Improved productivity is a key metric many organizations use to assess the impact of their digital workplace improvement efforts, according to Reworked research.
ActivTrak's Productivity Lab has refreshed its latest benchmark report, covering the first half of 2024. This in-depth analysis provides an objective view of workforce behaviors across industries and work locations, helping organizations assess their current position, identify areas for improvement and reinforce positive trends.
Key Findings
While the full analysis included over 20 industries, findings centered on the four largest in our customer base: financial services, healthcare, insurance and professional services.
Our findings indicate that Financial Services employees are leaders in productive time. Employees in the Financial Services sector enjoy 30 minutes more productive time per day compared to their cross-industry peers. They also have a healthy utilization rate that is 9% higher than their peers. These figures suggest that Financial Services companies set the bar high, with effective strategies to maximize employee productivity while maintaining a healthy work environment.
While Healthcare workers are highly productive, the data raises concerns about sustainable work practices and employee well-being in this sector. Even as the Healthcare industry experiences 36 minutes more productive time per day than the cross-industry average, over 1/3 of employees are at risk of attrition due to burnout or disengagement. Time will tell if this level of productivity is sustainable.
Insurance industry employees demonstrate strong performance metrics, enjoying high levels of efficiency with less collaboration. Our findings suggest that Insurance companies have optimized individual workflows but may need to reassess their collaborative practices. Consider that the Insurance industry benchmarks higher than cross-industry averages in most areas with 41% fewer employees classified as underutilized. However, only 18 minutes per day is spent in collaborative applications.
The Professional Services industry also stands out in terms of employee utilization. This industry enjoys a 50% lower underutilization rate compared to both cross-industry and Healthcare industry medians. This indicates that Professional Services firms are particularly effective at matching workload to capacity, potentially leading to higher overall productivity.
Location Insights
As part of this study, we also wanted to understand how different work location models impact employee productivity and well-being. Our research included nearly 150 companies representing more than 33,000 employees. The study categorized work location types based on daily data records, defining them as remote-only, remote-first, office-first, office-only or hybrid. Each category represents a distinct approach to where employees spend their working hours.
One of the most notable findings centers on remote-only employees. These workers — who spend all their time working outside the traditional office environment — exhibit the highest rate of overutilization across all working models, spending 31% of their time in this state. This group also demonstrates the highest level of focus, recording 4 hours and 24 minutes of concentrated work time per day. By contrast, office-first employees (those who spend more than 60% of their time in the office) spend 68% of their time in a healthy utilization state. This indicates a more balanced approach to their workday. It also suggests that the structure and routine of office life — combined with some flexibility for remote work — may contribute to more sustainable work habits.
When it comes to breaks, employees across different work models log similar amounts of break time, ranging from 104 to 120 minutes per day. Hybrid workers are the exception, recording approximately 90 minutes of break time per day. This reduced time could be attributed to various factors, such as the need to maximize productivity during in-office days or the natural breaks that occur when transitioning between work locations.
These findings offer valuable insights for companies as they navigate the complexities of modern work arrangements. While remote work offers unparalleled focus, it also comes with the risk of overutilization. On the other hand, office-centric models seem to promote a more balanced work experience. As organizations continue to refine their work location strategies, understanding these nuances will be key to fostering productive, engaged and well-balanced teams.
Business Implications of Productivity Findings
These benchmarks provide valuable, moment-in-time reference points for organizations across various sectors. Here's how teams can leverage this data:
- Assess current performance: Compare your team's metrics against industry peers and cross-industry benchmarks to identify areas of strength and opportunity.
- Set realistic goals: Use these benchmarks to establish achievable productivity targets that align with industry standards.
- Learn from high performers: Explore the practices of top industries and high performers within your organization to identify strategies that can be applied across your organization.
- Monitor employee well-being: Pay attention to utilization rates to ensure that high performance is sustainable and doesn't come at the cost of employee health.
While these benchmarks provide useful comparisons, it's essential to consider them in the context of your organization's unique goals, culture and challenges. By understanding these trends, organizations can make data-driven decisions to optimize their operations, improve employee satisfaction and drive business success. Use this data as a starting point for deeper analysis and targeted improvements in your broader workforce management strategies.
About the Data
The ActivTrak Productivity Lab benchmarks are based on aggregated data collected from January 1 to June 30, 2024. This extensive dataset encompasses nearly 1,000 companies and more than 135,000 employees. The metrics presented reflect the median quartile of the customer base, providing a balanced view of productivity trends.
Download the complete breakdown of benchmarks and request a demo to learn how to create your productivity baselines at activtrak.com.