Corporate Kryptonite (infographic)
For the most part, when we think time waste at work, we think social media. It’s just so easily accessible as well as entertaining (to some extent). But according to a number of recent studies, it isn’t really all that time consuming. Sure, employees are not as productive while browsing social media, but the occurrences are less common than other wasteful workplace practices. According to a 2012 study AOL Jobs, “water cooler talk” is the biggest waste of time, followed by IT problems, and useless meetings.
Water cooler talk is, to some extent, preventable. The question of whether or not you want to cut off all small talk in your office is debatable. It’s probably not a move toward higher employee morale.
Meetings on the contrary, generally don’t contribute the same social value that small talk and human interaction do, and a company can probably do without long-running, inconclusive meetings. But, that is something that will need to be dealt with internally.
IT problems? Are they preventable? Does one want to prevent them? Most companies do, since employees are not especially productive when the email servers are down, or when nobody can access the company Wiki files. Many would prefer that IT problems become extinct, but as we all know, that’s just not the case. Internet connectivity fails, personal profiles are hacked en masse via social media, and computers crash and lose [lots of] critical data.
How much do these IT issues cost a company, you ask? If you’re running a 30 person company, and your average hourly rate/employee is $40, expect to pay $1,200 per hour for employee waste during an outage. Running a 2000 person company? Your hourly cost as a company for employees who are not being productive goes to $80,000/hour. BusinessComputingWorld estimates that Fortune 500 companies lose between $84,000 and $108,000 per hour of IT downtime.
Another study by Evolven found that companies that are prepared for business interruptions and have a Disaster Recovery/Continuity of Operations Plan, experience an average of .9 business interruption events annually, while those companies who are not prepared average about 3.5 interruption events annually – almost four times as many. Combine the average number of interruptions: 3, with the average downtime per interruption: 4.7 hours and multiply all of that by the average cost-per-hour for a business interruption event: $110,000, and you have $1.55 million, according to Evolven Research. The average North American Fortune 500 company loses around $1.55 million annually to preventable business interruptions.
So why aren’t more companies prepared? Are you prepared for another Sandy or Nemo coming to your town? The most realistic explanation is that there is a lack of knowledge regarding disaster recovery planning, and how to get started with the process of protecting your company’s infrastructure.
Generally, IT disaster recovery planning creates redundancy measures, or back-up infrastructure. Some of the tools used in disaster recovery planning are server colocation, Metro Ethernet connections, data backup, and Cloud hosting.
If you’d like more information on Disaster Recovery Plans, InfoRelay’s Sales Engineers and Sales Executives can provide full DR consulting services. You can get in contact with one at 1.888.55.RELAY or 703.485.4600.
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