According to recent research from O2 Business, companies throughout the UK could potentially benefit from £34.1 billion in gains from enhanced productivity with access to better connectivity. Currently, the UK is the only major advanced economy that is expected to record slowing growth in productivity this year. However, O2 believes that investing in faster connections could lead to a thriving marketplace for the UK.
Now that the Bank of England has warned that Brexit is reducing worker output by up to 5%, the country needs all the help it can get to engage and empower employees. Since most of us are reliant on the web and digital tools for our day-to-day processes, it makes sense that connectivity would help us to thrive. This is particularly true as 50% of the workforce prepares to work from outside of the office, in a remote environment.
In its “Business without Boundaries” study, O2 found that enhanced connectivity leads to savings of around 3.14 hours per week for the average employee. That means that upgrading our connectivity could lead to up to 18 days of extra productivity per year!
The UK is Making Progress (Slowly)
This isn’t the first time that O2 has commented on the UK’s need for better connectivity solutions. The Smarter Working Britain report from 2014 also highlighted a problem with our connections. Since then, we have made progress, with a greater uptake of tools to support remote working, and stronger connection speeds. Some of the biggest businesses in Britain are benefiting from a productivity boost of around £10.5 billion from part-time remote workers.
However, there’s still work to do. If all employers could embrace tools like real-time collaboration apps, video conferencing services, and so on, then the UK could access up to £14.7 billion in extra productivity gains for SMEs alone. Large companies would earn up to £19.4 in productivity boosts.
Now that the work is changing from a place where you go, to a think you do, it’s time to embrace a more advanced digital environment. According to the Managing Director of O2 Business, Jo Bertram, the latest figures indicate that more of our leaders need to embrace opportunities for better connectivity. Digitally-enabled teams will be more productive and convenient, achieving higher levels of performance, and therefore better levels of customer satisfaction.
What’s more, the demand for stronger connections is likely to continue growing as milestone changes in the marketplace continue, such as the arrival of 5G connectivity. Already, the Chief Information and Digital Officer at Sussex and Surrey Police, Joseph Langford, says that improved connectivity makes a big difference to his team. In total, digital policing is leading to an estimated £7 million in savings per year for each force.
Transforming the UK Economy with Connectivity
As the UK continues to face turbulent times as a result of Brexit and other sources of uncertainty, O2’s study indicates that the retail sector could also see a massive benefit from improving connectivity. The retail industry could save up to £4.9 million from strengthened connections, the adoption of smart devices, and the use of data-driven tools.
Additionally, O2 also looked at how better connectivity will support productivity levels for new kinds of workers worldwide. Although they make up around half of the workforce, desk huggers that spend more of their time at a fixed locations will see the least productivity gains, while mobile workers see huge benefits. Similarly, people who spend their time moving between different office and locations will experience a better output too.
O2 believes that mobile customer service workers could gain up to £2,211 in productivity gains from better connections, while office hoppers gain £1,953, and mobile task workers gain £1,477. Even those who do work behind a desk have benefits to look forward to from stronger internet connections. O2’s study suggests that desk huggers and desk workers can benefit from £1,359 in productivity gains from an enhanced connection.
All around, the latest research from O2 suggests that if today’s companies want to make the most out of the modern workforce, they need to embrace more than just the latest tools. In the new digital environment, where remote and mobile working are growing increasingly common, connectivity could be the key to efficient and productive work. With 5G on the horizon promising better mobile connections, the demand for strong and reliable connectivity in every aspect of work is sure to increase.
