by Jermaine Haughton
A focus on short-term profitability is putting the future success of UK businesses at risk.
British businesses are abandoning strategies aimed at long-term success in order to focus on short-term efficiency savings in their operations, according to a report from think tank Tomorrow’s Company, UK Business: What’s wrong? What’s next?.
The study, found that the pressure to cut prices for customers and clients while making greater returns to shareholders is contributing to a range of problems, from low employee motivation to poor quality control.
For managers, a major problem emanating from the pressure from employers to produce short-term financial outcomes is low employee engagement, morale and productivity – the report found that only 49% of people would be likely to recommend their company as an employer to others.
More worryingly, Kenexa’s Employee Engagement Index (EEI) gave the UK the lowest score among a group of the world’s largest economies…
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