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The Hidden Cost of Work Complexities Caused by Low Visibility, Wasted Time, Project Delays, and Employee Churn is a new research by Work Management Leader.
Wrike, the most powerful work management platform, released new findings that show the cost of work complexities brought about by the Digital Era. According to a research report commissioned by Wrike, up to 45% of the work that takes place within an organization is not visible to key stakeholders. The term “Dark Matter of Work” was created by Wrike founder Andrew Filev to describe the vast amount of work that isn’t captured, tracked, or measured against goals because it takes place in unstructured ways.
“The current economic climate has created an urgent need for organizations to increase efficiency and drive up productivity while providing their employees with a genuine sense of purpose in the work they contribute to,” says Andrew Filev, Senior Vice President and Wrike General Manager. The Digital Era has created a new level of chaos and misalignment because of the proliferation of apps and data. It is offsetting major projects and losing their best talent. We are moving into a turbulent economic market and neither of which organizations can afford it. In order to survive this next stage with optimum efficiency, it is going to be critical for organizations to understand the depth of work complexity and what they need to do to overcome them.
Wrike surveyed 2,800 business leaders and knowledge workers to determine the root causes of work complexity and the severity of the impact on businesses, teams and individuals. The cost of the Dark Matter of Work is staggering. Organizations with 3,200 employees can lose up to $52 million annually in wasted time due to unproductive meetings, duplicated efforts, information seeking, and status check-ins, as well as $82 million in delayed or canceled projects. Organizations with 100 employees can lose over a million dollars a year, while 100,000 can lose over a billion dollars.
It wasn’t until recent years that work complexity began to create significant gaps in information visibility and collaboration Surge in applications and data processed, as well as the general pace of work today is the reason for this. The European Organization for Nuclear Research identified Dark Matter as the “invisible” content that makes up 85% of the mass of the universe, and that has a powerful influence on the projects around.
There are gaps between systems and applications that aren’t integrated, and this Dark Matter of Work lives in this. Without a single work platform in place that is powerful and versatile enough to track, manage, action, and align all work to goals across an organization, there is a dangerously low level of visibility amongst knowledge workers and leaders.
The existence of the Dark Matter of Work, the real cost it has on organizations, and the path forward toward optimum efficiency were uncovered by Wrike.
Knowledge workers say they use 14 applications every day, and nine new applications were rolled out on average amongst businesses.
Business leaders say they can only integrate a small percentage of their applications.
295 work-related messages are sent and received by the average knowledge worker.
Knowledge workers work 18 days a year.
A majority of business leaders encounter problems with projects at least once a week that could be avoided with real-time insight into the status of the project.
It is not possible to say how well everyone is progressing because so much of the relevant information is in a black hole.
Knowledge workers are often working at cross purposes with their colleagues.
Knowledge workers say they are tired.
In the next five years, the number is expected to grow by 53% if the Dark Matter of Work isn’t controlled.
Knowledge workers say that a single source of truth would reduce stress in their teams.
In order to create a single source of truth for work in their enterprise, 86% of enterprises are planning to invest in tools such as artificial intelligence and workflows automation.
The VP of Product, Wrike, says that the Dark Matter of Work has the potential to destroy organizations. Wrike is on a mission to shed light on these work complexities, bringing all forms of work, no matter where it comes from, into a single source of truth for organizations large and small. Over the years, we have taken steps to innovate in the areas of artificial intelligence, machine learning, integrations, and more in order to keep up with the pace and changes in modern work environments.
Wrike announced updates to its Work Intelligence suite, which allows organizations to scale by empowering teams to predict and minimize delays, reduce manual efforts, and focus on the work that matters most. These recent updates use Artificial Intelligence to work. The company has announced a way to make it easier for teams to uncover and bring work into the visible universe. This new feature allows teams to create custom item types specific to their workflows. A true “Work as One” environment for organizations can be created with this level of flexibility, which allows any individual, team, or organization to feel at home in Wrike.
Work management software can bring all work into one place. Business leaders have full visibility in order to better understand how work supports strategic initiatives and organizational goals, as teams get aholistic view of projects in play.
The findings of the “Dark Matter of Work: The Hidden Cost of Work Complexities” report can be found at: https://www.wrike.com/lp/ebook-dark-matter-of-work-report.
The dark-matter-of-work-human-cost-of-work-complexities can be found at: https://www.wrike.com/newsroom/dark-matter-of-work-human-cost-of-work-complexities
The method is used.
804 business function leaders and 2,003 knowledge workers in IT, marketing, or project management functions, or creative, marketing, PR and advertising agencies, or professional services firms in the U.S. and U.K were surveyed. The online surveys were done from March to April of the following year. The financial costs were calculated using the average number of employees in the business units.
Three-quarters of respondents worked in or led functions in large organizations in both surveys. The other quarter was used to work in or lead the agencies or firms.
For the investors.
The safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 apply to this release. The statements in this release are forward-looking. The impact of the global economy, uncertainty in the IT spending environment, revenue growth and recognition of revenue, products and services are some of the factors that could cause actual results to differ. The announcements described in the press release are not required to be updated by Citrix. The development, release and timing of any features or functions described for our products are subject to change without notice or consultation. The information provided is for informational purposes only and is not a commitment, promise or legal obligation to deliver any material, code orFunctionality and should not be relied upon in making purchasing decisions or included into any contract.
Wrike is about something.
Wrike is an intelligent, versatile work management platform. It can be configured to transform how work is done. Wrike puts teams in control of their digital workflows, allowing them to focus on the most important work, maximize potential, and accelerate business growth. Wrike is used by teams to plan, manage, and complete work. Wrike is located in Fort Lauderdale, Florida. Visit www.wrike.com for more information.
The source version can be found at businesswire.com.
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Schaff is a senior manager.