Companies set to lose $500 million to employees spending working hours on bank queues: IPC survey

A study by Industrial Psychology Consultants (IPC) titled Productivity loses as a result of bank queues survey report highlights that companies are set to lose $500 million this year because of the current cash crisis.

The survey states that companies lose at least $40 million a month to employees who are not productive since employees spend working hours waiting for cash on bank queues. The survey arrived at the figure using an average wage of $250 per month. Part of the survey report reads:

If we use an average wage of $250 per month the lose goes down to half. This will translate into slightly below half a billion per year if the cash shortages continue at the current rate.

More: Financial Gazette copy

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