Hubbard and Hubbard surveyed employees to find out what percentage of an eight-hour day is not spent on critical work due to real or perceived workplace barriers. While answers ranged between 9 and 90 percent, Hubbard said 25 percent was the score given most often by respondents.
“Twenty-five percent of an eight-hour day is two hours per day, per person,” Hubbard said. “Doesn’t sound like a lot. You take that two hours per day per person and you take an average wage of $12. So now it’s $24 per person. You take 5,000 people, that’s $120,000 per day. That translates to about $31.2 million a year in terms of lost productivity cost.”
After factoring in statistical estimates of error and barriers not related to diversity, Hubbard said the client’s cost equated to about $11.9 million per year.
Read full article at http://www.workforcediversitynetwork.com/res_articles_measurediversity_prokopeak.aspx.