“A company can only create more value by focusing on both efficiency and effectiveness and less on costs. Focusing solely on cost reduction will not help you become successful.”
Svend ulrik nyholm and thomas juhl, PA operational excellence EXPERTs
In DJØF Bladet, a magazine addressing professionals in the legal and economic sectors, PA’s Svend Ulrik Nyholm and Thomas Juhl, operational excellence experts, reveal how working smarter can increase productivity in the Danish labour market. According to Svend and Thomas, Danes work fewer hours compared to most other European countries and their effectiveness during the working day has also diminished in the past few years – resulting in poorer competitive performance
“A company can only create more value by focusing on both efficiency and effectiveness and less on costs. Focusing solely on cost reduction will not help you become successful,” they explain, adding that their experience indicates only 30 per cent of the Danes’ working hours are dedicated to creating true value, while the remaining time is spent on meetings, research and other internal activities.
In order to create more value, employees need a clear understanding of the company’s objectives as well as clear guidance from management. Svend and Thomas conclude that: “We shouldn’t compromise the unique work–life balance that characterises the Danish labour market. However, to increase Denmark’s competitiveness we do need to work smarter.”
Svend Ulrik Nyholm and Thomas Juhl are operational excellence experts at PA Consulting Group
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