Wrike, the most intelligent work management platform, today released its highly anticipated 2024 Impactful Work Report, revealing striking insights into the current state of work amid ongoing economic challenges and evolving workplace dynamics. As businesses navigate remote and hybrid models while grappling with financial uncertainty, the report uncovers the growing burden on knowledge workers and the gap between what constitutes impactful work and what actually drives productivity.
Doing more, achieving less
One of the most compelling findings in the report highlights the paradox of increased workloads coupled with decreased productivity. Knowledge workers report a 31% increase in their workloads over the past year, while business leaders see an even larger increase at 46% for their teams. However, despite these rising demands, knowledge workers say only 54% of their work is high impact, compared to 57% as reported by business leaders for their own work. This disconnect is causing widespread burnout and dissatisfaction, with less than two-thirds of workers expressing happiness in their roles.
“Wrike has been transformative for our business by streamlining processes and boosting overall efficiency,” said Dan Wallack, Senior Program Manager at Carvana. “As a Senior Program Manager, I particularly value the enhanced visibility and collaboration it brings to my role. With its robust set of features, including flexible reporting and seamless integration, managing large enterprise portfolios has never been easier. Wrike’s customizable workflows and efficient scalability help us stay productive and keep up with constant demands. It’s the best option I’ve come across after vetting various competitor software.”
Efficiency measures: Are they enough?
Businesses have implemented various efficiency measures over the past two years, from quiet hiring to tech consolidation to AI. However, the report shows mixed results in their effectiveness. Business leaders estimate that AI assists with 32% of their workload, while knowledge workers put this figure at just 14%. When it comes to how AI has improved productivity, business leaders are more optimistic, with 80% believing their investments in new technologies, including AI, have improved productivity. Yet, knowledge workers are less convinced, with only 51% agreeing that these technologies have helped them work more efficiently. Despite the growing presence of AI in the workplace, it appears that its potential to reduce workloads and boost productivity remains underutilized.
Monetary impact of inefficiency
The report also calculates the financial toll of inefficiencies in the workplace, estimating that businesses waste $15,138.03 per employee annually on unnecessary work, such as unproductive meetings and duplicative work. Low-impact work, or tasks that are necessary to complete but do not directly impact goals, accounts for nearly half of the work being done across organizations. Wrike’s findings stress that activities like streamlining processes, eliminating unnecessary work, and automating low-impact work are critical to improving productivity, driving high-impact initiatives, and saving millions in lost revenue.
De Lisa Patterson, Creative Director at Window Nation, shared how Wrike’s AI features transformed their team’s workflow: “Wrike’s AI features have become indispensable in my daily workflow, enabling me to accomplish more in less time and with greater accuracy.”
Wrike allowed Window Nation to centralize project tracking, improve collaboration, and boost productivity, making it a critical part of their project management toolkit.
A call for prioritization
Wrike’s 2024 Impactful Work Report offers clear recommendations to address these challenges, emphasizing the need for businesses to align on goals, eliminate unnecessary work, automate low-impact work, and prioritize high-impact initiatives. By aligning organizational goals with meaningful work, companies can create a more focused, efficient, and happy workforce. Wrike’s platform is designed to support this transformation by automating mundane tasks and enabling teams to focus on what truly drives success.
“Our research shows that businesses are at a critical juncture,” said Thomas Scott, CEO of Wrike. “Organizations that take decisive action to prioritize impactful work, consolidate tools, and embrace automation will not only see increased efficiency but also happier, more engaged employees.”
To download the full report, visit: https://www.wrike.com/2024-impactful-work-report/.
Methodology
Wrike partnered with Sapio Research to survey 1,000 business leaders and 2,500 knowledge workers across the U.S., UK, DACH, France, and Japan. In both cases, individuals working in companies with 500+ employees were targeted.
The research consisted of interviews via an online panel and took place across March and April 2024. Respondents operate across a wide range of job functions, departments, and industries, providing as comprehensive an overview of the issues examined as possible.
About Wrike
Wrike is the most powerful work management platform. Built for teams and organizations looking to collaborate, create, and exceed every day, Wrike brings everyone and all work into a single place to remove complexity, increase productivity, and free people up to focus on their most purposeful work. With unmatched power, versatility, and intuitiveness, Wrike is the only work management solution an organization will ever need to scale, optimize, and move fast in a competitive world. More than 20,000 happy customers power their future and come together in Wrike, including Estée Lauder, Hootsuite, Nielsen, Ogilvy, Siemens, and Tiffany & Co. For more information about Wrike, visit www.wrike.com.
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