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Human error costs industry billions: employee misunderstanding is the primary cause of financial loss, which must be mitigated.

Publication: Pharmaceutical Technology Europe
Publication Date: 01-JUL-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
One of the greatest risks to the success of a business is human error caused by employees' misunderstanding of key aspects of their job roles, and this risk is commonly overlooked or underestimated.

In 2008, a white paper entitled 'Counting the Cost of Employee Misunderstanding' from global analyst firm IDC, examined employee misunderstanding and its financial impact on 400 businesses in the UK and the US with more than 5000 employees. (1) It established that 23% of employees do not understand at least one critical aspect of their job. On average, businesses with 100000 employees are each losing [pounds sterling]31 million per year, equating to approximately [pounds sterling]315 per employee, whilst the estimated overall cost to US and UK businesses is [pounds sterling]18.7 billion....

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