ActivTrak Productivity Lab: Quarterly Benchmarks Highlight Key Findings Across Financial Services, Healthcare and Insurance Sectors

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Oct 04, 2023, 10:00 ET

Productivity management ranks as top workforce issue among survey respondents

AUSTIN, Texas, Oct. 4, 2023 /PRNewswire/ -- The ActivTrak Productivity Lab today announced key findings from a quarterly benchmarking study of digital workplace behaviors revealing financial services employees are among the healthiest^¹ across industry verticals, while healthcare employees face the greatest risk of burnout.

The Productivity Lab analyzed more than 38 million hours worked from 134,260 anonymized employees representing more than 900 ActivTrak customers between January 1, 2022 and June 30, 2023. This data was supplemented by a smaller sample of poll results from recent webinar attendees. Across financial services, healthcare and insurance, the majority of survey respondents ranked productivity management as the top workforce issue they are trying to solve. Findings from quarter-over-quarter benchmark data and poll results in these sectors reveal for Q2 2023:

Financial Services:

Length of workday from first to last activity (11 hours 4 mins) improved slightly (-5 mins), but is still longest among cross-industry peers.
Focus time on productive activities (4.7 hours) improved (+7 mins), but is lowest across verticals.
Largest percentage of healthy workers (72%), which improved more than other verticals (+16%).
Decrease in overutilization^² (-26%) but still a significant number (25%) at risk of burnout.
This is also supported by poll data, in which 60% of respondents ranked employee utilization as the most important team performance metric.

Healthcare:

Logged the most screen time (7.9 hours) continuing the only upward trend across verticals.
Spent the most time focused on productive activities (5.2 hours).
Overutilization (40%) dropped slightly (-6%), but outpaces other sectors by significant measure.
Lowest number of healthy employees (57%) among cross-industry peers.
Poll responses support these figures, with 80% of respondents confirming that capacity optimization is the most important team performance metric.

Insurance:

Shortest workday (9 hours 8 mins) with the biggest drop (-26 mins) in five quarters.
Improved overall productivity efficiency, pulling even with financial services (96%).
Largest improvement (+19 mins) in focus time on productive activities (5.1 hours).
This may be reflective of poll responses, which rank customer satisfaction as the most important team performance metric.
Utilization remained steady, with no changes in overutilized (29%) or underutilized^³ (2%) employees.

"Vertical markets typically have their own set of business standards, which can have wide-ranging ripple effects on employees," said Productivity Lab Manager Sarah Altemus. "For the healthcare sector, workforce analytics data can help organizations make critical adjustments, such as redistributing workloads to improve employee well-being. For others, such as financial services and insurance, similar insights serve to validate positive trends and ongoing investment in productivity and performance improvement."

Organizations across multiple industries use ActivTrak's workforce analytics platform to gain insights into and measure workforce productivity and team performance, including but not limited to capacity optimization, focus, burnout and meeting insights.

To benchmark productivity across your organization, create a free ActivTrak account today.

To learn more about Productivity Lab research and best practices:

About ActivTrak
ActivTrak helps employers and employees work better together to realize their full potential. Our workforce analytics cloud provides visibility and insights across people, processes and technology to help organizations inform key decisions and optimize outcomes. More than 9,000 customers trust ActivTrak, which has been recognized by the Deloitte Technology Fast 500, Inc. 5000 and Brandon Hall Excellence in Technology award. Founded in 2009, and based in Austin, Texas, ActivTrak is backed by Sapphire Ventures and Elsewhere Partners. To learn more visit: https://www.activtrak.com/.

^¹ Healthy: When an employee's productive hours a day are within 30% (+/-) of their productive hours a day goal
^² Overutilization: When an employee's productive hours a day are at least 31% higher than their productive hours a day goal
^³ Underutilization: When an employee's productive hours a day are at least 31% lower than their productive hours a day goal

SOURCE ActivTrak