Up to over 80 hours a year are being frittered away on dealing with insufficient workplace technology, according to a new report.
One of the best VPN services, Atlas VPN, gathered data from Skynova, a provider of small business software, who surveyed over a thousand citizens in the US about the tech they use at work.
Millennials were the ones who reached the maximum headline figure for hours lost, calculated by multiplying the time lost per day – 19.3 minutes on average – by the number of workdays in a year. This equates to just over 10 working days per year.
Time wasted by industry
Generation X were close behind, with 18.8 minutes a day wasted (nearly 82 hours a year), who in turn had Generation Z hot on their heels (18.2 minutes daily/ 79 hours yearly).
In terms of sectors, the financial industry lost the most time from outdated tech, with nearly 24 minutes a day lost, or 103 hours a year. Next was Healthcare, with workers losing 23 minutes daily/ nearly 100 hours yearly, followed by government and retail sectors who waste an average of 19.4 minutes daily or 84 hours per year.
Rounding out the rest were workers in the hospitality and food and beverage industries (18.2 minutes daily/ 79 hours yearly), the IT industry (17.1 minutes daily/ 74 hours annually), and the education sector (16.6 minutes daily/ 72 hours yearly).
Atlas VPN notes that while businesses are keen to keep their operating costs down, they often neglect the “long-term implications of outdated technology,” namely, “inefficiencies and vulnerabilities that can lead to increased costs over time.”
Old software and hardware can leave businesses exposed to serious cyberattacks and data breaches, which have all sorts of negative consequences, losing them money in both direct and indirect ways. For instance, not only could ransomware force them to pay out to retrieve their stolen data (something we never recommend doing), but the bad publicity can lead to a severe loss of custom too.
“Although newer technology may come with a higher price tag, failing to upgrade means that the costs of using outdated tech will only continue to rise,” says Atlas VPN. “In the end, investing in new technology can ultimately result in long-term savings and increased efficiency and security for businesses.”