The survey, which was conducted in five major western manufacturing countries and polled 2,288 executives from mid-sized to large firms, also found that productivity gains were experienced across the board with the US at 94%; UK – 90%; Germany – 92%; Mexico – 88%, and Brazil – 100%.
76% of all respondents plan to increase their technology budget in the next year to generate productivity. However, currently only 7% on average of manufacturers in each country ranked technology as the top source of improved productivity.
According to the survey, ‘resistance to change’ (31%) and ‘lack of leadership’ (15%) were cited as the greatest barriers to productivity improvement.
Over one-third (34%) of executives in the surveyed nations identified leadership qualities as the greatest shortcoming in the workforce, followed by 32%, who cited innovative thinking as the most significant area of weakness.
