A New Global Report from Domo Shows More than 60% of Workers are “Sleepworking”

Rhea-AI Summary

Domo (NASDAQ: DOMO) released a report revealing that businesses could save $6.5B weekly by improving data access and technology, a key factor in worker productivity. The study surveyed over 3,000 employees, finding that 31% are unaware of their company's strategy, and 45% desire better data access. Almost 62% believe enhanced tech would increase their job satisfaction. The report suggests that 58% of employees acknowledged that improved access to technology could help navigate economic challenges. The study highlights a troubling trend of 'Sleepworking,' with 24% reporting high turnover in the last year, escalating to 71% among those lacking tech tools.

Positive

• Businesses could save $6.5B weekly with better tech tools.
• 62% of workers state improved tech access would make them happier at work.
• Survey indicates that 58% of employees believe better tech can help during economic downturns.

Negative

• 31% of employees feel uninformed about company strategy.
• 45% of respondents wish for better data access.
• 24% of workers reported high turnover in the past year, rising to 71% for those lacking tech tools.

Data shows businesses are losing as much as $6.5B each week in productivity due to insufficient data access and technology

SILICON SLOPES, Utah--(BUSINESS WIRE)-- Domo (Nasdaq: DOMO) today released a new report on worker productivity and strategic engagement, which found that access to company data and modern technology impacts workers’ ability to meaningfully contribute to business results. Many employees report feeling in the dark about key business objectives and insights – 31% say they feel uninformed about their company’s overall strategy and nearly half (45%) say they wish they had more access to data to inform strategic ideas. Employees also do not feel properly armed to tackle today’s workload – the majority (62%) of workers say they could get more work done with better tech tools.

Domo Sleepworking Research Report (Graphic: Business Wire)

The study of more than 3,000 working adults shows that managers are unknowingly putting employees in a state of “Sleepworking”—an inability to perform at their full potential due to a lack of technology and strategic data. Over half (58%) of workers say their need for technology has increased in the last five years, but their access to tech tools isn’t keeping up.

“In this economy, organizations of all sizes must optimize every aspect of their business. And while one of the biggest and most strategic investments a business makes is in its people, organizations are not unlocking the full potential of their workforce if employees are ‘sleepworking’,” said John Mellor, Domo CEO. “However, the results of this study show that with access to the right data and tools, every employee can be happier in their jobs, and become multipliers of business impact.”

Investing in organizational-wide technology access offers benefits that extend beyond empowerment for individual employees. It also reduces costs and workforce turnover:

• A quarter (24%) of workers report high turnover in the past 12 months — that number skyrockets to 71% for those who say they work at companies that need more tech tools.
• Businesses across the U.S. alone could recoup $6.5B each week in valuable work time with the proper tech.
• The majority (62%) of workers say better access to useful tech would make them happier at work.

Mellor added, “Our survey found that 58% of employees across the globe say better access to technology can help weather an economic downturn. By offering employees access to data and modern technologies, an entire workforce can be enabled to do their best work and make the most impact for their business.”

To read the full report, “Sleepworking: How Employee Disengagement Is Hurting Your Business,” visit here.

Methodology

Domo conducted this research using an online survey prepared by Method Research and distributed by Cint among n=3,001 adults (age 18+) employed full-time in the United States (n=2,001), United Kingdom (n=500) and Australia/New Zealand (n=500). The sample included a mix of desk workers and non-desk workers as well as a mix of management roles. Respondents were split equally on gender with a spread of age groups, geographies, and race groups represented. Data was collected from August 2 to August 19, 2022.

About Domo

Domo transforms business by putting data to work for everyone. Domo’s low-code data app platform goes beyond traditional business intelligence and analytics to enable anyone to create data apps to power any action in their business, right where work gets done. With Domo’s fully integrated cloud-native platform, critical business processes can now be optimized in days instead of months or more. For more information, visit www.domo.com. You can also follow Domo on Twitter, Facebook and LinkedIn.

Domo is a registered trademark of Domo, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005111/en/

Cynthia Cowen

PR@domo.com

Source: Domo

FAQ

What did Domo's recent report about productivity reveal?

Domo's report indicates that companies lose up to $6.5B weekly due to poor data access and technology, affecting worker productivity.

How many employees feel uninformed about their company's strategy according to Domo?

According to Domo's report, 31% of employees feel uninformed about their company’s overall strategy.

What percentage of workers want better access to data as per Domo's findings?

Domo's findings show that 45% of workers wish they had better access to data for informing strategic ideas.

What impact does technology have on employee job satisfaction according to Domo?

Domo's report states that 62% of workers believe better access to technology would increase their job satisfaction.

What trend did Domo identify regarding employee turnover?

Domo observed that 24% of workers reported high turnover in the past year, a figure that rises to 71% for those lacking adequate tech tools.