micro-managing under-achievers take 3pc bite out of hong kong gdp
Think Hong Kong employers are good judges of character, and their staff highly productive? Think again.
According to a survey by SHL, which describes itself as 'a leading provider of psychometric assessment and development solutions', Hong Kong is suffering productivity losses of $39 billion a year - or about 3 per cent of gross domestic product. That is the highest loss relative to GDP among developed countries.
The reason: Hong Kong managers hire the wrong people for the wrong jobs, and end up wasting much time cleaning up the resulting mess.
SHL estimates that Hong Kong's 350,000 managers (average annual salary US$59,100) spend up to 25 per cent of their time micro-managing under-achievers.
Or perhaps you already knew that from your own experience.