The biggest companies in Australia are the most productive
The top five employers in Australia employ more than 80 per cent of all workers in Australia.
Source: Business Insider title Australia’s biggest companies are the least productive, according to research by consulting firm McKinsey & Co. article The biggest employers in the country are largely tech companies with large operations in Sydney, Melbourne and Brisbane.
However, some smaller companies also rank highly, with the biggest being Australia’s largest bank, Commonwealth Bank, at number two.
The second most productive company is the Australian Manufacturing Workers Union at number six.
McKinsey &s partner Mark Jardine said the study also looked at how many employees each company employs.
“The top 10 companies with the largest employees are the ones that are the biggest in terms of productivity,” he said.
“In other words, the companies with more than 100 employees or more than 10,000 employees are also the most profitable.”
So it’s quite obvious, that these are the companies that have the highest average productivity.
“But the companies where they are the smallest are also those that are also in the top 10.”
Mr Jardines study also examined the productivity of employees of the top 20 companies, which were ranked from most to least productive.
The report found that only one company had a higher average productivity than the next most productive.BHP Billiton ranked fourth, followed by Australia’s two biggest banks, ANZ and Westpac.
The survey found that employees of a company that employs more than 500 people have the greatest average productivity, while employees of companies that employ less than 500 have a lower average productivity score.
Mr Jartine said he had found that companies had different motivations for hiring and retaining employees.
“It’s a very individualistic, self-selecting way of doing things,” he told the ABC.
“For instance, you may have some employees that have higher productivity than you do, and you may also have some that have a higher turnover.”
There’s a lot of different factors that go into making those decisions.
It’s also very competitive.
Co’s study found that the top five companies in the world are the world’s most productive, but the top two in Australia also have the lowest average productivity scores.
The top five are BHP Billington at number four, UnitedHealth Group at number five, Westpac Banking at number eight and Citigroup at number 11.
McNicol’s research also found that more than a quarter of the world economy is in the red.