- Jun 25, 2019,
With the welcome news that the longest government shutdown in U.S. history has finally come to an end, albeit possibly temporarily, many of us are left wondering one thing — how much did this cost?
Former Maryland congressman John Delaney, a Democratic Presidential candidate, recently tweeted, “It costs between $12-20 Million more an HOUR to run gov’t during shutdown – it’s MORE expensive to run a closed government.”
Incredibly, his statement is quite spot on.
At the time of Delaney’s post, which was a full 10 days before the shutdown officially ended, it was estimated that the total lost labor was up to $1,800,000,000.
Assuming 8 working hours on all 25 of the days when that estimate was made, that’s $9 million a day or $150,000 an hour, in lost labor costs; and all because “management” couldn’t come to a decision.
And that’s not even including the reduced productivity of the labor force that was still working (with or without pay), or the fact that all these workers also cut back on shopping, which of course has wider effects on the economy.
Now think about this, how long does it take for your company to make a decision? Hopefully it’s less than 35 days, but even if it’s just a week or less, every inefficient process or slow approval can act like a “mini-shutdown” to your business. Teams and divisions are stuck waiting to move forward, resulting in lost labor potentially costing your company hundreds of thousands of dollars every single year.
It’s not only a huge source of frustration; every single delayed approval, or poorly designed process, results in a mini-shutdown to your business, and the costs really add up.
Even if you lowball your estimations to a mere average of 10 minutes per workday of downtime, that’s still over 40 hours, per person, in lost time each and every year. That means that for about every 50 employees, you’re losing the equivalent of 1 full employee a year. Wouldn’t you rather put that labor cost to work?
How often do you find yourself navigating an application, or waiting for it to load so you can review data and/or make a decision? How much time do you and your team lose waiting for an approval from another department or executive?
How much are these delays actually costing you?
Capriza ApproveSimple ends the shutdown. Easily integrating with all your existing apps and workflows, ApproveSimple securely delivers a consolidated list of all pending approvals, that gives each business user details needed to make a smarter decision faster. With Capriza ApproveSimple you can reduce approval process cycle times by up to 70% or more.
Every minute costs.