Monday, 28 March 2016

Selling Solutions to Productivity Arguments on the cost of UK Bank holidays.

Selling Solutions to Productivity Arguments on the cost of 

 UK Bank holidays. ( fist written up in 2012)
I enjoy my Easter break and it's a chance to return with batteries recharged. The UK has less bank holidays than many other countries.

However such Public holidays have a cost.
The economists at  The Centre for Economics and Business Research  (CEBR ) estimate that Good Friday ; Easter Monday    “ come with a price tag of about £4.7bn." according to Daniel Solomon of CEBR .

 The CEBR  think tank wants Bank Holidays to be more spread out over the year to stop businesses "losing momentum".

CEBR founder Douglas McWilliams told BBC Breakfast: ‘We have done some maths on this and about 45 per cent of the economy suffers, the offices, the factories, the building sites where people tend not to go to work on Bank Holiday."
‘About 15 per cent of the economy, shops, pubs, clubs, restaurants, cafes and visitor attractions, they actually do well out of the Bank Holiday, it's a mixed thing.The news was passed around by the likes of  Daily Telegraph on line, Sky news ,and  Sony Award-winning presenter James Whale  hosted  a lively discussion with listeners of the LBC Drive time show which I found most entertaining on Easter Monday afternoon.

Mr Solomon of CEBR noted the Easter holidays are "peak time for spending on garden equipment and DIY" but said the sectors that gain account for far less of the economy than those such as offices and construction that lose out.

The think thank says that if bank holidays were scrapped, Britain's gross domestic product (GDP) - a measure of the value of goods and services produced by all sectors of the
 economy - would be £19bn higher every year. 
GDP may not be the whole story launching the inclusion of well being items in the Office for National Statistics' survey a few months ago, the prime minister emphasised that GDP was not a good measure of a society's success

Last month, the Governor of the Bank of England Sir Mervyn King warned that the extra bank holiday for the Diamond Jubilee could damage Britain’s economy.

Sir Mervyn said output would fall in the second quarter of the year as the country celebrates the Queen’s 60 years on the throne in June.

He told the House of Lords Economic Affairs Committee that the Jubilee celebrations would have a similar impact on the economy to last year’s Royal Wedding, when the recovery stalled.

The Department for Culture, Media and Sport estimated that the royal wedding last year cost the UK £1.2billion or 0.08 per cent of GDP reported the Daily Mail.

But Sir Mervyn said the economy would bounce back later in the third quarter as visitors flood into Britain to watch the Olympics in July and August
The Implications of all this to those in selling

For Salespeople such type of thinking does have a place if only to make the most of what active selling time we have. Salespeople don't have the luxury of presenteeism as Lord Hutton of the Work Foundation

How much Selling time ( face to face or phone ) do I really have ? Below is a typical calculation

An average year is 365 days


Weekends                             104                 265

Annual holidays                  20                    241

Bank Holidays                      8                      233

Training Days                       5                      228

Trade days/ exhibitions       10                    218

Conference days                  3                      215

Days ill                                  3                      212

Planning Days                     12                    2 00

For many salespeople it will be less than 200 days available for ‘active’ selling time.

More thought provoking is what we do within those 200 days n the field or on phone.

In 2009, Alexander Proudfoot Consulting Group, www.alexandrproudfoot. ,published  a sales productivity report.  
Participating corporate respondents included over 800 executives in 19 countries from publicly- and privately-held enterprises and a wide array of industry groups
The chart below is based on research by numerous organisations including CSO Insights, IDC, and Aberdeen Group that indicate salespeople typically spend between 26% and 42% of their time on core sales activities that drive sales. 

Related Links

Related Links

James Whale LBC Radio
Daily Telegraph –Emily Godson
BBC news 1823 comments
Direct Gov site
Mercer HR

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