Laggards at work are costing economies billions of US dollars a year, a multi-country study said on Saturday.
In absolute terms, the US incurs the biggest loss in wasted talent and management time -- U$106 billion yearly -- followed by the UK at US$25 billion, according to the global firm SHL.
SHL said that poor performers cost employers in India US$11 billion yearly, those in Hong Kong US$5 billion and those in Australia US$4 billion.
Going by overt costs arising from wasted time in managing poor performances and correcting mistakes, the study said Singapore squanders 1.5 to 2 percent of gross domestic product every year because of underperforming workers.
Doing badly on the job can cost Singapore up to US$3.2 billion, SHL estimated.
On the low side, underperformance at the workplace costs Sweden US$1.3 billion, or 0.6 percent of its gross domestic product, yearly.
Managerial salaries in Sweden "are far lower relative to the mean than in all other countries," said the study.
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