According to data presented by the Atlas VPN team, based on the Skynova survey, Millennials are losing an average of 19.3 minutes per day due to outdated workplace technology, which adds up to a staggering 84 hours or 10.5 days of working time per year.
Gen Xers and Gen Z workers are also affected, wasting approximately 18.8 minutes (close to 82 hours yearly) and 18.2 minutes (79 hours yearly), respectively.
When looking at the numbers by industry, the financial sector reports losing the most time to outdated workplace technology, with an average of 23.7 minutes daily or approximately 103 hours per year. Interestingly, the financial industry also has the newest technology among sectors, with an average age of 3.7 years.
Outdated technology is also a significant issue in the healthcare industry, consuming an average of 23 minutes daily (or close to 100 hours yearly) of workers' time.
In the meantime, workers in both the government and retail sectors waste an average of 19.4 minutes of their daily work time dealing with outdated technology, which amounts to 84 hours per year.
The cost of outdated technology
Although cost reduction is a priority for many business owners, they often fail to consider the long-term implications of outdated technology. Using old tech introduces inefficiencies and vulnerabilities that can lead to increased costs over time.
Outdated technology and software can make an organization more vulnerable to exploitation, both from internal and external sources. When an organization fails to keep its operating systems and software up to date, it increases the risk of cyber attacks exploiting known vulnerabilities in those systems, which can lead to data breaches or theft of valuable company information.
Although newer technology may come with a higher price tag, failing to upgrade means that the costs of using outdated tech will only continue to rise. In the end, investing in new technology can ultimately result in long-term savings and increased efficiency and security for businesses.
