Partner Article

£43b is well spent on gossip

Office gossip and banter is costing UK businesses £43 billion a year, and new research says that this is money well spent.

According to small business insurer More Than Business, who carried out the study, the average UK office employee spends over three hours per week gossiping. But this is not just wasted time, despite the loss in working hours. 56% of office workers claim that they feel happier when there is a buzz in the office, and 61% said they would miss the banter if they ever left their workplace.

The research showed that chat between workers is not just idle gossip. 59% of office staff appreciate what they learn from their peers and team-mates and think this is more insightful than external conferences or courses. Just over half also felt that they improve their own skills from merely observing their colleagues at work.

Mike Bowman, head of More Than Business, explained: “On the face of it £43 billion a year is clearly a large amount, but in reality, a bit of office banter is hugely important for business. Not only is it essential for staff morale and keeping informed on social affairs, but it also helps office workers solve any problems they may have in their job and generate new ideas.

Whilst the majority of the UK workplace is thriving on the emotional support and extended skill sets that an office environment can provide, many of the UK’s small businesses are at risk of missing out. Whilst many small business owners are benefiting from a good work life balance, almost a fifth admit to never socialising with their colleagues.

Psychologist Dr Sally Ann Law said: “The social bonds developed at work provide a vital support network for human beings. As we spend more time at work than at home, it is inevitable that ties will be strong and even the odd moan and gossip is a constructive outlet. “The most successful small business owners are those that can develop and maintain some sort of support network outside their family.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .