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The purpose of this report is to gain a better understanding of the opportunities and challenges companies around the world face when trying to improve their productivity. This 2008 study examines current company productivity, the potential for productivity gains, the barriers companies must overcome in order to improve their productivity, and the initiatives companies are planning to drive productivity gains over the following 12 months. The findings are the result of interviews with over 1200 mid-level managers across 12 countries (Australia, Brazil, Canada, China, France, Germany, India, Russia, South Africa, Spain, United Kingdom and United States of America) and eight sectors (automotive, communications, energy, financial services, food and beverage, manufacturing, mining and retail) along with an analysis of data collected during 2007 and in-depth interviews with senior executives around the world. Key findings include: (1) companies will leave 30 per cent of potential productivity gains untapped over the next two years; (2) managers spend 34 per cent of their time on administrative tasks and only 10 per cent of their time on training and active supervision of their workers; (3) 34 per cent of the average worker's time is spent on unproductive activities, up from 32 per cent the prior year; (4) the top six barriers to improved productivity are (a) a shortage of skilled workers; (b) internal communication issues; (c) legislation and regulation; (d) low employee morale; (e) high employee turnover; and (f) quality of supervisors. The report examines each of these barriers in detail, examining their relevance across markets and sectors and provides insight into the expectations managers have regarding potential improvement or deterioration of these key barriers in 2009.