A coalition of bosses from Britain's biggest companies, including Sainsbury's, Marks & Spencer and Lloyds Banking Group, have called on industry to better engage their workers.
The Engage for Success movement cites research that the economy would grow by £26bn if staff believed their ideas for improving their businesses were properly considered by management.
The Office for National Statistics has also shown that productivity per British worker was 20 per cent down on every other nation in the G7.
Andy Harrison, chief executive at Whitbread, owner of Premier Inn and Costa Coffee, told The Independent: "There's a natural tendency in some companies to focus on financial outputs rather than people inputs. In businesses where people are important, you have to invest in them for the long term."
On the launch of a report into the issue today, the Prime Minister expressed concern that only one-third of British workers felt that they were involved in any decision-making at their business.
Events will be held in the coming weeks to encourage employers to better consult their staff.
The campaign's supporters include Ian King, chief executive at BAE Systems, and United Utilities boss Steve Mogford.