Workforce productivity is the amount of goods and services that a worker produces in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity can be measured for a firm, a process, an industry, or a country. It is often referred to as labor productivity because it was originally studied only with respect to the work of laborers as opposed to managers or professionals.
The OECD defines it as "the ratio of a volume measure of output to a volume measure of input". Volume measures of output are normally gross domestic product (GDP) or gross value added (GVA), expressed at constant prices i.e. adjusted for inflation. The three most commonly used measures of input are:
- hours worked;
- workforce jobs; and
- number of people in employment.
Read more about Workforce Productivity: Measurement, Factors Affecting Labour Productivity, Psychological Factors of Feedback On Performance, See Also
Famous quotes containing the word productivity:
“It is ultimately in employers’ best interests to have their employees’ families functioning smoothly. In the long run, children who misbehave because they are inadequately supervised or marital partners who disapprove of their spouse’s work situation are productivity problems. Just as work affects parents and children, parents and children affect the workplace by influencing the employed parents’ morale, absenteeism, and productivity.”
—Ann C. Crouter (20th century)