Certainly statistics abound to support the thesis that intellectual capabilities are what provide the major impetus for North American business success. The World Economic Forum believes that future prosperity for industrialized nations depends on innovation. Productivity is a word much bandied about today. Interestingly, though, few people have a real understanding of what it means, and significantly, most would be hard pressed to measure productivity in their own workplace. So, if we're going to talk about improving productivity, it seems advisable to first explore what productivity is and to suggest ways of measuring it.
Productivity here refers to labor productivity, the amount of output per hour worked.
Productivity is used to measure the relative efficiency of an organization in terms of labor costs versus realized revenues. Clearly, all things being equal, Company A could be said to enjoy higher better productivity per employee. In practice, in the work world, productivity is measured in many ways, and it can present a confusing theoretical, statistical, and methodological morass that is too complex and lengthy to cover in this feature. Readers who are interested in pursuing productivity study or research in the interest of achieving higher performance workplaces can access information in most business libraries or via the Internet. The critical consideration here is that empowerment, decision making and the ability to bring about improvements in quality and efficiency would be empty, meaningless rhetoric if employees lacked HOT skills.