The most enlightened companies are building employee relations by providing new opportunities for success, open communications, individual empowerment and education and career counseling. That seems sound advice. Keep the challenges stimulating, the financial rewards reasonable and most employees remain loyal, productive and happy. We are in the midst of a rapidly evolving global economy. If it has not touched your practice yet, it will very soon.
Productivity measures the relationship between cost of input and the output gained.
This is the capacity of a company's resources to produce a profit. If your structure precludes profitability, face it now and reinvent yourself, either reducing the capital needed to produce, market and service a given unit of output or a wider range of markets. To do so is to move away from price cutting and to begin to build on cohesive vision, critical self analysis, ongoing education and investment in people and process.