Productivity

What is Productivity?

Productivity is defined as a unit of measurement of economic or business performance. These reports of productivity indicate how efficiently people, companies, industries, and whole economies are working in the organization. They keep a track of how to convert inputs, such as labor and capital, into outputs, such as goods or services.

Some of the different productivity types and its measurement are as follows.

• Workforce productivity:

           Workforce productivity is the calculated productivity of all individuals in a company’s workforce.

• Sector productivity:

           It is about measuring the productivity of all the companies in an industry or a particular sector.

• Team or department productivity:

          The collective output of one or more individuals united under one section of the project goal.

• National or global productivity:

           Productivity of all industries in a similar economy is defined as national or global productivity.

Also, See: Product Led Growth