Labour productivity is concerned with the amount (volume) of output that is obtained from each employee.
Why does measuring and monitoring labour productivity matter?
Achieving higher labour productivity is not a simple task. Several factors influence how productive the workforce is: e.g.
How can labour productivity be measured? The common formula is as follows:
An example of this calculation is provided below:
How can a business improve its labour productivity? Here are the main approaches:
© 2021 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.