Productivity Lessons Learnt from the World - Best Business Practices

Productivity is more than a buzz word — it’s a critical condition for economies, businesses, and people. Essentially, productivity is about achieving more with less effort and fewer resources. Higher productivity can improve quality of life and wellbeing. For the last 15 years, however, the global economy has been grappling with low productivity growth. Working harder rather than working smarter has been the reality for many firms and sectors attempting to grow their businesses or industries. In the UK, the state of low productivity is persistent. While there is no question that the UK’s top performers are innovative, profitable, and productive, many more stay trapped in the cycle of low wage, low investment, and low productivity. Leveraging best practices helps business and finance professionals to first address low productivity at the level of organisations and, from there, to boost results nationally. This highlights the need to share knowledge and expertise, enabling business leaders and policymakers to make informed decisions on viable solutions and approaches that enhance productivity.