"Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time."
Study of how efficient workers are in terms of output per unit of labor, and factors that affect it, such as technology, education, and training.
Labor Economics: This is the study of how labor markets operate, including factors such as supply and demand, wage determination, and discrimination.
Productivity: This refers to the amount of output that is produced by a given amount of inputs, and is one key measure of the efficiency of a firm or economy.
Total Factor Productivity (TFP): This measure of productivity takes into account all factors of production, not just labor, and is useful for comparing the efficiency of different industries or countries.
Human Capital: This refers to the skills, knowledge, and experience of workers, and is an important determinant of labor productivity.
Labor Force Participation: This is the percentage of the population that is employed or actively seeking work, and is an important indicator of labor market health.
Unemployment: This is the percentage of the labor force that is seeking work but unable to find it, and is a key measure of labor market distress.
Education and Training: The level of education and training of workers is an important determinant of their productivity, and can help explain differences in productivity across individuals and industries.
Immigration: The inflow of workers from other countries can affect labor productivity in a number of ways, including by increasing competition for jobs and by providing access to a wider pool of skills.
Labor Market Institutions: These include laws, regulations, and other factors that affect how labor markets operate, such as minimum wage laws, employment protection laws, and collective bargaining arrangements.
Gender and Ethnic Differences: These factors can affect labor productivity by influencing access to education and training, discrimination in hiring and promotion, and other factors.
Technology and Innovation: Advances in technology and innovation can have significant impacts on labor productivity by making it easier and more efficient to produce goods and services.
Industrial Relations: This includes the relationship between employers and workers, as well as collective bargaining and other labor-management issues.
Trade and Globalization: These factors can affect labor productivity by increasing competition, opening up new markets, and providing access to new technologies and innovations.
Macroeconomic Policy: The broader economic environment, including monetary and fiscal policy, can affect labor productivity by influencing overall levels of investment, job creation, and economic growth.
Workforce Development: This includes initiatives aimed at improving the skills and productivity of workers, such as apprenticeships, vocational training programs, and other forms of education and training.
Aggregate Labor Productivity: It measures the overall productivity of all workers in an economy or company.
Sectoral Labor Productivity: It measures productivity within particular industries or sectors.
Multifactor Productivity: It measures productivity by combining several inputs such as labor, capital, and energy.
Labor Productivity per Hour: It measures the productivity of labor per hour worked.
Labor Productivity per Unit of Input: It measures productivity by comparing output to a particular input such as labor hours, capital, or energy.
Value-added Labor Productivity: It measures productivity by comparing the value created by labor to the cost of labor.
Manufacturing Productivity: It measures productivity within the manufacturing industry and involves components such as labor hours worked, output, and technological efficiency.
Service Sector Productivity: It measures productivity within the service sector and involves components such as labor quantity and quality, output quality, and customer satisfaction.
Total Factor Productivity: It measures productivity by looking at all the inputs used in production, including labor, capital, and technology.
Labor Productivity Index: It measures changes in productivity over time.
"In 2002, the OECD defined it as 'the ratio of a volume measure of output to a volume measure of input.'"
"Workforce productivity is to be distinguished from employee productivity, which is a measure employed at the individual level."
"Employee productivity is a measure employed at the individual level based on the assumption that the overall productivity can be broken down into increasingly smaller units until, ultimately, to the individual employee."
"Workforce productivity can be used, for example, for the purpose of allocating a benefit or sanction based on individual performance."
"Volume measures of output are normally gross domestic product (GDP) or gross value added (GVA), expressed at constant prices i.e. adjusted for inflation."
"The three most commonly used measures of input are hours worked, workforce jobs, and the number of people in employment."
"Hours worked are typically obtained from the OECD Annual National Accounts database."
"Workforce productivity, often referred to as labor productivity, is a measure for an organization or company."
"Workforce productivity is a measure for an organization or company, a process, an industry, or a country."
"The OECD defined it as 'the ratio of a volume measure of output to a volume measure of input'."
"Volume measures of output are expressed at constant prices i.e. adjusted for inflation."
"The number of people in employment is one of the commonly used measures of input."
"Volume measures of output are normally gross domestic product (GDP), expressed at constant prices i.e. adjusted for inflation."
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"Employee productivity can be broken down into increasingly smaller units until, ultimately, to the individual employee."
"Workforce productivity, often referred to as labor productivity..."
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