Productivity in Britain has taken a drop, reportedly back down to levels matching those in 2007. This poses a considerable risk to the economy, wages, and performance. Groups such as the CBI have researched the reasoning behind this, and have found failure to invest in new technology to be one of the culprits, along with resisting change, sluggish decision-making, and lack of engaged employees with clear leadership. Productivity is vital to generating revenue, and all of these issues need to be solved in order to increase it.
- In order to improve worker productivity the country needs to invest in training, innovation and technology.
- Change is constant and the resistance to changing the way business is conducted must be overcome.
- Employees must be challenged and be encouraged to be innovative in order to improve worker productivity.
“At a time when the public purse is tight, encouraging new technology take-up is one of the most effective routes to raising productivity.”