Why Is Productivity Slipping? Maybe That’s The Wrong Question
Productivity metrics were essential 100 years ago, during the manufacturing age. At that time, organizations measured success with metrics like hours worked, revenue per employee, and machine output. But now in the Fourth Industrial Revolution — the next age of technology and innovation — growth drivers are human-centric. To measure productivity, organizations need a new mindset that places a spotlight on employee engagement. The Problem With Productivity According to Deloitte, despite technology advances over the past few decades, labor productivity has declined in the U.S., U.K., and Europe. These statistics don’t seem right. Isn’t technology supposed to make us more productive?