Economy, asked by husainkabir13, 1 year ago

how can productivity of labour be increased

Answers

Answered by AaishaTheBest
2

Labor productivity is a tricky statistic, and has limited utility at macro scale in a dynamic economy-- especially over long time horizons.  The reason is that the traditional definitions of (Value of Outputs)/(Hours of Labor Inputs) does not adjust for other critical data that is unrelated to the market value of labor.  For example, improved capital equipment and technology will increase nominal worker productivity even if the worker has not gained skills or done anything different at all.  In practice, narrow sector-specific productivity measures are used rather than composite/aggregate numbers.

So the cynical simplistic answer to your question is "Invest in automation."

If you are really asking how to increase the *value* of labor, then the answer is to promote education, training and fluidity in the labor market (so that workers more easily find their highest and best use in the economy at a given time-- which will likely change many times over a career).  This implies less emphasis on seniority-based job security and more focus on pricing labor with reference to value-add.

All of that said, even simplistic "productivity" numbers are useful in a static labor/capital situation over short time horizons.  Here you can improve productivity by, for example, streamlining processes (time and motion optimization) and aligning incentives (bonuses for increased quality and/or output).



Hope it helps you!

Answered by Prashanth4664
0
productivity of labourer can be increased by giving labourers correct break periods,more acuupencies should be provided, fatigue should not be showen
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