Productivity is the key source of economic growth and competitiveness. Productivity measures output per unit of input such as labour, capital or any other resource. It is often calculated for the economy as a ratio of gross domestic product (GDP) to hours worked. Increases in output can only be due to increases in the inputs to the production process or to the efficiency with which they are used. Productivity growth is our opportunity to increase output without increasing inputs and incurring these costs. Productivity in the workplace refers simply to how much work is done over a specific period of time. When productivity fails to grow significantly, it limits potential gains in wages, corporate profits, and living standards. Economists use productivity growth to model the productive capacity of economies and determine their capacity utilization rates. The most commonly reported productivity measure is labour productivity published by the Bureau of Labour Statistics. Listing tasks in order of importance and tackling them one by one can improve productivity.

Navya R Nair

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