Labor productivity

PLAN
1.The essence of labor productivity.
2. Labor productivity indicators.
3. The influence of labor productivity in the business.
4. Growth factors, analysis, and methods for measuring labor productivity.
5. Interesting facts about labor productivity.
6.Conclusion.

The essence of labor productivity
Labor productivity is an indicator that characterizes its efficiency and shows the ability of employees to produce a certain amount of products per unit of time.

Labor productivity indicators
1. Production is a direct indicator of labor productivity.
2. Production is the quantity of output produced per unit of working time or per average employee or worker for a certain period.

Labor productivity indicators
1. Labor intensity is the amount of working time spent on the production of a unit of production.
2. Labor intensity is inversely proportional to the indicator of labor productivity (the number of products produced per unit of working time)

The influence of labor productivity in the business
At the macro level, the competitiveness and efficiency of the national economy cannot be considered as a simple sum of productivity, much less labor productivity at the country's enterprises.
At the enterprise level, productivity growth depends on the economic situation of the enterprise and the policy of its management in relation to the distribution of profits going to accumulation and consumption.

Growth factors, analysis, and methods for measuring labor productivity
A significant impact on the growth of labor productivity is the introduction of scientific and technological progress, which is manifested in the use of economical equipment and modern technology, which contributes to the economy of live labor (wages) and an increase in past labor (depreciation).
The economic effect can be manifested in the saving of living labor (absolute reduction) without changing the norms of labor costs per unit of production, reducing labor costs due to the release of workers, as well as in an increase in production, which causes a decrease in conditional fixed costs, i.e. relative savings of materialized labor.

Interesting facts about labor productivity
A five-hour day was more effective than a 10 - hour day.
In most companies in Europe and America, as early as the nineteenth century, it was noted that as a result of concessions to trade unions, when Industrialists reduced the working week, their business became more productive and profitable.
2. The larger the company, the easier it is for an employee to hide the amount of individual labor contribution.
The larger the company, the easier it is for an employee to hide the amount of individual labor contribution. Unfortunately, the presence of hacks in the team (real or apparent) leads to the fact that people with high productivity also begin to work carelessly.

Conclusion
1. Labor productivity is the main indicator of economic efficiency of production in the industry and each enterprise.
2. Improving productivity is essential as a factor in increasing output, reducing costs and improving the rate and mass of profit, welfare of employees, enhance the competitiveness of the firm and at the macro level - as a determining factor for economic growth and improved living standards of the population.