On December 8 2016, Vodafone UK and the London School of Economics released a comprehensive report looking into the business productivity and how businesses of all sizes can unlock new growth.
As a nation, we’re at a critical juncture as we strive to increase economic output and join the top productive G7 nations – and Dr. Alexander Grous, from the LSE, has used data from over 20,000 interviews over ten years to address this problem. Alexander notes that the major block to organisations addressing the productivity puzzle is that firms either don’t even know there is a problem or don’t know how to address it constructively. In this video interview, Dr. Grous explains the three key components he has found during his research to help businesses unlock their productivity:
- Good management practices – Dr. Grous calls this the lever; all productivity either thrives or fails at this level
- The use of technology in the firm
- Flexible workforce
Dr. Grous goes on to explain not only how to create a flexible workforce, but to nurture this as well, so that employees are motivated, happy, and most importantly, producing effective work. Through a solid understanding of the composition of the firm, and what ideal organisational output is, management can then begin to see what enables productivity, and how they can measure effectiveness.Power of Productivity: LSE report commissioned by Vodafone Click To Tweet