Productivity, Formula, Examples

Definition of Productivity : A basic measure of the productivity of an economy, industry, organisation, team or individual.The productivity formula is expressed as :

Productivity = OutputInput

Example :

Company 'XYZ' generated $70,000 worth of goods or services in one week with 25 employees.

You would divide 70,000 by 25, which equals 2,800 (meaning each employee produced $2,800 for your company per week).

Tips To Improve Labour Productivity :

1. Set Clear Goals

2. Provide Feedback On Regular Basis

3. Provide Right Equipments

4. Motivation