u003cpu003eManagers are, more than ever before, faced with the challenge of raising the productivity of employees. According to Peter Drucker, in an article entitled u0026ldquo;The New Productivity Challengeu0026rdquo; in the Harvard Business Review, u0026ldquo;u003cemu003ethis challenge will dominate the management agenda for the next several decadesu003c/emu003eu0026rdquo;.u003c/pu003eu003cpu003eThere is a need to measure productivity, to benchmark it and to continuously improve it. We once used to say u0026ldquo;u003cemu003ecreating wealth with peopleu003c/emu003eu0026rdquo; and now many businesses are u0026ldquo;u003cemu003ecreating wealth without peopleu003c/emu003eu0026rdquo;. This is a new reality of the work-place. How many jobs have become automated and how many have been rendered redundant by technology?u003c/pu003eu003cpu003eATMs have replaced bank cashiers and operate 24/7. In the manufacturing sector, so many jobs have been replaced by automated machines. Low-skilled jobs are being eliminated. Technology is also replacing the very complicated jobs which many employees would run away from.u003c/pu003eu003cpu003eThe greatest determinant of business success nowadays is u0026ldquo;u003cemu003ecosts of production/operationu003c/emu003eu0026rdquo;. Managers have this immense responsibility of keeping cost of production or of operation, at its lowest possible level. This partly explains why lay-offs are the first solution in times of crisis.u003c/pu003eu003cpu003eHistorically, employees have always demanded salary increases. They are always looking for better payments. The danger lies in the fact that this will force managers to have recourse to technology and automation whenever and wherever possible. Not many will be happy with such a statement. Yet, this is what we see happening in the world of work.u003c/pu003eu003cpu003eThe challenge for managers is to ensure that employees are given opportunities to explore and generate ideas and concepts that will strengthen the position of the business in its market. u0026ldquo;u003cemu003eAchieve more with fewer resourcesu003c/emu003eu0026rdquo; is the new winning formula that all are testing.u003c/pu003eu003cpu003eWhatever else is said, productivity will always determine the competitiveness of all businesses and will determine, as was rightly stated by Peter Drucker u0026ldquo;u003cemu003ethe very fabric of society and the quality of life in every industrialized nationu003c/emu003eu0026rdquo;.u003c/pu003eu003cpu003eThe famous quote that says u0026ldquo;u003cemu003ewe should produce the cake to be able to share itu003c/emu003eu0026rdquo; is a good way of demonstrating the importance of productivity for if there is no cake, there is nothing to share. Some few people have been trying to criticize the concept of productivity. It is high time all of us realize its true importance.u003c/pu003eu003cpu003eMany have now aknowledged that it is productivity which determines the wealth of a country. It allows a country to have a high level of GDP per capita and a high standard of living. The quality of life is highly dependent on the level of productivity. Everyone would like to have a high standard of living. This is possible only when we use all the productive resources of an economy; especially human resources in an effective and efficient way.u003c/pu003eu003cpu003eWe all have to promote a culture of productivity. Each one of us must contribute in our own ways to explain its importance. Once the idea is generally accepted by one and all, the pursuit of higher productivity will become a national issue. We need to use all the opportunities at hand to educate, inform, enlighten and inculcate the notions of productivity.u003c/pu003eu003cpu003eHigher productivity would lead to lower average costs, improved competitiveness, improved business performance, higher profits, higher wages and, most importantly, economic growth. All these lead to improved confidence in the economy, therefore more investments and more jobs created. This is why u0026ldquo;u003cemu003eProductivity will continue to dominate the management agendau003c/emu003eu0026rdquo;.u003c/pu003e
Productivity will continue to dominate the management agenda
