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Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity , is a measure for an organisation or company, a process, an industry, or a country.
Workforce management (WFM) is an institutional process that maximizes performance levels and competency for an organization. The process includes all the activities needed to maintain a productive workforce, such as field service management , human resource management , performance and training management, data collection, recruiting, budgeting ...
Overall labor effectiveness (OLE) is a key performance indicator (KPI) that measures the utilization, performance, and quality of the workforce and its impact on productivity. Similar to overall equipment effectiveness (OEE), OLE measures availability, performance, and quality.
Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. [1]
In business economics cost breakdown analysis is a method of cost analysis, which itemizes the cost of a certain product or service into its various components, the so-called cost drivers. The cost breakdown analysis is a popular cost reduction strategy and a viable opportunity for businesses.
It is as important as all other statistical techniques because it permits quick analysis, recognition, and enhancement of job responsibilities, tasks, performance competencies, and organizational work flows. Other names used for it are 'activity sampling', 'occurrence sampling', and 'ratio delay study'. [2]
Work design (also referred to as job design or task design) is an area of research and practice within industrial and organizational psychology, and is concerned with the "content and organization of one's work tasks, activities, relationships, and responsibilities" (p. 662). [1]
An explanation of the difference between efficiency and (total factor) productivity is found in "An Introduction to Efficiency and Productivity Analysis". [1] To complicate the meaning, operational excellence , which is about continuous improvement, not limited to efficiency, is occasionally used when meaning operational efficiency.