The Importance of Employee Productivity
By all accounts, New Zealand has an issue with productivity. The average Kiwi works 34.2 hours per week, which is significantly higher than the OECD average of 31.9 hours. Yet since the end of the Second World War, our productivity has declined, and where we were once one of the most productive countries in the OECD, we are now one of the least productive. The (relative) stability and growth experienced in GDP in recent years has come not through productivity gains but increasing hours. Essentially, the economy is being propped up by Kiwis working longer hours. That is obviously unsustainable. There are a finite number of hours available to work and, no doubt, a finite appetite for working them all. Which means some rebalance is to be sought and productivity has to increase.
Just how this can be done has no doubt perplexed finer economic brains than ours. What we do know is that an increase in productivity aids the effective utilisation of resources and can lower overhead costs, which helps businesses operate more smoothly and position themselves for growth. Or achieve a bigger profit. And we also know that facades can help with that. More on that soon. First, let's talk about the importance of wellness.