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Increasing Worker Productivity

Question

Explain ways a firm could increase the productivity of its workers.

Category:

Firm Behavior and Strategies

Frequently asked question

Preview Answer

I. 🍃Introduction
- Explanation of the importance of improving worker productivity

II. Ways to improve worker productivity
A. Raise wages / performance related pay / commissions
- Explanation of how this can increase motivation of workers
B. Provide training
- Explanation of how this can increase workers' skills / efficiency
C. Division of labour by firm
- Explanation of how this enables greater specialisation
D. Buy capital goods / invest
- Explanation of how workers will be working with better equipment
E. Reduce working hours
- Explanation of how workers may feel fresher / more alert
F. Improve working conditions
- Explanation of how this can reduce stress
G. Subsidise workers' healthcare
- Explanation of how this can make them fitter / reduce days lost through illness
H. Working from home
- Explanation of how this can reduce stress from travelling

III. 👉Conclusion
- Summary of the ways to improve worker productivity
- Importance of implementing these strategies for the success of the business.

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