Managerial Analysis in Labor Productivity and Utilization: New Methods in Modern Labour Relations

Abstract

Labour productivity is a key measure of economic growth and stability of business environment in an economy. Firm-level labour productivity indicators reflect the effectiveness of labour utilization, labour cost and revenue accumulation, and serve as a central tool for business analysis. Global economic developments, globalization and economic integration affect labour productivity measures and methods in different ways. Number of factors of labour productivity and replacement is rising in line with advances in business relations and technologies. This article studies the emerging methods, factors and other external effects influencing on labour productivity and labour market conditions, studies the recent shifts in labour productivity on cross-country basis and proposed recommendations to keep pace with labour analytics in business.

Keywords: Labour productivity, labour input, labour productivity.