Forbes June 20, 2024
Productivity is a much watched but often misunderstood business metric applied to the workforce. Too many leaders imagine technology investments to be a silver bullet that will turbocharge productivity, but the record is mixed:
- A slow productivity growth rate over the past two decades. Since the release of the iPhone in 2007, productivity has stalled in the US, growing at an anemic 1.5% annually. This rate compares poorly with the 2.7% growth rate seen from 1947 to 1973 and the 2.8% from 2001 to 2007, a period when use of the internet likely buoyed productivity growth — but only temporarily.
- Quarterly volatility that seems counterintuitive. Economists look at labor productivity in terms of just two types of measurable inputs:...
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