GLOBAL PRODUCTIVITY – WHO’S DOING IT RIGHT?
Business truly is a global affair, and it’s fair to say that certain countries are leading the way in terms of efficiency and productivity. Longer working hours doesn’t always equal greater productivity, it’s often about working smarter, not harder. Now that most multinational corporations now have bases all over the world, it’s becoming increasingly important to be aware of cultural business trends and increasing productivity across the workforce.
Expert Market conducts an annual analysis of 35 of the world’s most productive countries, to ascertain which country has the highest financial return from the least number of hours worked. Productivity levels in this report ‘are determined as GDP per capita data divided by the average number of hours worked in the nation, with data used from the International Monetary Fund and the Organisation for Economic Co-operation and Development.’ So, what are the top 5 most productive countries and how do they achieve this status?
Luxembourg has led the way for two years in a row and has increased their productivity by 4% from last year’s rankings, so how is this tiny European nation topping the charts? The average worker in Luxembourg works 29 hours a week and earns double than that of a UK worker and works 3 hours less. Read more
Dynamic Business - 20 November 2018