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Today's Mantra for Employees: More, More, More!

Feature Contents
Top of Feature

1. Employees Are Close to the Breaking Point
Money is indeed a great motivator.

2. Productivity and Cost Chart

3. HR's Push for Productivity
Creating a high-performance workplace takes flexibility, training, and the right incentives. HR also has to pay attention to the toll absenteeism and stress can take on productivity.

Related Topics

Total Quality Management

Behavioral Training

Strategic Planning

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Productivity and Cost Chart

How productivity, output, labor costs and compensation are changing.

Productivity and costs: Revised 2003 annual averages (Seasonally adjusted annual rates) Productivity in the United States is growing at its fastest continuous two-year pace since 1949-51, according to recent figures from the Bureau of Labor Statistics. For businesses, the 4.7 percent average annual rate for 2001-2003 is predicated on a 4.9 percent growth in 2001-2002 and a 4.5 percent increase last year. Last year, output grew by 3.7 percent while companies scaled back on hours by 0.8 percent to produce the end result of 4.5 percent. With hourly compensation lagging at a 3.3 percent increase, unit labor costs contracted by 1.1 percent, placing American businesses in better shape to compete in the global economy. Percent change from previous year
SECTOR	Productivity	Output	Hours	Hourly compensation	Real hourly compensation	Unit labor costs
Business	4.5	3.7	-0.8	3.3	1.0	-1.1
Nonfarm business	4.4	3.7	-0.7	3.2	0.9	-1.2
Manufacturing	5.1	0.1	-4.8	5.5	3.2	.04
Durable	7.7	2.0	-5.3	5.4	3.1	-2.1
Nondurable	1.9	-2.2	-4.0	5.9	3.5	3.9
Source: Bureau of Labor Statistics. Revised fourth quarter seasonally-adjusted annual rates of productivity change as measured by output per hour of all persons.

Workforce Management, May 2004, p. 42 -- Subscribe Now!

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