Here Tim Ringo, author, speaker, board advisor, and senior executive, writes exclusively for Business Matters about the importance of productivity and how the sudden need for flexible working proves to be a bonus for people performance.
The pandemic crisis has unleashed a quiet revolution that is transforming our ability to finally address declining people productivity. For the past ten years we have been in the longest period of declining productivity since measurements began over 100 years ago. Economists are stumped to understand why this is the case. Recently, I spent time researching this phenomenon to understand the causes and define proven solutions by applying my 30 years’ experience designing and running large scale people and technology transformation programmes.
Among the conclusions I came to, one of the key elements was the importance of the workforce experience inside an organisation. How is work done, who does it, and why. I came
Factory activity has continued to decline this month, but at the slowest pace since March as manufacturing appears to shrug off a surge in coronavirus cases.
Output dropped in ten of the seventeen manufacturing sub-sectors followed in the CBI’s industrial trends survey, with aerospace leading the falls.
October’s monthly order book balance, the difference between factories reporting a rise or a fall in orders, is -34, which compares with -48 last month. It is the best reading since March.
Manufacturing was hit hard in lockdown, but since then it has recovered more quickly than services and construction. It was only 8.5 per cent below its pre-pandemic levels in August, according to the Office for National Statistics. Services was down 9.6 per cent and construction 10.8 per cent.
“Conditions remain tough in manufacturing, with output and orders still down on the quarter, albeit to a lesser degree,” Rain Newton-Smith, the CBI’s