During the Budget George Osbourne, Chancellor of the Exchequer announced that Britain had left 'the age of irresponsibility' behind. In his speech Osbourne tackled one of the main issues facing UK businesses today, namely the productivity problem.
Speaking exclusively to HR Grapevine, Zee Hussain, Partner at Colemans-ctts and Head of the Employment Department, explains the issue.
“Productivity is the source of a society’s wealth and prosperity and accounts for differences in living standards, over time reflecting the skills of the workforce and, the capabilities of business. The likelihood of above inflation increases in the National Minimum Wage provides the opportunity to make more of the link between work organisation and improved productivity.”
“There are clear links between productivity and employee engagement which in turn influences levels of trust and attitudes towards cooperation. If employees don’t feel they’re being treated justly or their contribution recognised, this can undoubtedly have an impact on productivity.”
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