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Understanding productivity trends in Australia

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The latest OECD statistics may indicate that Australia’s productivity has grown in terms of GDP per hour worked since 2006. However, what these statistics do not reveal is how Australia has fallen behind competitors, thanks to expensive and unproductive workers, and laws that prevent businesses from addressing the issues.

Business Insider Australia recently published the top five fixes for the worst productivity mistakes. The top tip was for businesses to consider investing in the right tools regardless of the cost, for every part of the business.

Technology investment is emerging as an attractive option for Australian businesses seeking to boost productivity as well as address underlying issues such as absenteeism and labour management. Recent reports indicate that businesses across Australia are increasing their technology spending, with the retail sector leading the way in seeking opportunities for growth without major additional costs.

The workforce time and attendance management system from Mitrefinch Australia is an excellent productivity tool that not only monitors employees’ clocking in and out times but also collects attendance information for decision makers to analyse and find better ways to increase productivity.

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