Productivity is defined by the formula of outputs divided by Inputs for a specified period of time.
A common definition of productivity is the ratio of input volume to output volume. In other words, it assesses how effectively an economy uses labor and capital as production inputs to generate a certain level of output.
Organizations can detect performance gaps by starting with performance benchmarking. You can compare prior results to current standards and continuously update the standard for better performance by tracking metrics and KPIs inside your company.
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