Factors That Can Affect Labor Productivity and GDP Growth
Labor productivity is known as the output that is received from each employee, and the labor productivity also shows the economic might of a country. The reason is that the GDP value that comes in an hour with labor productivity is out to test and countries that can ensure high GDP growth rate in an hour are considered as a super economic power country. There are many factors affecting labor productivity and a student seeking labor productivity homework help would be given assistance by our team.
Factors affecting labor productivity
The quality of fixed asset: Manufacturing companies should ensure that the machine investment is made and excellent manufacturing quality machines are installed. When a company starts upgrading the machines to the latest international level, the quality of output within an hour increases.
Skills of workforce: Talented workforce should be recruited and they should be given training for labor productivity to increase. Motivating employees for higher production is another method. Moral of workforce should be energetic for production to increase and manufacturing output to increase.
Discipline is another skill factor from workers that would determine labor production. There are cases when strikes happen when manufacturing should happen at peak output, and that would bring a halt to work. This would derail economic growth and can affect GDP growth rate. A student should know about factors that affect GDP growth rate when attempting labor productivity assignment help and can approach myhomeworkhelp.com to get professional help.
Fatigue can affect skill set of workers as they may not get enough rest and working conditions are harsh. Sometimes workers may be forced to work on high mercury summer days, and that can affect output as workers are at fatigue. We would cover more details about fatigue in labor productivity assignment help to the students.
Supplier’s reliability: Suppliers should supply high-quality input materials this determines quality of output. There are cases in which suppliers have submitted less quality raw materials due to some corruption fraud issues, and this can affect the sales of manufactured component. A black mark can affect the GDP growth rate of the country, and this issue would also be highlighted in labor productivity homework help submitted to student
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