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How to Measure Employee Productivity in the Knowledge Economy

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https://doist.com/blog/measure-improve-employee-productivity/

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How to Measure Employee Productivity in the Knowledge Economy
The ways we capture employee productivity in the modern workplace need to evolve. Learn innovative solutions to measuring and improving how employees work.

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Measuring Employee Productivity

Measuring Employee Productivity

Fixing employee productivity in the industrial age, when most workers were handling machinery and it’s parts, was a tedious but doable process. The managers had to fix the people who were making mi...

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The Old Productivity Formula

The basic productivity formula(productivity= output divided by input) worked well in the industrial age as the output and input were clearly defined and measurable.

Today’s leaders...

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Quality And Quantity

While assigning value to the output of knowledge workers, we cannot simply measure the output like before.

Coders and doctors cannot be measured by the hour, as their output is not uni...

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Old and New Input

Earlier input used to be the raw material. In the knowledge economy, the input is a mixture of a diverse set of tasks, like attending meetings, creating a campaign, giving a presentation, retrainin...

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The Human Element

Employees also have other concerns that hamper productivity and efficiency. It may be personal problems, a lack of will to work, or any other factor not in a manager's control.

The mode...

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Shiny Happy People

Apart from the performance measurement and appraisals, management now has to take care of employee satisfaction and building strong, bonded teams.

A single-minded focus on results and outp...

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Positive and Virtuous

Leaders now have to demonstrate positive and virtuous practices like:

  • Showing compassion and empathy
  • Providing support
  • Being like friends
  • Focusing on me...

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One Man Army

In the new economy, knowledge workers have to manage themselves and have autonomy. They are no longer cogs in a wheel, but nodes in a neural network and their individual productivi...

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How To Manage A Team

  • Ensure the team is working on the tasks that align with their core competency. Maximize the time for meaningful work, while minimizing other activities.
  • Set up the measurement yard...

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The Perfect Team

Human beings are complex creatures, and merely getting the best people together in a team does not make it successful or efficient. Optimization of a team requires it’s team members to work togethe...

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Focusing on Keystone Habits

Demonstrating that the company cares and values its employees makes them feel respected and creates reciprocating behaviour.

Focusing on a single measurable outcome (a keystone habit) that ...

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SIMILAR ARTICLES & IDEAS:

Happiness

Happiness and satisfaction are subjective concepts – while for some of us monetary benefits can be equated with job satisfaction, some might strive for recognition of their hard-work and los...

Workplace Happiness defined

In a fundamental sense, workplace happiness comes when:

  • We enjoy doing the tasks assigned to us
  • We feel right about the people we are working with
  • We are happy with the financial benefits we get from the job
  • We have the scope of improving our existing skills
  • We feel respected and acknowledged at work

Importance Of Happiness At Work

Happy employees are compulsory for a growing business.

A study on organizational success revealed that employees who feel happy in the workplace are 65% more energetic than employees who don’t. They are two times more productive and are more likely to sustain their jobs over a long period of time.

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Diversity & Inclusion

Diversity & Inclusion

There is a significant relationship between competitive profit gains and diversity.

Companies with gender, ethnic and racial diversity are at least 15 percent more likely to experience...

5 Lessons for Managing D&I

  • Recognize the Shift in Global Understanding of D&I.  Diverse thinkers come from a variety of different backgrounds.
  • Build an Inclusive Environment. All people are encouraged to draw upon their unique experiences, perspectives and backgrounds to advance business goals.
  • Use Multiple Practices and Measures.  Have solutions in place to monitor and retain a talented and diverse workforce.
  • Ensure Leaders Model Diversity and Inclusion. It sets the tone for the rest of the organization to follow suit.
  • Recognize the Connection Between Innovation and D&I. Diversity and inclusion increase innovation and reduce business risk.

Cognitive Diversity

The concept of cognitive diversity focuses on diversity of thinking and is composed of four dimensions:

  • Perspectives. People represent situations in different ways
  • Interpretations. Through diverse interpretations, teams can discover multiple resolutions.
  • Heuristics. People resolve issues in different ways.
  • Predictive models. Some analyze, and others look for a story. Both are useful for discovering workplace solutions.

Rethinking the 8-hour workday

Rethinking the 8-hour workday

Knowledge workers aren't factory workers. There is no direct correlation between how much time they spend on the job and their output.

For knowledge workers, the 8-hour workday doesn’t make s...

Quality vs Quantity of Time

The structure of most working environments punishes people for efficiency and rewards them for looking busy. We need to shift our focus from the number of hours spent on something to the quality generated.

Build the Right Environment

To make a 3-hour workday feasible, design the right environment to make it possible.

  • Behavior is the result of environment. If you have many apps open, you’ll be more likely to be distracted.
  • Eliminate the need for willpower. Think of willpower like a bank balance. For every decision you make, you spend a unit. Design the right environment, so you avoid depleting all of your willpower.

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