Definition
A measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.
Productivity is computed by dividing average output per period by the total costs incurred or resources (capital, energy, material, personnel) consumed in that period. Productivity is a critical determinant of cost efficiency.
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Cutting Costs to Create Big Savings
Get paid what you're worth and spend less than you earn. Make sure you know what your job is worth in the marketplace, by conducting an evaluation of your skills, productivity, job tasks, contribution ... Read more
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