productivity

  

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.


Use productivity in a sentence

  • Knowing the productivity levels of all of your employees will help you to figure out who to keep and who to let go.

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  • The productivity of the individual was unmatched in the department so we decided to keep him during the lay offs.

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  • My company was doing great in the area of productivity and we were selling more than we had initially even though.

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