According to McKinsey, productivity is on the rise. Regaining historical rates of productivity growth would add $10 trillion to US GDP—a boost needed to confront workforce shortages, debt, inflation, and the energy transition.
What are some ways you can ensure you are part of the productivity movement?
Empower employees to do what they do best by removing obstacles to maximize engagement and productivity.
Remove any roadblocks that stand in the way of employees performing at their best; when employees feel satisfied and valued, their engagement and productivity will increase. Remember, the competition for top talent is fierce, and employees have many options. Demonstrate your appreciation for their hard work and dedication - this is the best way to ensure that your team remains intact at a time when employees are keeping their options open.
Listen to what employees want and align that with their goals and priorities.
It has become a hot topic of what benefits employees should or should not have with an emphasis on work from home. Companies like Disney are receiving pushback from employees to return to work in their offices. It is important to acknowledge that companies are composed of different individuals, employees included, who each possess their own individual desires and ambitions. Though the company's management might decide the general path and objectives of the business, the ideas and wishes of the employees should still be taken into account when making an eventual resolution. This is not to say when an employee mentions they want something, you jump. It means it is important to evaluate the overall situation and choose the best solution for both parties.
Engage in societal issues as business issues
Women recently have left the workforce in droves. It's no secret at this point that diversity, equity, and inclusion are important for overall productivity. According to McKinsey’s 2022 Women in the Workplace report, just 1 in 4 C-suite leaders are women, and only 1 in 20 are women of color. Studies reveal that improving social factors for people disproportionately impacted by inequity boosts overall health outcomes, boosts social well-being, and leads to a strengthened and productive economy.