New productivity initiatives are being developed for Barbados for 2018 and beyond.
The Productivity Council, with financial assistance from the European Union, is developing the initiatives, which will focus on multi-factor productivity measures and assessment tools for re-programming corporate enterprises and assisting macro-economic policy improvement.
The new initiatives for improved micro and macro-economic management will be launched at a workshop, this Thursday, January 25, at the Lloyd Erskine Sandiford Centre, Two Mile Hill, St Michael, from 11:30 a.m.
Currently, Barbados utilises labour productivity statistics, which seek to measure productivity based on the input of labour (that is, employee hours worked). The multi-factor productivity measures will allow for more holistic assessment of an organisation based on the analysis of multiple inputs and the commensurate end-results or outputs.