produktivitetsbenchmarking

Productivity is a measure of how efficiently inputs are converted into outputs. In economics, productivity most often refers to labor productivity—output per hour worked—but it can also refer to total factor productivity (TFP), which captures output growth not explained by measured inputs such as labor and capital. Growth in productivity is a central driver of increases in living standards, since it implies more goods and services produced with the same or fewer resources.

Measuring productivity involves comparing outputs to inputs. National accounts commonly use GDP as a proxy for output and hours worked or employment for labor input; capital stock or depreciation can stand in for capital input. TFP is the residual after accounting for measured inputs and reflects effects from technology, innovation, efficiency, and institutions. Data limitations include quality adjustments, price changes, and the presence of informal or shadow activity, which can bias comparisons across countries or sectors.

Key drivers of productivity include technological progress, capital deepening (more or better capital per worker), skills and human capital, management quality, organizational processes, and efficient allocation of resources. Policy and institutional factors such as competition, property rights, infrastructure, and education systems also shape productivity outcomes. Common strategies to raise productivity encompass automation and digitalization, process improvement (for example, lean or Six Sigma), upskilling and training, better data analytics, and stronger innovation ecosystems.

Productivity has broad implications for wages, employment, and economic inequality. While higher productivity generally supports higher living standards, transitions driven by automation or policy changes can affect labor demand and job quality. Measurement challenges and sectoral differences mean productivity analysis benefits from a careful, nuanced approach.