THE PRODUCTIVITY AWARDS OPEN FOR ENTRIES NOVEMBER 1, 2018
The level of productivity is the most fundamental and crucial determinant of a standard of living and economic growth. Increased productivity allows people to get what they want faster, or to get more of what they want in the same amount of time.
Supply rises with productivity, dropping real prices and increasing real wages; it lifts people out of poverty and allows them to focus on efforts beyond mere survival.
So we created the Productivity Awards with that in mind, to drive positive change that will effect us all.
We want to recognise the organisations that are taking action to close the productivity gap in the UK, that value high performance amongst and strive to develop staff. There is a productivity gap in the UK but thousands of businesses are excelling, by saluting these businesses The Productivity Awards aim to:
• Inspire a competitive and productive United Kingdom.
• Promote productivity across all industries.
• Raise awareness about the role of productivity in growing and strengthening our economy.
• Increase the United Kingdom’s competitiveness globally.
WHY CELEBRATE GREAT PRODUCTIVITY IN THE UK?
There has been negative press about productivity in the UK. Output per hour worked in the UK was 15.1% below the average for the rest of the G7 advanced economies in 2016. This is known as the productivity gap.
The productivity gap is a term used to describe the fact that output per worker employed in the UK remains well below that of many of our major international competitor countries. Historically, UK labour productivity has grown by around 2% per year but since the 2008/2009 recession it has stagnated and the productivity gap has widened.
The Productivity Awards are here to recognise the most productive organisations to inspire others so the UK can close this gap.