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This forward-thinking book examines the potential impacts of the Covid-19 pandemic on productivity. Productivity and the Pandemic features 21 chapters authored by 46 experts, examining different aspects of how the pandemic is likely to impact on the economy, society and governance in the medium- and long-term. Drawing on a range of empirical evidence, analytical arguments and new conceptual insights, the book challenges our thinking on many dimensions. With a keen focus on place, firms, production factors and institutions, the chapters highlight how the pre-existing challenges to productivity have been variously exacerbated and mitigated by the pandemic and points out ways forward for appropriate policy thinking in response to the crisis.
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
Managing Your Scarcest Resources Business leaders know that the key to competitive success is smart management of scarce resources. That's why companies allocate their financial capital so carefully. But capital today is cheap and abundant, no longer a source of advantage. The truly scarce resources now are the time, the talent, and the energy of the people in your organization--resources that are too often squandered. There's plenty of advice about how to manage them, but most of it focuses on individual actions. What's really needed are organizational solutions that can unleash a company's full productive power and enable it to outpace competitors. Building off of the popular Harvard Business Review article "Your Scarcest Resource," Michael Mankins and Eric Garton, Bain & Company experts in organizational design and effectiveness, present new research into how you can liberate people's time, talent, and energy and unleash your organization's productive power. They identify the specific causes of organizational drag--the collection of institutional factors that slow things down, decrease output, and drain people's energy--and then offer a pragmatic framework for how managers can overcome it. With practical advice for using the framework and in-depth examples of how the best companies manage their people's time, talent, and energy with as much discipline as they do their financial capital, this book shows managers how to create a virtuous circle of high performance.
By anchoring your understanding of productivity in God's plan, What's Best Next gives you a practical approach for increasing your effectiveness in everything you do. There are a lot of myths about productivity--what it means to get things done and how to accomplish work that really matters. In our current era of innovation and information overload, it may feel harder than ever to understand the meaning of work or to have a sense of vocation or calling. So how do you get more of the right things done without confusing mere activity for actual productivity? Matt Perman has spent his career helping people learn how to do work in a gospel-centered and effective way. What's Best Next explains his approach to unlocking productivity and fulfillment in work by showing how faith relates to work, even in our everyday grind. What's Best Next is packed with biblical and theological insight and practical counsel that you can put into practice today, such as: How to create a mission statement for your life that's actually practicable. How to delegate to people in a way that really empowers them. How to overcome time killers like procrastination, interruptions, and multitasking by turning them around and making them work for you. How to process workflow efficiently and get your email inbox to zero every day. How to have peace of mind without needing to have everything under control. How generosity is actually the key to unlocking productivity. This expanded edition includes: a new chapter on productivity in a fallen world a new appendix on being more productive with work that requires creative thinking. Productivity isn't just about getting more things done. It's about getting the right things done--the things that count, make a difference, and move the world forward. You can learn how to do work that matters and how to do it well.
We study U.S. labor productivity growth and its drivers since the COVID-19 pandemic. Labor productivity experienced large swings since 2020, due to both compositional and within-industry effects, but has since returned to its pre-pandemic trend. Industry-level panel regressions show that measures of labor market churn are associated with higher productivity growth both in the cross-section and over time. Sectors with higher investment in digitalization, particularly in teleworkable industries, also experience higher productivity growth on average. There has also been an increase in business formation since the pandemic, but its impact on productivity dynamics will likely need more time to be reflected in the data.
With the introduction of policies to combat COVID-19, far greater numbers of employees across the globe—including those with limited job autonomy—have moved to undertake their entire job at home. Although challenging in the current climate, embracing these flexible modes of work such as working at home, including relevant investment in technology to enable this, will not only deliver potential organizational benefits but also increase the adaptability of the labor market in the short and longer terms. Although perhaps not the central concern of many in the current climate, “good” home-based work is achievable and perhaps even a solution to the current work-based dilemma created by COVID-19 and should be a common goal for individuals, organizations, and society. Research also has shifted to focus on the routines of workers, organizational performance, and well-being of companies and their employees along with reflections on the ways in which these developments may influence and alter the nature of paid work into the post-COVID-19 era. The Handbook of Research on Remote Work and Worker Well-Being in the Post-COVID-19 Era focuses on the rapid expansion of remote working in response to the global COVID-19 pandemic and the impacts it has had on both employees and businesses. The content of the book progresses understanding and raises awareness of the benefits and challenges faced by large-scale movements to remote working, considering the wide array of different ways in which the large-scale movement to remote working is impacting working lives and the economy. This book covers how different fields of work are responding and implementing remote work along with providing a presentation of how work occurs in digital spaces and the impacts on different topics such as gender dynamics and virtual togetherness. It is an ideal reference book for HR professionals, business managers, executives, entrepreneurs, policymakers, researchers, students, practitioners, academicians, and business professionals interested in the latest research on remote working and its impacts.
We examine reported productivity changes of workers over the course of the Covid-19 pandemic, which we validate against external metrics. On average, workers report being at least as productive as before the pandemic's onset. However, this average masks substantial heterogeneity, which is linked to job quality, gender, the presence of children, and ease of working from home. As the pandemic progressed, those who previously performed well at home were more likely to remain there. Building on these findings, we estimate factors affecting productivity outcomes across locations controlling for endogenous selection. We find that those in 'good' jobs (with managerial duties and working for large firms) were advantaged specifically in the home environment. More generally we find an effect of key personality traits - agreeableness and conscientiousness - on productivity outcomes across locations.
‘What you can do matters more than where you are. If you have the tools and resources to stay connected to your world you still can make a big difference.’ ** Every positive component of liberty that accompanies WFH also has engulfed complications. For example, when working from home, you have the freedom to establish your schedule. This freedom can be challenging because there is a possibility that your performance is not as satisfying as it should be, or as your employer expects, simply because of the unlimited freedom to do whatever you want, whenever you want. Whether you like to play, relax or work, it is in your control. Challenges are inevitable because WFH does not come with the traditional workplace cultural reinforcement that is essential for a smooth mental transition. You can enjoy a less stressful morning and evening because there is no daily commute involved. Yet that lack of daily commute can cause the mental transition into work mode to be harder. This transition is the crucial factor that keeps you working till late and finding the motivation to start your day. ** ** Creating boundaries is the only solution for every challenge stemming from unrestrained freedom. If this sounds restrictive to you than you have not yet realised that the beauty of these boundaries is that you are the creator of them. Neither this book nor I, at any point, are going to tell you when you should start working and when you should end your working day. Instead, we both will explore the opportunities to achieve high productivity from your working from home day. But, in the end, you are in control, and you will need to think about these boundaries and how to implement them. I would recommend that you create these boundaries like the highway rules. You might be thinking, why should these boundaries be like the rules of the road? Following road rules allow drivers to reach their destination safely, and in the same way, boundaries for working from home will help you to stay focused and productive. It will also help you to avoid the pitfalls of indefinite freedom. ** ** For better productivity, work must stay in the Workspace, and everything else must remain outside of the Workspace. I understand that everyone has a different amount of space and budget available in their homes, and, especially for those who share their home with others, it may be difficult to designate an entirely separate room or area as a Workplace, but it is not impossible. First, we must consider what is essential for setting up an ideal Workplace, and then we can work on individual budget and space constraints. ** **A successful entrepreneur and Working From Home dad, Jeffrey Hamilton who lives in a two-bedroom apartment with his wife and two little girls, tells the secret of his WFH success. ‘When I started my Business consultancy service from home, I invested in a desk that could be closed at the end of each working day. There was a strong reason to have such desk as it prevented me from putting my personal items in it when I was not working and to ensure my clients’ private and confidential information was not compromised. The greatest advantage of having this desk, however, was that it created a clear boundary between work and family time— when the desk was open it meant I was at work. My wife and daughters knew that when I was at work, they should not call me unless there was an emergency. They always waited patiently and supported my working environment. I also was extremely strict with my personal calls and only answered my phone outside of the desk’s opening hours.’ ** Download or get a paperback to read Jeffrey's story and other success stories of Working From Home Mums and dads....