UK Productivity Insights 2013
UK productivity is 16% below the G7 average. What should companies do to close this gap?
Highland Insights White Paper
March 1, 2013
The Highland Group
Recent ofﬁcial ﬁgures from The Ofﬁce for National Statistics make for sobering reading. Every hour worked in America produces 26% more output than in Britain; Germany produces 22% more and in Italy 4% more. To put these ﬁgures in perspective the productivity gap as against the rest of the G7 has not been this bad since 1993. When measured by output per worker, the gap was even larger, at 21 percent. The rest of the G7 in other words is roughly a ﬁfth more productive than Britain.
The UK is in danger of sliding into being a low wage, low productivity economy. If we want to become more prosperous then productivity must increase so wages can increase.
>> Read the full report (PDF)