Q50. Write short notes about labor productivity.
Ans. It is same as Input-Output ratio. It measures the efficiency of individual worker. It is an index of efficiency and a sign of effectiveness in the utilization of men resources.
Labor productivity= Standard Time/ Actual Time
Factors for increasing labor productivity:
- Employing trained and skilled workers.
- Placing a right type of man on the right job.
- Train the new and old worker.
- Job evaluation before placement of worker.