Independent Member for Kiama Gareth Ward is reminding local small businesses and residents that today Tuesday 20th June 2023 is World Productivity Day.
Mr Ward said: “The theme for World Productivity Day 2023 is ‘A Chance to Set Goals’ that also focusses on lifetime aims and goals and encouraging one another to be the best version of themselves in the workplace,” he said.
“Staying productive and living with challenges is most affecting factor that are source of productivity. To promote productivity and related it with innovative tasks, every year World Productivity Day is celebrated on 20th June.
“Frederick Winslow Taylor was a well-known personality who is known as The Father of Productivity.
“Productivity is a measure of the rate at which output of goods and services are produced per unit of input (labour, capital, raw materials, etc.). It is calculated as the ratio of the quantity of output produced to some measure of the quantity of inputs used.
“Today is an important reminder about the value of productivity for local businesses across the Kiama electorate,” Mr Ward said.
“There are currently well over 5,000 small businesses which are an integral part of our local towns and villages across the Kiama electorate, forming an important part of the social fabric and a place where our local community bonds are strengthened.
“Many factors can affect productivity growth including technological improvements, economies of scale and scope, workforce skills, management practices, competitive pressures and the stage of the business cycle.
“Identifying and tracking productivity metrics can help companies manage and improve workforce productivity,” Mr Ward said.
“Productivity growth has been one of the primary drivers of increasing living standards for Australians.
“World Productivity Day which is happening today is an important reminder to celebrate and to begin conversations in the workplace and in our local communities about the value of productivity and how more Australians can share in the many economic and social benefits it provides,” Mr Ward concluded.
Click here to read more about 2023 World Productivity Day and read some handy tips about productivity.