Labour productivity biggest contributor to competitiveness: survey
Modern infrastructure, government support and foreign direct investment were considered less important.
CHELMSFORD, Mass.—Labour productivity is the most important factor in achieving manufacturing success, according to a new global survey commissioned by workforce management firm Kronos, Inc.
Modern infrastructure, government support and foreign direct investment ranked in varying degrees after labour productivity in the study conducted by IDC Manufacturing Insights.
Some 74.7 per cent of all respondents agreed that a high level of labour productivity is very or extremely important for achieving manufacturing success.
Brazil, Mexico, and Spain scored the highest regarding labour productivity, with 82 per cent in all three countries noting it to be very or extremely important. China (66 per cent), France (66 per cent), India (68 per cent), and Germany (68 per cent) scored relatively low.
Brazil respondents ranked the need for modern infrastructure the highest, with 88 per cent rating it as very or extremely important, while only 66 per cent in the U.S. agreed on modern infrastructure’s importance.
Respondents in Mexico rated access to foreign investment the highest, with 70 per cent citing it as very or extremely important. Brazil, India, and Spain also ranked it highly.
Only 12 per cent of respondents in Canada though access to foreign direct investment was key to manufacturing competitiveness. Germany had 16 per cent and the U.S. posted 18 per cent, respectively.
China ranked government support for the manufacturing industry the highest, with 82 per cent rating it as very or extremely important, and 48 per cent of U.S. respondents agreed to the same.
68.2 per cent of all respondents said training and continuous improvement of the existing workforce was the best way to improve workforce productivity.
Investment in technology followed with 63.3 per cent.
Both developed and emerging economies are impacted by a shortage of skilled production employees, with 68 per cent in Brazil, 36 per cent in China, 22 per cent in Germany, 44 per cent in Mexico, and 26 per cent in the U.S. agreeing to they experienced a shortage.