Labor Productivity as an Important Factor of Efficiency: Ways to Increase and Calculate

Hüseynli İ.

21st International Symposium on Production Research (ISPR) - Digitizing Production System, ELECTR NETWORK, 7 - 09 October 2021, pp.444-451 identifier identifier

  • Publication Type: Conference Paper / Full Text
  • Doi Number: 10.1007/978-3-030-90421-0_37
  • Country: ELECTR NETWORK
  • Page Numbers: pp.444-451
  • Azerbaijan State University of Economics (UNEC) Affiliated: Yes

Abstract

The paper examines the impact of the formation of an innovative market that responds more quickly to the growing needs of modern society and the use of advanced technologies and equipment on labor productivity, analyzes various aspects of labor productivity growth and its calculations as one of the most important statistical indicators of economic development. It has been determined that increasing labor productivity to achieve economic efficiency can be successfully achieved through the transition to an innovative economy based on new technologies and the mobilization of all production resources. An indicator characterizing the relationship between productivity, production costs and production volume has been identified.