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Graham Twaddle, CEO at Corporate Modelling, comments on UK productivity following latest GDP figures

Graham Twaddle, chief executive officer at Corporate Modelling, on UK productivity in light of the latest GDP growth figures:

“It’s encouraging to see that the UK economy and labour market are growing, but the bigger picture is more complex. In the latest set of data, UK labour productivity decreased by 0.3% in the third quarter of 2013. This shows that although the economy is producing more jobs, productivity is lagging behind.

Greater innovation can help to resolve this mismatch, however. Not only is the vibrant technology industry creating new jobs in the UK, but it is also developing ways to help our workers produce more. For instance, workforce management software is already helping workers to make better use of their time by allocating specific tasks to those with the relevant skills. As a result, tasks are completed more quickly and to a higher standard, employees are happier and more motivated, and workers are given the chance to focus and develop in the areas where they excel. No software is going to cure Britain’s economic hangover overnight, but technology will certainly have a key role to play in future proofing our workers and businesses for the years to come.“

This was posted in Bdaily's Members' News section by Corporate Modelling .