Please boost your Plan to download papers
Productivity within Allstate Insurance Corp. - Essay Example
Author : schambergerbeth
Pages 8 (2008 words)
Productivity growth involves producing more or better quality output with the same inputs or producing the same output with less inputs, and thus at lower cost. In today's market a company can not survive without increasing productivity. Productivity plays significant role in any industry's ability to control costs and to accelerate growth and thus giving competitive edge over other companies.
Although the methods for achieving the same or better outcomes with fewer resources may vary, improved productivity will not occur unless it is pursued actively. Ineffective searches and wasting time looking for information is a cost of a company.
Many service economy jobs could enjoy substantial productivity growth through better application of information technology. For example, every time you check in at the airport, you wait several minutes as the agent frantically taps away at a hidden computer. Most of this time is wasted due to airline software's horrendous usability. With a better user interface, agents could process passengers much faster, which would immediately increase their productivity and save time for customers.
The answer, according to Nick Bloom, Raffaella Sadun and John Van Reenen, researchers at the Center for Economic Performance at the London School of Economics, is that American companies make much more effective use of information technology than European companies." (4)
The importance of incentives to employees on the productivity is well known fact. Even socialism has admitted it. ...