Recommendations
For businesses:
Take a long-term approach to raising employee value added,
and make it a firm priority, working within the company and together in supply chains, local areas and sectors. Address areas like management skills, job design, innovation and investment.
Sector bodies should support firms in this endeavour.
For government:
Ask the Office of Budget Responsibility to report regularly and in-depth on the UK’s productivity performance, including sectoral trends and any government-inspired barriers, in the manner of the Australian Productivity Commission. With the support of business leaders, use this data to guide policy and address issues raised.
Simplify the support network for smaller and mediumsized firms to improve take-up and enhance productivity potential. This should focus on four areas: access to government procurement; UKTI’s role in supporting exports; simplification of business support, including for lower paying sectors, and access to finance.
Read our factsheet about Productivity for A better off Britain here