A focus on productivity is vital for any forward-thinking business wanting to make the most of its resources, maintain and raise profits, and ensure its future health through initiatives such as high-quality recruitment and retention practices that support employee wellbeing.
The global pandemic has brought about unprecedented changes to the way firms operate. Aside from the devastating human health impact of COVID-19, the global economy has been significantly disrupted, forcing the business world to adopt new models and fundamentally changing the way we live and work.
The question of how to drive productivity is especially important for international finance centres such as Jersey that compete for business on a global level.
As well as supporting efforts made by the finance sector in Jersey to remain competitive, higher productivity growth is essential for the world economy as a whole.
Our work with the Centre for Economics and Business Research (Cebr) to analyse finance sector productivity in Jersey revealed that working with clear productivity measures can lead to positive business growth.
This thought leadership paper explores a number of ways to measure productivity evidenced in case studies and insights from Jersey’s finance industry.