Understanding How Business Leaders Contribute to the UK 'Productivity Problem'- An Exclusive Interview with Interim Operations Expert, Paul Dakin.
In case you have missed it, the 10th anniversary of the Lehman Brothers Bank collapse recently occurred that signalled the 2008/09 financial crash. This has led lot of soul searching about UK productivity puzzle which comprises the zero growth of productivity within the British economy since the crash & its current low levels relative to other nations.
On a macro level productivity is hard to understand, but the one thing that can be agreed on is that productivity puts the life into living standards. History makes this very clear. Since the start of the industrial revolution pay & living standards have increased 15-fold since 1750. It is no coincidence that the UK experience since 2008 has been more painful with the “lost decade” & counting since 2008 resulting in a flat-lining/reduction in living standards.
But why has UK relative productivity performance been so poor?Continue reading