Productivity indicates economic growth by identifying resources spent on producing goods and services, and the value of what is produced.
Economic growth and improved living standards are the result of higher productivity.
In short, if everyone is sharing the same pie, and the pie is smaller each year, no one is getting a bigger piece. If we can make a bigger pie each year, there is more to share round – that is positive productivity.
Education, Training and Productivity
Education is one of the main factors that drives productivity. If workers have more knowledge and skill, they should be capable of producing more per work hour.
Education and vocational training should be transforming a student to be both capable and motivated in their work, with a curiosity and drive to pursue a career with passion and ambition.
Graduates who are educated to have such a positive attitude are a big part of what drives productivity. Training programs should be focused on both how and what is taught in order to ensure that skills are relevant and transferable.
The Link
There has always been a strong link between learning and productivity. Good training acquires and grows knowledge, motivates networking, increases experience, and grows skills.
As skills grow, productivity improves.
As productivity improves, the individual becomes more successful and their wealth grows.
As the individual’s wealth grows, the broader economy grows.
This also applies to the trades industries where acquiring more knowledge through training is directly related to greater efficiency and therefore increased productivity.
Excellent training does the following:
◾ It imparts, improves, or broadens technical skills.
◾ It strengthens experience and builds confidence.
◾ It motivates workers.
◾ It increases productivity through greater proficiency and efficiency and improves the quality of the work.
◾ It allows the individual to advance their work and economic status.
◾ It enhances and fosters networking opportunities that in turn create work opportunities to advance careers.
There is also strong link between individual success and skills development as it improves proficiency, improves productivity, and gives greater opportunities for careers advancement.
With greater success comes personal wealth growth and importantly this is reflected in the wider economy. The presence of highly skilled individuals significantly boosts economic activity and innovation in a region or community.
How this applies to the trades sector:
◾ A structured training program combines on-the-job experience with education; this allows those entering the trade to enhance their ability to become skilled professionals.
◾ Further education and training keeps experienced individuals up to date with the latest technologies in their field, safety regulations and industry best practices.
◾ Specialisation - by concentrating on and enhancing specific skills through further training, tradespeople can become highly valuable experts, increasing their marketability, improving their advancements and their wealth.
The Importance of Management Training for Advancement in Trades
Training in trades is often focused on improving the actual ‘work’ skills set. For the individual that has experience, a wide range of skills, opportunities for advancement are further increased through the development of their management skills. This initially may be in the area of a supervisory role but may lead to higher level career opportunities with training in management.
These skills are vital for the trades sector. Management skills are needed in order to make timely and sound decisions to move a business forward and improve efficiency, productivity and profits.
Management training can lead an individual from a hands-on role to a leadership role improving:
◾ Efficiency and productivity
◾ Project oversight and delivery
◾ Team leading
◾ Safety
◾ Better resource management and allocation
◾ Budgeting and meeting budgets
◾ Conflict resolution
Fostering a motivated and productive workforce to reach productivity targets and meet company goals.
Business success
Investing in education and training as an individual or a business is critical for promoting productivity, encouraging innovation and fostering long term economic growth and sustainability. For the individual it improves their career prospects, earning potential and flexibility in changing job markets.