{"id":2102,"date":"2015-08-04T13:32:02","date_gmt":"2015-08-04T13:32:02","guid":{"rendered":"http:\/\/my-brains.co.uk\/jackross\/?p=2102"},"modified":"2015-08-04T13:32:47","modified_gmt":"2015-08-04T13:32:47","slug":"government-publishes-productivity-strategy","status":"publish","type":"post","link":"https:\/\/my-brains.co.uk\/jackross\/government-publishes-productivity-strategy\/","title":{"rendered":"Government publishes productivity strategy"},"content":{"rendered":"<h2>A plan to improve the productivity of UK businesses has been published by the Treasury.<\/h2>\n<p>The policy document identifies 2 key areas to stimulating productivity in the UK: long-term investment and a dynamic economy.<\/p>\n<p>Among the measures included in the strategy are:<\/p>\n<ul>\n<li>the government aims to increase business investment by lowering personal and business taxes, and providing more generous capital allowances<\/li>\n<li>the strategy looks to increase the skills of the UK workforce by creating 3 million new apprenticeships by 2020, introducing an apprenticeship levy on large firms and supporting the university system<\/li>\n<li>the government has committed itself to upgrading the country&#8217;s transport, energy and digital infrastructure<\/li>\n<li>according to the document, lower state welfare, reforms to planning permission and more employee benefits are essential to enhance the competitiveness of the UK economy.<\/li>\n<\/ul>\n<p>Recent data from Office for National Statistics showed that labour productivity measured by output per hour increased 0.3% in Q1 2015 year-on-year, the fastest annual growth since Q1 2012.<\/p>\n<p>However, hourly economic output continues to lag behind pre-recession levels and has not risen above its post-crisis peak in Q3 2011.<\/p>\n<p>John Cridland, director general of the Confederation of British Industry, said the &#8220;ambitious&#8221; plan would &#8220;help our economy move up another gear&#8221;.<\/p>\n<p>However, Ben Willmott, head of public policy at the Chartered Institute of Personnel and Development, said that the measures &#8220;only scratched the surface&#8221;:<\/p>\n<p>&#8220;We have a high proportion of people in low-skilled and low-paid jobs by international standards and an equally high degree of over-qualification with too many employees unable to use the skills they have because of poor leadership and people management, inadequate work organisation and poor job design.&#8221;<\/p>\n<h3>5 ways to make your business more productive<\/h3>\n<p>While it&#8217;s essential that government takes measures to improve the productivity of the economy as a whole, there are several ways business owners can improve the efficiency of their company:<\/p>\n<ul>\n<li>introducing new technology such as cloud computing, accounting software and high-speed broadband<\/li>\n<li>making your employees feel valued is crucial to maintaining a happy and productive workforce. Provide regular constructive feedback and introduce incentives<\/li>\n<li>owners of small businesses don&#8217;t have the time or expertise to micromanage every task. Trust your teams and delegate the jobs that you are unable to do<\/li>\n<li>think about the essential processes involved in running your business. How can these be improved?<\/li>\n<li>investing in training will advance the skills of your employees and result in a more efficient and capable workforce.<\/li>\n<\/ul>\n<p><strong><em>Talk to us about improving the efficiency of your business call our team of Chartered Accountants on 0161 \u00a08324451 or email <a href=\"mailto:info@jackross.co.uk\">info@jackross.co.uk<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A plan to improve the productivity of UK businesses has been published by the Treasury. The policy document identifies 2 key areas to stimulating productivity in the UK: long-term investment and a dynamic economy. Among the measures included in the strategy are: the government aims to increase business investment by lowering personal and business taxes,&hellip;&nbsp;<a href=\"https:\/\/my-brains.co.uk\/jackross\/government-publishes-productivity-strategy\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">Government publishes productivity strategy<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":""},"categories":[3],"tags":[109,57],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - 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