Productivity or Efficiency What Really Matters
Productivity and efficiency are two things that measure whether the goal has been achieved or not. Which one is necessary for the company has been a long-standing debate.
We discuss a few differences between the two and tell what is True Productivity.
Quality V/s Quantity
Productivity is the measure of the result that we have achieved i.e. the output while efficiency is whether the output achieved was expected or not. The output should be productive but it is important that it is efficient.
Smart Work V/s Hard Work
You take 50 hours to complete a task while your counterpart takes 30 hours. Clearly you are more productive than him but you make a lot of errors which doubles the cost of production while the other is efficient, does smart work and saves time as well as reduces the cost.
Achievement V/s How Big Your Achievement is
It is great that you perform and do something but do you know what is better, how big your performance is, and how that achievement matters to you and your company.
Clarified Measure V/s Raw Measure
Productivity is always raw as it is a measure of how much has been accomplished by us while efficiency is a refined measure that takes profitability and how the output helps our business to account.
What is Real Productivity?
If a person is productive and his output is efficient, then the business will always flourish. True Productivity is always the sum of productivity and efficiency. Both matter but efficiency is very necessary for something to be productive.
Thus Productivity + Efficiency = True Productivity