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That is an enormous productivity dividend.
Once the migration from the old technology to the new starts to peak, this transitional productivity dividend can then be expected to wane.
While the latest advances in automation may allow societies to produce goods with increasingly dazzling rates of productivity, the key question society faces is what to do with this productivity dividend.
How liberating would it be if we could think a little differently about how even small chunks of it could be allocated in ways that do not compromise the financial returns reasonably expected to sustain retirement incomes of fund members and contribute a sustainable social, environmental and productivity dividend to the nation?
For example, PBMA could be re-structured as a two-stage process wherein an efficiency or productivity dividend must first be delivered from disinvestment options before new investments can be considered in the second stage.
When coupled with the risk that released resources will be reclaimed by fund-holders as an efficiency or productivity dividend (rather than reallocated to fund investment options within the programme budget), it is not surprising that advisory/working groups would first seek an increase in their budget allocation or to shift costs to other programmes.
Similar(54)
Under his leadership, Alcoa became a case study at business schools for the proposition that a company's investments in technology can reap large productivity dividends and enhance workplace safety.
So long as spending picks up, he says it does not matter if comes in the form of increased hiring, spending on productivity or dividend payouts.
The need to cover pension shortfalls could prompt businesses to reduce spending on items as varied as equipment that boosts productivity and dividends that deliver income for shareholders.
Giving people back the time to do work that drives the company's success will pay huge dividends by raising productivity, increasing productive output and reducing burnout.
This passion can yield superb productivity and pay dividends in retaining and motivating staff.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com