For a long time, Europeans consistently out-produced workers in the US, but for more than a decade, Europe has failed to keep up the pace, posting smaller productivity gains almost every year for more than a decade.
Key data show that the disparity in productivity results at least partially from fewer hours worked by European workers. As recently as 2007, Americans worked five weeks longer than their counterparts in Europe, spending about 180 more hours on the job.
Although European manufacturing is keeping pace with that in the US, the European services sector is noticeably lagging, representing the bulk of the disparity in productivity.
Demographic differences such as the number of females and seniors in the work force and more spending on research and development in the US are other factors that help explain why Europe is having trouble keeping up.
To enhance competitiveness, Europeans are looking for ways to address the factors that are limiting productivity growth compared to the US in hopes of resuming leadership in that category and for becoming more competitive in the global marketplace.
You may think your business phone system is functional, but is it fully modern? In recent years, telecommunications technology has made major strides. A system that was perfectly serviceable ten years ago—or even five years ago—is now very out-of-date. more
Among all of the business software applications necessary for business operations, ERP is undoubtedly one of the most important. Making the wrong selection can have a disastrous impact on your accounting, manufacturing, and supply chain. With so much at stake, it is crucial to make a well-informed decision. more
Did you know that, according to Forbes, 86 percent of customers will pay more for a better customer experience? Customer satisfaction is always a worthy business pursuit, but to identify customer preferences and exceed expectations, you must keep pace with innovations in the technology your customers are using. more
Deciding which phone system is right for your business can be difficult. With our VoIP technology blueprint, discover the top 15 questions you should ask VoIP vendors before you make a buying decision. more