The company should set a challenging but realistic goal.
What is productivity?
Productivity, in a formal sense, is the efficiency with which an organization transforms input—such as labor, materials, equipment, and capital—into an output—goods, and services. However, it is no longer restricted to calculating input-to-output ratios. Increasing productivity essentially just means being more efficient.
Since 1947, the U.S. corporate sector has been able to create nine times more goods and services with only a little increase in labor hours thanks to productivity gains. An economy may create and consume more goods and services for the same amount of effort when productivity is growing.'
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