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Overall labor effectiveness (OLE) is a key performance indicator (KPI) that measures the utilization, performance, and quality of the workforce and its impact on productivity. Similar to overall equipment effectiveness (OEE), OLE measures availability, performance, and quality.
Workforce productivity is to be distinguished from employee productivity which is a measure employed at the individual level based on the assumption that the overall productivity can be broken down into increasingly smaller units until, ultimately, to the individual employee, in order be used for example for the purpose of allocating a benefit ...
It is based on the Harrington Emerson way of thinking regarding labor efficiency. [ citation needed ] The generic form of OEE allows comparison between manufacturing units in differing industries. It is not however an absolute measure and is best used to identify scope for process performance improvement, and how to get the improvement. [ 3 ]
The labour market in macroeconomic theory shows that the supply of labour exceeds demand, which has been proven by salary growth that lags productivity growth. When labour supply exceeds demand, salary faces downward pressure due to an employer's ability to pick from a labour pool that exceeds the jobs pool.
The Egan Report, titled Rethinking Construction, was an influential report on the UK construction industry produced by an industry task force chaired by Sir John Egan, published in November 1998. [1] Together with the Latham Report , Constructing the Team , produced four years earlier, it did much to drive efficiency improvements in UK ...
In labour economics, Shapiro–Stiglitz theory of efficiency wages (or Shapiro–Stiglitz efficiency wage model) [1] is an economic theory of wages and unemployment in labour market equilibrium. It provides a technical description of why wages are unlikely to fall and how involuntary unemployment appears.
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The joint hypothesis problem is the problem that testing for market efficiency is difficult, or even impossible. Any attempts to test for market (in)efficiency must involve asset pricing models so that there are expected returns to compare to real returns. It is not possible to measure 'abnormal' returns without expected returns predicted by ...