Busa encourages improved productivity
Boosting productivity is increasingly becoming critical as South Africa continues to show a negative trade balance and an ever-widening gap between wages and productivity, Business Unity South Africa (Busa) has said.
Economic growth and competitiveness were directly linked to productivity, and labour-related challenges, including education, labour relations and the general employment environment, had dipped into negative territory, the organisation pointed out on Wednesday.
“Increases in productivity translate into competitive companies and raise real incomes. There is a need to strike a balance between wage growth and productive output, while addressing wage inequalities and transformation in general,” said Busa CEO Nomaxabiso Majokweni.
In a statement expressing Busa’s support for Productivity Month, she noted that raising educational standards, implementing targeted skills development programmes and making the labour market more efficient have a direct impact on productivity.
This came as the Kagiso Purchasing Manager’s Index (PMI), which was broadly made up of critical indicators such as new orders, inventory levels, supplier deliveries and production, reversed the turnaround in the gains achieved in the past few months.
The seasonally adjusted PMI declined steeply by 7.4 points to 49.1 in September, falling below the key 50-point mark for the first time since March, and weighed down, in particular, by business activity and new sales orders.
The PMI was also reported to be lower than that of China and the Eurozone.
October marks Productivity Month in South Africa. The initiative was launched a decade ago by then Labour Minister Membathisi Mdladlana.
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