Productivity report

Productivity report
See also
Activity-based management Overall equipment effectiveness Managerial controlling Structural productivity Quality costs record Variable overhead efficiency variance Direct labor efficiency variance Costing system Workforce productivity

Productivity report is an official document that includes information on the examined productivity in the institution. It is a result of a study that measures the dependence between real output and the labour time needed for it, usually marked as "output per hour of work". Productivity report also identifies areas for possible productivity improvement, and furthermore it should "identify, quantify, and place in priority order possible cost avoidances and savings".

Examples of productivity reports

Productivity report, as a type of management reports, is supposed to help management examine the efficiency and effectiveness of the institution, but it is also helpful in tracking any problems. Here are two common types of productivity reports used in law offices:

• Timekeeper productivity report

It is a report based on time – it identifies which of the timekeepers is the most hard-working. This report shows the amount of billable and non-billable hours, uncollectible hours (that are charged off) and not billed hours (that are on hold), which can quickly reveal who is more productive. The most important thing this report should exhibit is the amount of billed hours in opposition to the amount of payments received. This report has various period options, for example it can be monthly, quarterly, annually, etc.

• Case type productivity report

It is a report based on case types – bankruptcy, criminal, personal injury, etc. This productivity report reveals the profitability of the cases, so that the management, for example, could decide on which areas they should concentrate to become more profitable.

Productivity reports in US

In United States there is an official productivity report provided by the Bureau of Labor Statistics of the U.S. Department of Labor. It is released quarterly and the data are published in official press releases and in BLS journals, as well as they are available on the official website: www.stats.bls.gov. It is important to remember that this productivity statistics mostly cover only the manufacturing sector of the economy. The productivity measures in this report “reflect the joint effects of many influences” that include:

• changes in technology,
• capital investment,
• level of output,
• utilization of capacity, energy, and materials,
• the organization of production,
• managerial skill,
• the characteristics and effort of the work force.

Advantages of Productivity report

A productivity report is an important tool in assessing the efficiency of a business or organization. A productivity report can provide a clear picture of the current productivity levels, identify areas of improvement and set goals for the future. The following are some of the advantages of a productivity report:

• It helps managers and owners to identify areas of improvement and take corrective action. It allows them to identify areas of inefficiency and make necessary changes to increase productivity.
• It can provide insight into the labor costs associated with production, which can be used to improve profitability.
• It can help identify the most efficient methods of production and the personnel most suited to carry out the tasks.
• It can provide useful information for resource allocation and budgeting decisions.
• It can serve as a benchmark for performance and help to motivate employees to reach higher levels of productivity.
• It can provide valuable data for comparison with competitors and other organizations.

Limitations of Productivity report

A productivity report is an important tool for managers to measure their organization's performance, but there are several limitations to consider when using one. These include:

• It is difficult to accurately measure the productivity of an organization or its employees due to the complexity of the tasks they are involved in. It is hard to calculate the total amount of output produced, because it is impossible to measure the value of each contribution.
• A productivity report may not accurately reflect the actual impact of the organization’s efforts, as there may be other factors that contribute to the overall performance that are not taken into account.
• The productivity report may be skewed if the data collected is not representative of the entire organization, or if the data is not collected in a timely manner.
• A productivity report may not provide enough detail to identify areas of improvement or areas that need to be addressed. This can limit the usefulness of the report.
• The report may overlook the impact of organizational culture on productivity, which can have a significant effect on the overall performance of the organization.

Other approaches related to Productivity report

This list includes other approaches related to Productivity report:

• Benchmarking – it is a process of comparing the performance of an organization to the performance of other peers in the same industry. This comparison helps to understand how productive an organization is and to identify areas where performance can be improved.
• Industry Analysis – it is a process of researching the industry and the related markets in order to gain better insights into the current and future trends. It helps to understand the industry dynamics, key performance indicators, and the competitive landscape.
• Quality Control – it is a process of ensuring that the product or service meets the established quality standards. It helps to identify areas where the process can be optimized, leading to an increase in productivity.
• Process Streamlining – it is a process of optimizing the existing processes and eliminating unnecessary steps. This helps to reduce the time needed for the production and increase the output.

In summary, Productivity report is an official document that includes information on the examined productivity in the institution. Other approaches related to Productivity report are Benchmarking, Industry Analysis, Quality Control and Process Streamlining, which help to identify areas where performance can be improved and to optimize the existing processes.

References

• Donnes C.T., (2016), Practical Law Office Management, Cengage Learning, p. 263-264
• Kramer H.S., (2001), Game, Set, Match: Winning the Negotiations Game, ALM Publishing, p. 55-56
• Roghanian P., Rasli A., Gheysari H., (2012), Productivity Through Effectiveness and Efficiency in the Banking Industry, "Procedia - Social and Behavioral Sciences", Vol. 40, p. 550-556
• Shim J.K., Lansner J., (2016), 101 Investment Tools for Buying Low & Selling High, CRC Press, p. 104

Author: Monika Ptasińska