New research from the Chartered Management Institute (CMI) claims that recently trained managers use on average 50 percent more of the structured management practices associated with increased labour productivity than those not trained within the last 12 months. The research, involving 940 managers, revealed that managers who received management training in 2018 used an average of 6 management practices, compared to an average of 4 practices for those who had received no management training over the same period. The impact of recent training on management practices can be seen across businesses of all sizes. (more…)

Around a quarter (26 percent) of British workers believe that January is their least productive month with the nation still recovering from the Christmas period, according to a new report from Hitachi Capital Invoice Finance. The report also claims that December is the second least productive month (14 percent) whist 32 percent surveyed suggested that they’re equally unproductive across the entire year. Residents of the Welsh capital Cardiff were found to be the least productive in January (34 percent) closely followed by Southampton (31 percent) and Sheffield (30 percent).

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A new IZA World of Labor report published today suggests that workers’ effort may be more responsive to wage incentives and therefore the efficiency costs of progressive labour income taxation larger than previously thought. A fundamental question in economic policy is how labour supply responds to changes in remuneration. The responsiveness of labour supply determines the size of the employment impact and efficiency loss of progressive income taxation for example. The economist Tess Stafford of the University of New South Wales, Australia, summarises a number of recent studies of independent contractors’ labour supply which confirm a key prediction of economic theory: workers work more (in fact, quite a bit more) when earnings are temporarily high.

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