Productivity Rebounds Amid Stabilizing Work Arrangements and Careful Business Practices
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Productivity grew 5.2% in Q3 2022, the fastest pace since Q3 2020, following 2.4% growth in Q2. This marks the first back-to-back quarters of productivity growth in 3 years.
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4 main factors driving productivity rebound Less turnover, more solid flexible work arrangements, increased focus on costs, and more careful investing.
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Return to office has negligible impact on productivity according to economist. Hybrid work arrangements now the norm, leading to fewer disruptions.
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No clear evidence that back-to-office mandates have shifted productivity much. In-person work expected to increase somewhat in coming years.
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Bosses now assessing workers more on productivity rates rather than presence in office. Rates doing well recently.