Various factors have contributed to our poor productivity growth:
- slow or no adoption of new processes and technologies to enhance efficiency
- underinvestment in machinery, equipment, and technology
- lack of innovation to enable the creation of new products and technologies
- lagging workplace re-organization and worker training
The EU, in close partnership with industry and other levels of governments, is working on a strategic three-pronged approach to address the productivity growth challenges faced by Europe:
- education and awareness of productivity
- productivity enhancement tools
- policies to promote and enhance productivity and innovation