Labor productivity is a measure of the efficiency of workers' work in a certain period of time. In the era of national development, when Vietnam is facing many challenges such as global competition, the need for innovation and international integration, labor productivity becomes a decisive factor in the ability to maintain and develop the economy.
To improve labor productivity, it is indispensable to have synchronous solutions from human resource training policies, encouraging the application of technology in production, administrative reform, to building a creative and motivating working environment.
Mr. Nguyen Trung Thanh, Sales Director of Long Phuong Group, said: To improve digital technology, the unit has used data management, production processes to save depreciation costs, raw material costs... Through the digital transformation process, the company has also applied digital technology, issues from design, product identification. In addition, Long Phuong continues to apply digital technology to launch products with intelligence. From there, restructuring people, machines... reduces labor and instead uses system management to shorten the process of bringing product value.
As one of the leading enterprises in the textile industry in Thanh Hoa province, Tien Son Thanh Hoa Group Joint Stock Company (located in Bim Son town) has implemented many effective solutions to increase labor productivity and improve product quality over the past time. One of the most important solutions that the company has applied is to invest in modern technology, by equipping automatic weaving machines and advanced industrial sewing machines. This not only helps to increase productivity, but also reduces the rate of errors in production, ensuring better product quality. The use of automation technology also helps the company save time and production costs.
According to Mr. Trinh Xuan Luong, General Director of Tien Son Thanh Hoa Group Joint Stock Company, to optimize profits even when revenue does not increase, the only way for businesses is to increase labor productivity, reduce intermediaries and sign direct contracts with brands. Businesses with enough resources can increase productivity by 5-7% through technical innovation and investment in automatic machinery, as well as applying digital technology to reduce indirect labor. When they have good technology, businesses can sign direct contracts with partners in the US and Europe without intermediaries. For small and medium-sized enterprises, it is necessary to improve management, organize production, and encourage ideas to improve productivity.
From an expert perspective, Associate Professor Dr. Vu Minh Khuong, National University of Singapore, said that labor productivity is an extremely important factor, determining the strength of an economy as well as the future development of a country. Labor productivity is a synthesis of three factors, the first is investment in equipping workers, the second is the skills and qualities of workers, and the third is total productivity. These are three important factors in the digital age that must be well equipped in terms of knowledge, digital technology and effective information data so that workers' skills can be updated and improved. Moreover, the characteristics of labor productivity have the potential to develop very quickly in the digital age.
