Productivity is the buzzword of the moment, the much vaunted solution for businesses fretting over thinner margins and trouble hiring. But as scheduled hikes in levies and tighter quotas on foreign manpower roll out onto a tight labour market, productivity gains - whether from better trained workers or use of technology - can't come fast enough for businesses. Caroline Lim, director of ISES, said that most companies still believe that there is a tradeoff between becoming productive and satisfying customers. "But there are enlightened businesses that know otherwise," she adds. Recent measures of customer satisfaction in the retail sector - one of the most labour-needy service sectors - appear to illustrate her point.
The Business Times