SS1: ECONOMICS - 2ND TERM
Firms & Industry | Week 14 Topics
Firms & Industry (Business Organisation) | Week 25 Topics|1 Quiz
Population Theory I | Week 33 Topics
Population Theory II | Week 43 Topics
Population | Week 53 Topics
Population Distribution | Week 64 Topics
Population Census | Week 73 Topics|1 Quiz
Labour Market | Week 83 Topics|1 Quiz
The Nature of the Nigerian Economy | Week 94 Topics|1 Quiz
Agriculture | Week 104 Topics|1 Quiz
Efficiency of Labour
Efficiency of labour is the ability of labour to increase output without increasing the quantity of labour.
Efficient labour will lead to an increase in the number of goods and services produced. An increase in efficiency of labour will result in an increase in output of labour.
Factors Affecting the Efficiency of Labour:
1. Education and Training: The level of training received by a worker will go a long way towards increasing the efficiency of labour.
2. Efficiency Management: When efficient management is in place in any organization, it will go a long way towards improving the efficiency of labour.
3. Appropriate Incentives: This includes such things as car allowance, overtime, housing scheme, bonuses, health care, etc. All these incentives will bring about efficiency of labour.
4. Level of Technology: High technology will increase the efficiency of labour.
5. Attractive Wages: When the salary of a worker is attractive it will motivate, boost, or promote the efficiency of the worker.
6. Promotion: Frequent promotions of workers in any organization can lead to an increase in the efficiency of labour.
7. Job security: Job security and other forms of security improve the efficiency of labour. If a worker is sure of job continuity and has been insured against industrial accidents, he will definitely put in his best and this will increase productivity.
8. Intelligence of the Workers: Highly intelligent workers are more efficient and make fewer mistakes compared to less intelligent workers.