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The Efficiency Analysis of Measures to Improve the Labor Productivity

Author

Listed:
  • Liliya B. Sungatullina*

    (Kazan Federal University, Kremliovskaya str, 18, 420008, Kazan, Russia)

  • Diana V. Neizvestnaya

    (Kazan Federal University, Kremliovskaya str, 18, 420008, Kazan, Russia)

  • Ekaterina I. Kadochnikova

    (Kazan Federal University, Kremliovskaya str, 18, 420008, Kazan, Russia)

Abstract

The present paper substantiated the need to analyze the implementation of measures to increase the labor productivity in companies in accordance with strategic objectives of businesses. It defined possibilities of using instruments of financial mathematics for the creation of analytical information on changes in the net profit, net present value, discounted payback period, and the profitability index of costs. It considered measures to increase labor productivity within the framework of the lean manufacturing concept. Economic calculations were carried out to determine the effectiveness of introduction of the individual lean production elements in one of the largest Russian oil companies: The introduction of small-scale mechanization and the integration of round checks; and the utilization of the fund standardization and visualization. Practical aspects of determining the effectiveness of measures aimed to increase the labor productivity based on principles of the production. It analyzed the impact of measures to increase the labor productivity on key technical and economic indices of the company’s activity: Increase in the oil production and growth in sales proceeds due to the reduction in downtime, changes in the number of personnel, and reduction in oil losses. The main approaches to the formation of efficiency criteria were identified: The analysis of using labor resources and the evaluation of efficiency of obtaining general income and profits that allowed developing and making managerial decisions.

Suggested Citation

  • Liliya B. Sungatullina* & Diana V. Neizvestnaya & Ekaterina I. Kadochnikova, 2018. "The Efficiency Analysis of Measures to Improve the Labor Productivity," The Journal of Social Sciences Research, Academic Research Publishing Group, vol. 4, pages 260-266, 11-2018.
    • Handle: RePEc:arp:tjssrr:2018:p:260-266
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    References listed on IDEAS

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    1. Urban Jermann & Vincenzo Quadrini, 2012. "Macroeconomic Effects of Financial Shocks," American Economic Review, American Economic Association, vol. 102(1), pages 238-271, February.
    2. Abreu-Ledón, René & Luján-García, Darkys E. & Garrido-Vega, Pedro & Escobar-Pérez, Bernabé, 2018. "A meta-analytic study of the impact of Lean Production on business performance," International Journal of Production Economics, Elsevier, vol. 200(C), pages 83-102.
    3. Sven-Vegard Buer & Jan Ola Strandhagen & Felix T. S. Chan, 2018. "The link between Industry 4.0 and lean manufacturing: mapping current research and establishing a research agenda," International Journal of Production Research, Taylor & Francis Journals, vol. 56(8), pages 2924-2940, April.
    4. Urban Jermann & Vincenzo Quadrini, 2012. "Macroeconomic Effects of Financial Shocks," American Economic Review, American Economic Association, vol. 102(1), pages 238-271, February.
    5. Yépez, Carlos A., 2017. "Financial conditions and labor productivity over the business cycle," Economics Letters, Elsevier, vol. 150(C), pages 34-38.
    6. Hartley, Peter & Medlock III, Kenneth B., 2008. "A model of the operation and development of a National Oil Company," Energy Economics, Elsevier, vol. 30(5), pages 2459-2485, September.
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