Title: Mexico Records Lowest Labor Productivity in a Decade, Tim Cook’s Trick Boosts Apple’s Performance
In 2021, Mexico witnessed a significant decline in labor productivity, reaching the lowest level in the past decade. According to the Global Index of Labor Productivity of the Economy (IGPLE), the country experienced a reduction of -6.4 percent compared to previous years.
The National Institute of Statistics and Geography (Inegi) has attributed this decline in productivity to the deterioration of economic activities in recent months. A concerning revelation from Inegi’s data suggests that at least 14 percent of employees are actively disconnected from their work, leading to reduced productivity.
Moreover, a staggering 61 percent of employees in Mexico report feeling exhausted at work, further hampering their efficiency. Such statistics highlight the urgent need for improved human talent management strategies among companies.
Recognizing the importance of enhancing productivity, Apple’s CEO, Tim Cook, has implemented a trick to boost the performance of its employees. Cook believes that productivity can be increased by focusing on prioritizing tasks among team members rather than overburdening a single individual.
In line with the advice he learned from the late founder Steve Jobs, Cook emphasizes delegating tasks to team members whenever feasible. This approach allows more tasks to be completed efficiently, ensuring that crucial tasks are taken care of promptly, while others are effectively distributed among the team. Cook also stresses the significance of saying “no” to tasks that could hinder overall productivity.
The success of Apple, which recently reached a market valuation of $3 trillion, serves as a testament to the effectiveness of this approach. Cook’s strategy optimizes time management and encourages leaders to handle multiple responsibilities without compromising productivity.
While the labor productivity situation in Mexico remains challenging, Cook’s trick provides valuable insights for companies and leaders striving to improve productivity within their teams. Proper implementation of such strategies can lead to better results, not only for the individual but also for the entire organization.
With labor productivity being a crucial economic indicator, its enhancement is vital for sustained economic growth, competitiveness, and an improved standard of living. It is paramount for companies across sectors in Mexico to explore innovative approaches and optimize human talent management in order to reverse the declining trend in productivity.
By learning from successful examples like Apple’s, companies can aim to boost efficiency, maximize productivity, and ultimately contribute to the economic development of Mexico.
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