Publication: Fintech Finance
Figures released today confirm that productivity amongst UK financial services has taken a sharp downturn over the last 5 years. Output per hour in financial services now lags 22 percentage points behind levels in the US, as the productivity puzzle continues to flummox decision makers in business and government alike.
The International Comparison of Productivity, released today by the Office for National Statistics (ONS), shows that whilst output per hour in UK financial services was higher than the US, Germany, Italy and France in the pre-downturn period, the picture is now almost completely reversed. According to workplace management experts Condeco Software, the UK can stride towards a more productive future by embracing the possibilities that technology provides for more flexible and collaborative working.