I recently saw a Ted Talk that explained that the overall productivity of Western nations has been in decline throughout the Western world since the 50’s. Between the 1950’s and 1980’s, productivity grew at around 5% per annum. However, since the 1990’s productivity has declined and is now steady at around 1% per annum.
Productivity is a measure of the output produced from an input. For instance, the amount of carrots produced per hectare of land or the amount of value generated from an hour of work.
‘The level of productivity is the single most important determinant of a country’s standard of living, with faster productivity growth leading to an increasingly better standard of living’ – Economic Policy Unit.
When productivity grows at 3% per annum we double the standards of living every generation. That means our children will most likely be twice as well off as their parents. But when productivity grows at just 1% per annum, as we have now, it takes three generations to double our standards of living.
Our standards of living are arguably the highest they’ve been in the history of human kind, but have we hit a point of diminishing returns? Or have we just not determined where our next leap in productivity will come from?
Many organisations with many social creatures working together seem to struggle to produce more for less. Perhaps the need for measurement and accountability above output results in people placing effort in the wrong areas?
Individuals and businesses big and small have clicked onto the idea that a productive team is not necessarily a group of people that work in the same field, but an assortment of folks representing different industries and demographics working toward a common goal. A coworking community allows for cross-field inspiration, collaboration and fresh perspectives.
Around 2.3 million people ditched the traditional method and plugged in at a shared office last year – and GCUC (The Global Coworking Unconference Conference) projects this is to grow to 5.1 million by 2022.
When we formed Utility – The Solution Hunters Collective, we wanted to provide our clients with a breadth and depth of services that would compete with our larger counterparts. But we wanted to do this with fewer people, fewer overheads and more innovation.
So, instead of filling desks with infrastructure and finance consultants or engineers, we decided to open it up to like-minded, passionate individuals. Local talent we could tap into and collaborate with to find better solutions, together. The agglomeration of ideas allows us to find even more solutions than we thought possible.
More than a shared office space, The Coop is a place to share ideas, challenges, solutions and a cold brew after a good day’s work.
Our barn come building is nestled amongst honey dealers, art keepers, natural wonders and the historic Chinese Village – quite the concoction, we know. As well as a collection of great minds, one has access to all of life’s necessities including kitchen, Wi-Fi, coffee and dumplings.
Would you like to co-work with us? Pop in and meet the team.
Coworking statistics source: https://gcuc.co/2018-global-coworking-forecast-30432-spaces-5-1-million-members-2022/