Three things influence productivity: investment; a highly skilled workforce; and technology and innovation. All three are heavily dependant on the availability of skilled people.
Fact
Innovation is critical to advancing productivity and productivity underpins economic prosperity. (Australian Innovation Research Centre)
Innovation is the introduction or implementation of a new or significantly improved good or service; operational process; organisational/managerial process; or marketing method (8). A relatively small labour market such as Tasmania relies on technology, innovation and increased investment in plant and machinery to be more productive. The level and type of skills to achieve innovation and drive technology advancement are relative.
Increasing productivity in Tasmania aims ultimately to derive more from less. Formulating a skills strategy for Tasmania to increase productivity requires an unorthodox approach; as the population of the community continues to increase but a smaller proportion participate in the labour market. Tasmania’s current population and participation levels mean we must do more than target only those available to participate in the labour market and alternatively consider the aspirations of the wider community, encourage local community innovation and local advantage.
In this context, productivity should be seen as increasing wealth and well-being across the community and in the process use strategy to include as many people from the broad community as possible.
(8) Themes – Science and Innovation, Using Innovation, Science and Technology Statistics, Innovation, Information and Communication Technology (ICT) Statistics glossary, ABS
Tasmanian Skills Strategy
Increase Participation in Work and Community
