Added value per £1 payroll: A new approach to measuring performance

This is the first of several articles by different authors on a new approach to measuring the efficiency of the human contribution at work. The chief virtue of the method lies in its simplicity and also in the ease with which the coefficient may be calculated from information readily available in existing records. It can be applied to small work groups, to departments, or to companies, even to whole industries and the national economy. It can be the means of comparing efficiency between different working groups or the performance of one group at different times or under different conditions.