Neo-Institutional and Behavioral Concept of Labor Productivity

Abstract

The presented study examines the neo-institutional and behavioral concept of labor productivity using an interdisciplinary approach.Aim. The study aims to conduct an empirical assessment of labor productivity using the fundamental provisions of the neo-institutional and behavioral economic theory.Tasks. The authors determine the attitude of workers to their labor productivity and analyze the results of a statistical sample survey using an interdisciplinary approach.Methods. This study uses analytical and content research methods, including a sample survey of workers, the results of which are processed using economic, statistical, and mathematical methods. Results. The surveyed workers show signs of labor (economic) and social inertia, which may be due to the dominance of informal institutions over the perception of labor and low efficiency of formal norms and rules that regulate labor relations in modern society. The authors propose a reformation of the institutions that provide benefits (including pension and medical benefits) to the working population and the citizens who do not declare income officially. This proposal is based on the assumption that greater responsibility of workers for their future improves the efficiency and effectiveness of their labor. The obtained results and conclusions presented in the study can be used in the development of federal and regional socio-economic programs and in the creation of personified approaches to employee motivation in organizations and enterprises in the real and financial sector of the economy.Conclusions. Labor productivity should be viewed not only as a result of the labor activity of workers, but also as the ability of an individual to use knowledge, skills, and abilities to achieve top performance, including in areas that ensure the most equitable distribution of socio-economic benefits.