Abstract:

Global financial crisis had a severe impact in social and economic parameters internationally. In Greece, the impact of the recent economic crisis on growth, employment and income has led to a widespread decrease in salaries, an increase in the number of working hours and a dramatic increase in unemployment. One of the main reasons promoted was the country’s high salaries’ coupled with its low labour productivity. The purpose of the present work was to review the available data for labour productivity in Greece and to investigate changes in labour productivity which occurred during the recent economic crisis.  Data was extracted from various national and international databases.  The data presented in the present work indicate that for the first time in 2012 labour productivity in Greece exhibits a rising trend.  Labour productivity can increase with training, motivation, commitment and rewards. It appears that during the period of Bank crisis and limited access to investment, including investment for technology, Human resources management is a significant parameter for achieving increased competitiveness of the Greek economy.