What Makes A Good Productivity Metric?

In a prior column, we wrote about how measuring productivity can be viewed as a form of modeling and that all models are wrong, but some are useful. That discussion centered on the idea of ensuring that a productivity model was inclusive of multiple metrics and that those metrics covered the various facets of productivity and covered each facet reasonably well. In that article, we set aside the question of what makes a good individual productivity metric that can be combined with others into a (hopefully) useful model of productivity. In this article, we’ll share some things we consider when building an individual metric, including an example of a novel metric we built in the aftermath of the COVID pandemic.