The CBI launch new analysis, in partnership with McKinsey, that shows that increasing the proportion of ‘Magpie’ businesses with the skill and will to adopt readily available technologies and management best practices is proven to lift productivity and pay. The government adopts key recommendations in the 2018 Budget to help companies embrace technological change.
The UK needs more ‘Magpie’ and fewer ‘Ostrich’ businesses. Ostriches lack the capacity for technology adoption and management best practice, which limits the UK economy.
"The UK needs more ‘magpie’ firms with the skill and the will to find and adopt tried and trusted technologies and management practices"
If the UK had more firms behaving like Magpies, and fewer behaving like Ostriches, business and government could move the needle on the UK’s sluggish productivity growth.
If the UK’s least productive firms raised their productivity to their German equivalents it would be worth over £100bn to the UK economy