If you're employing someone putting together sprockets on an assembly line, then yes, productivity may be the most important thing to you. If you are employing managers, designers, programmers, advertising folks... then maybe productivity is not your primary goal. Maybe getting the smartest work from them is more important than getting the greatest amount of output.
Personally, I'd rather have one brilliant, game-changing program/algorithm/policy/advertisement than one hundred mediocre pieces of output.