Understanding the factors which influence the performance of human resources is essential to execute effective human resource management. In the mainstream literature, educating and training human resources are two main factors which determine the human resources productivity. This paper is intended to investigate the effects of education and training, along with several other factors, on the productivity of human resources in several manufacturing firms by examining their periodical data. The results revealed that education level, physical capital, research and development activities, export, and wage rate positively affect human resources productivity. Moreover, an increase in training expenditure of the firms had a negative effect on productivity. Results of experimental analysis declared that the type of ownership was not an important determinant of labor productivity. In fact, no significant difference was found between labor productivity in the private firms and public ones.