The purpose of this research is to inquire about the different considerations and perspectives that arise regarding the concept of productivity in the knowledge work context, as well as the main challenges that emerge in knowledge workers’ productivity management. A group of managers and workers from organizations in the knowledge-intensive services sector was interviewed. We resorted to content analysis to process the information, taking borrowing elements extracted from the systematic literature review for coding purposes. The perspectives among the interviewees regarding the concept of productivity diverge, and these differences are connected to the type of company and the role of the interviewee: manager or worker. The challenges reported include time management, complexity, heterogeneity, intangibility and task multiplicity, as well as the challenge for managers to set guidelines to measure and monitor productivity without affecting worker welfare. It becomes necessary to approach the concept of productivity from a holistic perspective, and to implement alternative managerial practices that take into account the nature of the work done, worker satisfaction and the diverse perspectives of stakeholders.