Investing in Employee Welfare for Corporate Success

Companies around the world are struggling to fill open positions, while millions of unemployed people look for work. What's going on? Zeynep Ton, professor at the MIT Sloan School of Management, says that organizations need to start offering better jobs. While old-school management thinking argued for paying workers only as much money as the market dictated and squeezing every last bit of efficiency out of them to maximize profits, the 21st century requires a new approach. This starts with higher wages but also includes more predictability and flexibility. In the wake of the global pandemic that brought essential workers to the forefront, Ton explains what companies have done - and can do - to create more good jobs in society.