HBS Managing the Future of Work cover image

HBS Managing the Future of Work

Worker welfare: From theory to tangible good

Oct 9, 2024
Anant Nyshadham, co-founder of the Good Business Lab and a professor at the University of Michigan, dives into the intersection of worker welfare and business success. He shares insights on integrating worker welfare into corporate strategies and highlights successful initiatives like soft skills training for women, which boosts productivity. Nyshadham discusses the tangible benefits of investing in employee training and the need for better support systems for gig workers, advocating for evidence-based practices that elevate both worker conditions and company performance.
41:15

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Quick takeaways

  • Investing in worker conditions is essential for enhancing employee welfare and driving overall business success.
  • Targeted training, such as soft skills development, can significantly boost workplace productivity and subsequently improve financial performance.

Deep dives

Dual Approach to Worker Investment

Investing in workers is depicted as a critical factor for both enhancing employee welfare and driving business success. Companies are encouraged to view worker investment as a fundamental component of their operational strategy, rather than a mere philanthropic endeavor. By addressing persistent issues through targeted investments in skill development and optimizing work environments, firms can simultaneously improve employee satisfaction and financial performance. Such an approach emphasizes the importance of listening to worker needs and structuring initiatives that are genuinely beneficial to personnel.

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