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TED Business

The case for good jobs — and why they're good for business too | Zeynep Ton

Oct 7, 2024
Zeynep Ton, a professor at MIT Sloan and co-founder of the Good Jobs Institute, champions the transformative power of fair wages for essential workers. She argues that categorizing every job as a 'good job' enhances employee satisfaction and productivity. Highlighting examples like Costco, Ton illustrates how investing in employee well-being leads to sustainable business success. Moreover, she calls for a shift in focus from just recruiting new talent to nurturing existing staff, promoting growth through fair compensation and meaningful training.
17:14

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Quick takeaways

  • Investing in existing employees, rather than solely on recruitment, enhances productivity and reduces turnover rates for businesses like Costco and Sam's Club.
  • Creating good jobs requires a supportive work environment alongside fair pay, ultimately benefiting both employees and company performance in the long run.

Deep dives

The Importance of Good Jobs

Many essential workers, despite their critical roles, face challenges such as low wages and poor working conditions, often leading to a cycle of poverty and lack of dignity. For instance, a full-time hourly manager named Janet struggles to provide for her family due to her unpredictable work schedule and insufficient income, which often forces her to juggle multiple jobs. This situation exemplifies a systemic issue that affects not only workers like Janet but also the businesses themselves, as understaffing leads to longer wait times for customers and ultimately reduced sales. Good jobs are not merely about higher pay; they also require a supportive work environment that values employees and encourages productivity.

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