TED Talks Daily What makes a job "good" -- and the case for investing in people | Warren Valdmanis
Jan 6, 2022
Warren Valdmanis, a social impact investor, emphasizes the importance of investing in employees over merely cutting costs. He argues that a 'good' job encompasses more than just pay; it requires fair treatment and job security. Drawing on examples like the fitness industry, he highlights how purpose-driven companies foster loyalty and enhance employee satisfaction. Valdmanis also critiques traditional private equity practices, advocating for business models that prioritize long-term growth through supportive work environments.
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Impact Fitness's Success
- Chris Kleba's Impact Fitness prioritized worker investment over cost-cutting.
- This approach fostered a welcoming gym environment, leading to higher retention and profitability.
Short-Term Focus Pitfall
- Investors often prioritize easily measurable short-term profits over long-term value driven by employees.
- This focus on immediate gains can lead to detrimental cost-cutting, especially in labor.
Creating Good Jobs
- Create good jobs by prioritizing fair treatment, promising futures, psychological safety, and purpose for workers.
- This approach, backed by data, leads to increased productivity and better companies.