TED Talks Daily The case for good jobs — and why they're good for business too | Zeynep Ton
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Aug 30, 2024 Join Zeynep Ton, an MIT management professor passionate about enhancing job quality, as she tackles the pressing need for better wages and working conditions for essential workers. She eloquently discusses how investing in good jobs not only uplifts employees but also boosts company performance, citing successful examples like Costco. Ton advocates for recognizing low-wage jobs as dignified and valuable, emphasizing that happier workers lead to enhanced productivity. Her insights challenge the status quo, showcasing a pathway where both people and businesses thrive.
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Janet's Struggle
- Janet, a retail manager, struggled with low pay and unpredictable schedules, needing a second job.
- Her inconsistent hours led to turmoil in her personal life and difficulties at work.
Customer Frustration
- Customers yelled at Janet due to long checkout lines caused by understaffing and inexperienced workers.
- New employees made mistakes, like stocking incorrect products or leaving expired items, further impacting customer experience.
Hidden Costs of Low Wages
- While companies aim to reduce labor costs, they incur expenses through rehiring, retraining, lost sales, and wasted resources.
- These inefficiencies are prevalent in labor-intensive service industries, often mistaken as the only way to control costs.