587. Should Companies Be Owned by Their Workers?
Freakonomics Radio
Building a Desirable Company Culture for Employee Retention and Satisfaction
Creating a culture of joy and positivity through financial benefits such as profit sharing can lead to exceptional employee retention and satisfaction. Companies like Newcor, known for their safety record and employee treatment, are attracted to businesses with established positive cultures. Even without fully retaining the original employee ownership program, Newcor's efforts in creating a similar structure have resulted in minimal employee turnover, with only retirements accounting for attrition post-acquisition, showcasing the success of their approach.
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