I was on an international panel for the World Talent Economy forum earlier this week to discuss the topic Sound Work and Economic Growth. Good work is a concept that is not used much these days; it is an old concept that focuses on the holistic nature of the employee.
From Wikipedia, the free encyclopedia: According to the International Labor Organization (ILO), “decent work includes productive work opportunities that deliver a fair income, workplace security and social protection for families, better expectations for personal development and social cohesion, freedom for people to express their concerns , organize and participate. in the decisions that affect their lives and equality of opportunity and treatment of all women and men. ”
The idea of decent work was a common concept when I first started in technology, but after the 1980s, the concept came to an end – a loss that not only adds to the Great Rising that is currently underway but also it also has a negative impact on productivity.
Let me explain why it is important.
What workers used to get
Decent work is not about matching skills, self-verification, or even a specific job. It focuses instead on the fairness, security, and social protection of workers. When I first entered the technology industry to work for IBM’s a subsidiary, IBM made every effort to ensure that I was cared for as an employee. For example, I was severely underpaid for my level, so for a while the company ensured that I received the highest increases (a sensible percentage) for anyone in my department. (This policy was not tied to my gender, even though the company was predominantly male at the time; I knew this because the women I worked with at the company were paid much more. same level than I was in the beginning.)
When a commitment to decent work was in place, firms rewarded employees such as subsidized food or even free food at work; subsidized services such as crèches for children; washing; assist with financial planning; and aggressive benefits associated with relocation. In addition, you were given a mentor, a pension to make sure you were covered during retirement – and the company paid for healthcare. These benefits were offset by a comparatively lower salary, but that delta was far less than the costs of the items covered by IBM.
We even had a fully equipped on-site gym, swimming pool, and various courts for everything from tennis to volleyball. There was also IBM University, and access to university programs from top schools like Pace University (where I got my CMA certificate).
The advantage for the company was that I could focus on the job at hand and not be gravitated by what we are now worried about as we seek out our jobs, our increasingly complex finances, and ultimately, managing retirement.
IBM also received very large employee loyalty in return. BMC was the only company to successfully recruit IBM employees. He achieved this by bidding to match benefits and salaries while at the same time providing a lower cost living area that was attractive and had great schools for children. BMC improved the benefits and lowered employee costs – but did not support salaries. And an employee had far fewer things to worry about.
How workers fare today
Since then, companies have been relentless more focused on lowering their costs. Pensions have gone from most parts, common facilities like gyms are uncommon, and employee share in rising medical insurance costs. Childcare is off the table, and even subsidized or free food is the biggest corporate exception to the rule.
These things which was once the glue that employees owned their firm. Without it, employees suddenly realized that the grass could be greener elsewhere. So, we are in the middle of the Great Rising.
We know that productivity increased during the pandemic, but at the expense of work / life balance. This loss has often forced workers to move to other businesses or retire altogether to take care of personal needs. (Many of these requirements were once covered by employee benefits in the relevant working days.)
We have improved the number of variations since then, but by continuing to underpay women, we have seen another problem: pay inequality. That is yet another reason for some of the workforce to focus on seeking new workplaces to end wage inequality.
Keep employees loyal and focused
It was a mistake to move away from the concept of sound work to focus too much on salaries and cost containment. While it’s silly to reimburse preventative maintenance on machinery, ignoring the need to minimize employee distractions (and stop looking at something) not only undermines productivity, but things fall such as The Rising from.
It’s time to visit again compensation and employee benefits with a focus on ensuring that employees get a good job so that they not only have a better work / life balance, but a much deeper connection with the company and its long-term strategic needs.
Copyright © 2022 IDG Communications, Inc.
Losing “decent work” leads to lower productivity for employees
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