I'm a leader in private equity and see a simple fix for America's job-quality crisis: actually give workers a piece of the business | Fortune
Briefly

I'm a leader in private equity and see a simple fix for America's job-quality crisis: actually give workers a piece of the business | Fortune
"The new American Job Quality Study, conducted by Gallup and developed by Jobs for the Future, The Families & Workers Fund, and the W.E. Upjohn Institute for Employment Research, aims to measure what makes a job "good." It looks at five things: financial security, safety and respect, opportunities to grow, a voice in decisions, and a manageable schedule. By that definition, only around 40 percent of American workers have quality jobs."
"Many companies don't even measure employee engagement or quit rates. And what isn't measured certainly isn't managed. We routinely see companies that have such high turnover that they rehire their entire frontline every few years. Inevitably, the impact of all this churn spills into other areas like safety, given that less experienced workers are far more likely to get hurt."
A construction operator spent 40 years operating heavy machinery, feeling disrespected, financially stagnant, and routinely fighting over wages and whether the lunch hour was paid. The American Job Quality Study measures five job dimensions: financial security, safety and respect, growth opportunities, a voice in decisions, and a manageable schedule. Only around 40 percent of American workers meet those quality-job criteria. Many companies fail to measure employee engagement or quit rates, and failures to measure correlate with unmanaged turnover. Some firms rehire entire frontlines every few years, increasing inexperienced-worker injury risk. Workers in quality jobs show better health and life satisfaction, while businesses face productivity, safety, and recruiting costs when job quality is low.
Read at Fortune
Unable to calculate read time
[
|
]