The Employee Advantage

September 1, 2024
Employees should be seen as investments rather than costs, argues a professor at Columbia Business School. The business mantra of "putting customers first" has been around long enough for its weaknesses to show, states Meier, whose academic specialty is the intersection of behavioral economics and corporate strategy; the emphasis on customers has blinded many leaders to the value of their own employees. Meier emphasizes that he is not opposed to good customer service but believes that it is both possible and necessary for companies to broaden the focus to include their employees. If employees feel they are being treated mainly as costs to be squeezed, their dissatisfaction will eventually impact customers and therefore profits. Meier provides many examples of disenchanted employees doing the minimum possible in order to collect the paycheck while avoiding any innovations, new thinking, or special effort. Some will even make anonymous posts on social media, which can seriously damage a company's reputation. Conversely, Meier also examines cases in which companies have benefited from proper engagement with employees. His research suggests that workers want training and advancement possibilities, recognition and reward for achievements, and the opportunity to interact with colleagues. Many companies know more about their customers than their employees, he notes, but the tools used to gather information on customers can easily be adapted to improve employee communication. Meier acknowledges that some companies are profitable even though they treat their employees with disdain, but he identifies them as organizations with little public interface. Throughout, he offers lessons for leaders at every level in an organization, expressed in plain, accessible language. Blueprint for a balanced, sustainable business model, backed by solid research and relevant case studies.

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October 14, 2024
Companies flourish when they prioritize employees, according to this persuasive debut guide. Columbia Business School professor Meier draws on case studies to illustrate the fiscal benefits of treating workers well, recounting how Best Buy CEO Hubert Joly’s decision to give employees more autonomy and expanded benefits boosted employee engagement, which in turn increased the company’s revenue and market share. Meier makes clear that raising wages pays dividends to employers, noting that turnover at PayPal fell by over 10% after the company gave every employee stock options and increased both base pay for entry-level workers and contributions to employees’ health insurance plans. However, businesses must also stay attuned to other factors that influence employee satisfaction, Meier contends. She suggests employers should embrace collaboration, grant workers autonomy, set a vision for the company that encourages employees to feel their work is meaningful, and ensure tasks are difficult enough to stimulate employees without overwhelming them. Though suggestions to give workers purpose and autonomy are fairly standard, the wealth of real-world examples provides vivid demonstrations of such policies’ advantages. This hits its mark. Agent: Jeff Shreve, Curious Minds Agency.