What’s needed is a new business norm that says all workers should share in the success of their companies, with government playing a supporting role, nudging things in the right direction. No surprise then that after decades of soaring profits and stagnant wages, American business faces declining employee engagement, loyalty and productivity growth and declining workforce participation. In the age of “maximized shareholder value”, the corporate view – widely embraced if rarely given voice in public – is that a paycheck at prevailing market wages is all the incentive workers need and all the compensation they deserve. What’s curious, however, is how infrequently the same logic is used when talking about the pay of frontline employees who actually produce the goods and services sold by their companies.
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