There is an article in Fortune Magazine that complements one of the links in my last blog posting. The article can be found here:
http://management.fortune.cnn.com/2013/12/12/better-jobs-wages-costco/
In it Anne Fisher talks about the book "The Good Jobs Strategy: How the Smartest Companies Invest in Employees to Lower Costs and Boost Profits" by Zeynep Ton. The book follows a decade of research into the management of different companies, specifically companies that make a profit and still pay their employees well. I urge you to read the article (and the book, which I plan to). One thing that stands out is the four common traits across all the companies, specifically the fourth one which calls for building slack into staffing. This concept, where management errs on the side of more staff than less and allows staff the ability to be more efficient, is one that if more major companies could utilize could go a long way to reducing our unemployment. Imagine if more companies focused less on reducing labor costs and more on ensuring the maximum efficiency of their staff (and their customers experience). While some businesses think that if they have too much staff it could lead to diminishing returns. However, by having more staff, more customers can be assisted and tasks that were unable to be completed during busy periods (like less routine, but still important, maintenance or time consuming customer outreach) can be done. It is not a strategy for all businesses, but one that perhaps more should consider.
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