Not even close. In most jobs you get an hourly wage. All you get for working harder is to get screwed by your boss because they unfairly put more work load on you than your co-workers precisely BECAUSE you are working harder. So technically you are getting paid LESS if the metric is effort expended.
This is actually a key issue. Let's say you're a hair stylist or a barber. You service 6 clients in an hour instead of 3... you're going to earn more. However, if you work at a local fast food chain, or you work at another hourly wage job, your productivity is not necessarily rewarded with higher income. More likely they bring down the hammer and say that you're productivity doesn't match someone else's so if you want to keep your job, you'd better be more productive. You being more productive in a wage paying job, will in the vast majority of cases result in providing more profit for your employer (he/she may not need to hire someone else, or they benefit from your increased work) but that won't translate into higher income for you because the employer will say: "If I give it to you, I have to give it to everyone." so instead they 'may' thank you for being an exceptional worker and tell you they appreciate it, but it doesn't translate into increased monetary compensation.
US productivity led the world for years while wages remained stagnant. Workers noticed that the fruits of increased productivity all went to executives and shareholders. If it doesn't matter how hard you work then it doesn't matter how hard you don't. As a machinist for 23 years who went back to school to become a technology manager I saw both sides.
This video was like "we're not sure where all the gains from computerization went". Oh, I think we know that they went into the pockets of a very small group.
So if companies offer you stocks, a piece of a company, is that not reaping the fruits of your hard work? Everyone works hard, company does better, price of the stocks you own increases. Executives also don’t get paid millions in salary. Just millions in stocks.
Low morale, bad bosses, burn out, wages that don’t cover basics, no job security, no growth path, hostile work environment, ageism, companies that don’t want to hire, train or promote, take your pick.
All of this is the result of government policy and taxes. Employers don't want to give low wages and lack of growth... They are trying to fight the system themselves to get there but it's nearly impossible given the overwhelming government regulations and taxes. I'm a business owner. Trust me.
They're too important to talk to first hand sources, lmao. You think they wanna mingle with us or hear our side of the story, still? Find some independent creators like The Maverick of Wall Street, Perun, Money & Macro, etc. People who aren't legally beholden to shadowy (as in anonymous) investors. And if you don't think the investors are shadowy, who are they? Can you name them?
What I noticed most about this is the increasing wage gap and the disparity between the average worker and the top executives aren't discussed at all as a potential factor for slowing production. When workers feel valued they work harder, but for so long wage growth for workers has stagnated while we hear about massive bonuses in the tens of millions for a chosen few. Companies are more worried about benefiting investors than they are about benefiting their employees.
It's also about people being stuck in their old ways and not evolving. People have 0% creativity. Nobody wants to be competitive. Competition rises all boats. All they care about is how many millions and billions they make even if it means companies go out of business or get bought out. Investing in your workers and your workers invest in you and your workers will have my drive and creativity. When you have too many chiefs and not enough indians, everything goes south
I literally laughed when thay one guy said "If you're producing twice as much, you're likely making twice as much" 😂😂 I work my ass off and my pay went up 1.5% between 2022 and 2023.
@fasthowto Wow, I never would have thought of that! I work for a large company that made over $20B in profits last year... I'm a skilled worker that can barely afford to live in my city. Why shouldn't my employer pay me a wage I deserve?
@@ksieli1985 because that's not how the world works. That job doesn't exist so that you can get a paycheck, it exists because the company needs that job done. Jobs don't pay what the employee deserves, they pay what that job is WORTH. If you think you're worth more, then like I said - get a different job. It's not that complicated.
@@ksieli1985 also, if you can't afford to live in the city you're in, then stop voting liberal (because it's expensive) and move to a less expensive city. None of these things are complicated to figure out, they're just not what you (and millions like you) want to hear.
@fasthowto So, to solve my problem I'm to move from my hometown and away from my entire family, leave the job I have, and move to a smaller city, and find a better paying job... Hmmmm neh, guess I'll vote liberal so the government can tax and regulate entitled A-hole millionaires and billionaires and their businesses. I say bully the rich till they pay a living wage. But hey, you have you're way, I'll do it mine. :)
As proven in countries like Japan, working more doesn’t always mean getting more productivity. It has diminishing results past a certain point. Also you know… everyone broke af.
Especially in societies like Japan where presence time is rewarded over actually producing. For most low-security office jobs we’re finding that just one day a week is already plenty of face to face.
Higher wages More time off Retain productive employees instead of firing them 30 hour work week should be started in some job sectors 6 hour workdays versus 8 are better for many people more beneficial for parents, which humans have full energy for 8 hours straight no one does add more breaks on the job, more exhaustion = faster quit/leaving rate A few seconds or minutes of appreciating your employees can go a long way for them to keep the productivity/hard work going Here's my last 2 sense adding unnecessary stress, anxiety and exhaustion onto citizens isn't gonna make them more productive or want to put in more effort. Feeling taking for granted doesn't make people wanna go above and beyond.
@@Comeback180 Add more free birth control and more spaying and neutering. You don't need to be breeding if you are stressing and don't have the resources for another human's education and medical care.
We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
People believe their currency has the worth it does because they have no other option. Even in a hyper-inflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
You are right! I diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above 1.3m in net profit across high dividend yield stocks, ETF and bonds during this red season.
@@emiliabucks33 How can I reach out to this coach? because I'm seeking for a more effective investment approach How good is this person at portfolio diversification, particularly with regard to digital assets?
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. “Dawn Maureen Humphrey is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
"No one is sure why." Treating workers like disposable slave labor instead of with respect and with equal pay to CEOs. Everyone finally woke up during the pandemic and we can't and won't go back. Time to treat people like human beings instead of as slaves.
We will see, if a recession pushes unemployment up to 10%+ I have a feeling a lot of "empowered" workers are going back to saying "yes sir whatever you need" pretty quick.
@@link10909 Except almost all economists - we're talking in the range of 90% - believe that we've dodged a recession. What is more likely to happen is that as companies continue calling workers into the office, we're going to see a second wave of the "Great Resignation." Because wages aren't rising to meet inflation, workers are naturally less loyal to companies or positions, because why would you be loyal to a company that deliberately says they don't care about your wellbeing?
@@heychrisfox Economists are an interesting bunch of group think, soothsayers. They have predicted how many recessions accurately? Consumer debt is rising, and spending numbers remain deceptively high. In consumer led recessions people worry about losing their jobs so they cut spending and save. Companies experience less sales so they cut people. In an inflation led recession, people don't want to save because they will lose money by just holding it and they cant cut spending because even if they wanted to normal non-discretionary items are taking up those resources. GDP stays high for longer since buying a $10 dollar loaf of bread looks the same on paper as buying $10s of bread, meat, and cheese. The high GDP keeps stock confidence high, and the inflation keeps money in the equity markets resulting in higher markets for longer. Now how does this end? Well consumers will use up all their entire credit lines and be unable to pay. Bankruptcies will hit the bank/credit card industries, fear of more will cause them to tighten credit availability which will push a lot more people over the edge, that will roll into retail sales drop which will then cut those jobs jobs. Layoffs will result in the above classical recessions model. When might this start? Well student loan payments restart soon, a massive expense that many haven't budgeted for in years and is notoriously under considered by the debt holders.
@@link10909 That much is fair. I was speaking about the last couple years when economists and capitalists were doom-saying over the recession that never occurred. But the point you made about student loan payments restarting, yeah, I think that's going to be a major shock to the system that nobody is really talking about.
@@heychrisfoxidk where you got that from 90% lol literally every video ive seen on RU-vid with economists says the exact opposite. that we’re technically in a recession now. next year will be worse. wth are you talking about lol
"You get what you pay for." So you think that workers are nothing more than off-the-shelf products to be picked up at the local Walmart whenever more is needed?
@@fasthowtoYes. Thats literally how recruiting employees you post a job posting and get hundreds of applications (potential products to purchase). The company can then browse the shelfs, occasionally picking up various products and checking them out (interviewing), before deciding on one to checkout and buy (offer + employment)
@@ddk9467That's how hiring *new* employees works. That doesn't appear to be what OP is getting at. The fact of the matter is that when they were "picked up off the shelf", they agreed to do X job for Y pay. Now, they are reneging on that agreement.
The biggest factor causing the productivity slump is that most workers have seen pay cuts in terms of real pay (Covid era inflation outpaced any nominal wage gains). So it’s no surprise that if workers earn less every year they’ll be depressed and output will go down. I don’t see this changing until real wages rise significantly to make up for recent inflation. We need to see 30-40% bumps, like those recently achieved by unions in the airlines and shipping industries.
But if that happens, since CEOs and shareholders rabidly insist on making more and more money year after year forever, all prices will go up, and we'll be in the same situation as we're in now. This is how corporatism works in this country. The problem is, everyone in the US thinks this is capitalism and it's the best thing in the world. They've all been duped.
@@jesse7631 To fight inflation workers need to insist in COLA in all contracts and benefit programs public and private. That will put a crimp in the wage cut by inflation plans of the bosses.
They will just increase prices so the living standards won't change 😂😂 The reality is that the best way to fight them is for classified technology to be spread worldwide by doing that other countries can compete against US economy far stronger which will break the elites profits
Maybe its less with WFH and more with the fact the salary is not keeping up with all the essential costs such as healthcare, rent, mortgage, food. So why bother exerting more effort if you won't be reaping the rewards. People dont get paid enough
This video and many more to come will try to push the narrative that work-from-home needs to stop. It's just because commercial real estate is collapsing in all the rich people are upset about it they want us to get back in our wage cages
@elir5573 Then let the company fail as production keeps going down. Not to mention innovation stagnated, and then they're left behind compared to other companies that have workers that do want to produce more/innovate. It's really not that hard to comprehend unless you're cognitively underdeveloped. It's okay to be stupid I don't expect much from the vacuous education system 😂
What is the productivity level of a CEO? How does that compare to the productivity of a worker in a factory? Productivity measured in hours worked is just flawed. If the GDP is still growing and the population is declining, how can productivity be dropping?
Exactly! It can only mean that they're measure something else, if anything. However, there has been an increase on immigration to the US, maybe that is part of the reason.
In the measurement they simply divide gdp growth by the total hours work. If gdp is growing, but the amount of work hours has increased, then the productivity is declining
@@mopozuJIko that makes sense. But then that means that GDP has increased slower than hours worked. It would be interesting to test if fewer hours worked increases productivity, because it could be the case that a big increase in hours worked causes a drop in productivity (a self-fulfilling prophecy).
Personally, my productivity is down at work because I have too much to do. My workload was doubled last year when two coworkers left but only one of the positions was backfilled. The majority of the non-backfilled position's work was assigned to me. Now I'm too busy running around putting out fires to get anything else done. I'm working harder than ever, but achieving less of the metrics that are tracked.
After 3 decades of people getting more productive creating more wealth for corporations while getting no real increases in pay, we're burnt out. We have seen prior generations work hard their whole lives to end up working at Walmart at 70. We're not falling for it anymore.
High cost of living, high inflation, high rent prices, high mortgage payments, high car payments, high cost of food, goods, and fuel prices, but barely survivable wages to keep up with everything, take care of a family, or oneself who is single. That's why the Great Resignation still exists and will never go away. Companies that don't want to pay up, then their turnover rates will go up with it.
CNBC just proved these guys are out of touch, instead of insulting us by calling us lazy they changed the strategy by saying "productivity is low." We woke up to NO WAGE GROWTH. Wage theft is being committed by companies based on the extra profits these companies get. We're noticing them and we're becoming hopeless. The system is looking at productivity but not our wage losses, the diminishing power of our dollar. Productivity is given they just want to squeeze more sweat and blood out of us. I'm also seeing restrictions on our productivity by companies, they're stopping it also. I see it at my "Big Company", we don't meet numbers cuz we're understaffed, under paid, restrict us to low numbers to fail on purpose their daily goals. It's all rigged. This is just my experience.
They never mention the obvious problems like corporate greed is at an all time high and wages do not keep up. CEO’s and owners are pocketing so much and working people don’t get enough. They push more hours and expect more work which is not a direct correlation. Jobs are also expecting too much with not enough time or resources to work with.
It’s overwhelming watching this video.. People here in US working hard more than anywhere else in the world. As a matter of fact there’s no work life balance here.
There absolutely is work life balance in the US. In fact, it's fantastic. The issue is that the people complaining to the contrary are paying for their poor decisions of the past, and refusing to take responsibility for the choices they've made that put them in the position they are in. Taking responsibility is the first step towards correcting the problem, but they'd rather clutch their participation trophies and cry how "the world owes me".
Because the more you do, the more work that gets stacked on you. You never ever get compensated for it, and US companies look at workers as liabilities instead of assets. And you wonder why people are throwing in the towel? You can do better CNBC. It's plainly obvious why people have pumped the brakes. It's simple reciprocity.
Because they are forcing people to work too much. People’s productivity decreases if they are forced to work more than 5 hours per day. Plus forcing people to commute especially by car lowers their productivity because driving is so stressful and miserable.
I joined a small company years ago and almost instantly increased the productivity of a key output by something like 2000% because I understood the simple tools that could be leveraged for this process. A great deal of productivity improvement comes with better training and (sometimes simple) innovations. But, as mentioned in the video, these improvements are not always easy to capture and measure.
The trick to that is the same as with company success. A company isn't measured by how well its able to maintain success, its measured by how well it can show constant growth. Whatever productivity you increased gets praised today, becomes your baseline tomorrow, and the year after they're looking at you going 'ok, but we're not seeing any productivity Growth, what's wrong with you?'. Seen it time and time again, with person after enthusiastic 'I'm gonna change the world!' - metrics for most companies aren't set up for you to benefit off of these successes.
Corporations simply want to get by on a skeleton crew to maximize profit. Enter automated processes (forcing customers to deal with online customer service) leaving whatever manual labor leftover added to the existing staff's workload.
This isn't even about intentional slow-downs. It's about management not investing in their employees. Giving your employees better skills and equipment costs money up front, but it will pay off in the long run - or even in the next year. Unfortunately, lots of management teams are focused on the results for the next *quarter*.
This has been my experience time and again. Making do with inferior or worn-out equipment over rhe long term simply wastes labor time and lowers output. We know what we need to get the job done faster, but management never listens.
@@nmize7623 Not me at my last job, working on a Windows 95 computer that was almost as old as I was, with management completely unwilling to actually upgrade it. "Hey, Mr. Manager, we could complete this task 50x faster if we had a PC that could actually work faster than a horse and buggy." BUT THAT WOULD COST MONEY EWWY.
I worked for a small agency as one of four developers. They fired my boss and the other guy ended up leaving. After a year of doing more than double the work I was doing before because they never hired a replacement, I request to be paid something similar to what my old boss made. Made sense to me since I took over all his responsibilities. They declined so I ended up looking elsewhere. Found a place that offered me 10 grand more and better benefits starting off.
I can't help but feel like this is the natural outgrowth of people feeling like their amount of work is not directly tied to their income. The harder that many work the more work they are given and their pay does not adjust accordingly. Because of this imbalance, it's almost foolish to push yourself to the extreme, or at least to work harder than comes naturally to an individual. I have had periods of time in my career where I have worked extremely hard and times where I have not and the adjustments in my pay have been more tied to economic changes than they ever have been to my effort. I feel like that's the problem. Also people working in lower end service jobs will never be able to afford to do anything beyond maybe rent and food despite them being essential to the functioning of our economy. The wealth needs to be distributed more evenly and it needs to be more directly tied to performance in order to increase productivity. How exactly you do that is crazy complicated and I have no idea what the solution is.
your quote.......... "I have had periods of time in my career where I have worked extremely hard and times where I have not and the adjustments in my pay have been more tied to economic changes than they ever have been to my effort." .............. This is exactly how I feel too.
In a fast changing world where innovation and acquisition have become "constant", even experienced retained staff cannot maintain the productivity levels. Its not just about problems with new hires, it is also about new products, new processes and new technology.
Its just the natural tendency of the profit rates to go down as machines replace living labor since the source of the profit is in the labor of the production workers exploited by the bosses.
Price of everything shoots up by 40% (media says it's 5%). Meanwhile our wages only go up by 5% if we're lucky and the bosses are wondering why we arent more motivated to be productive?
I and millions of regular people are out here busting our asses trying to make ends meet while i personally know of some who are sitting in their 2 million dollar home on a zoom call for 4 hours a day making $350k a year. Now you tell me who is more productive?
This is not rocket science. People are struggling to pay bills due to inflation for cost of living expenses. People are watching their C-Suite executives get fat bonuses year after year for doing maybe a few meetings a year but for the rest of the time they virtually do no work and chill and quite literally vanish from public view to go play. It's based on this understanding people realized that they must match the work output for the amount they're taking home. Thus a lower productivity level. Why work more when you're going to be treated like garbage on that note?
The communist Chinese can. They have over a MILLION U.S. green cards and bought up millions of houses in California, often with $500k (corruption) cash.
@@fasthowto Unfortunately, there are no green cards for white people. None of it is reciprocal. There are no reciprocal civil and property rights for Americans in Asian countries, for example, though Asians have millions of U.S. green cards with full rights.
I'm an American that currently lives in Shenzhen, China. No one is less productive than the average Chinese worker. They will pull 12 hour days and accomplish less than what I can do in a few hours. In China, the work culture is not WHAT you're doing at work, simply that you're AT work (even if you have absolutely nothing to do). I think it comes from just having such a huge population, they just throw people at a problem until it gets solved, rather than having the right person do it correctly the first time. Every Chinese business I've worked for has been the most inefficient business I've ever seen, until I start a new job at a different Chinese business.
Honestly this whole video makes me angry. The world was in genuine fear of dying for 3 years and then we have to battle the worst inflation in decades, and they wonder why we are happy little workers. Seriously?
Unions need to come back in a big way. For all the naysayers there are several companies that are union, pay good wages and still make a handsome profit. If you're trying to come from the angle that things will be more expensive they're already expensive.
@@brianholguin6338 The VA does not even cover that, for our veterans. The unions, now run by marxist handlers, supported Biden and CAUSED the current disaster. Have you bought any gasoline lately? Did you ever put on YOUR combat boots and serve (like I did)?
I worked real hard for Ford motor company for nearly 10 years. Broke my neck in 2 places due to my job. They gave me a 10 year plaque and a 5 year legal battle for them still not admit fault. Good times
That only proves that YOU are a klutz and sub-standard employee. Most of us follow instructions and training TO THE LETTER and do not injure ourselves on the employer's property. I never did. In 50 years of work. It's called paying attention. Actually working like you are paid to do. Imagine that.
Productivity is decades ahead of wages. What you thought was going to happen? Short term mindset gets short term results. It's funny how the option is either workers work harder or rich people get richer.
I work in the petrochemical industry. I can tell you, from my viewpoint, that constant policy changes and this never ending push for safety, kills productivity. Policies made by people who have never done the work, sitting at desks trying to come up with new rules to justify their own jobs. Over reaching HR departments. People are expected to perform like machines and never make mistakes. I've seen people with years of valuable experience, make a simple safety mistake, and get terminated. Just for them to go work for the competition. People see this, and it shows. No one will work hard, knowing that management won't have you're back if you make a small safety error. You won't get fired for lack of productivity as quickly as you will for making a safety violation. And that's just to scratch the surface.
I know for the company I worked 10 years for, All our slumped productivity came down to us trade issues with China, as all the company's OE part suppliers are manufactured in China Shipping issues forced poor productivity as well.
Also, that graph they're citing is hilarious. It shows that productivity spiked during the pandemic, probably because everyone was happy working from home. Then it shows productivity falling, which seems to align with the push for everyone to go back to the office. After that, we see productivity returning to "nominal" levels before the pandemic began. So even though all of them are haranguing about how productivity dropped by unbelievable metrics, that's only if you measure post-WFH. In reality, productivity is rising past pre-pandemic levels. So freakin' disingenuous.
We’re actually a lot more productive now compared to 30yrs ago before all this tech we have. With that said I think it would help that the standard work week is 36hrs instead of 40hrs. A 7hr work day would certainly help with productivity in my opinion. Of course hourly wages will increase so everyone can still make the same as a 40hr week, but not like output decreases when we lose a lot of productivity in that last hr anyway.
You are bad at math. 7 * 5 is 35, not 36. Further, the reason you "lose a lot of productivity in that last hr" is because you have a poor work ethic. Successful people give their all, all the time. "If it's worth doing, it's worth doing right."
@@fasthowto LOL calm down. It's called rounding down. I can't be that bad at math if I have an engineering degree... and I work 45hrs a week on average so don't tell me about my work ethic. Perhaps work a little harder on your RU-vid channel instead of trying to dot i's and cross t's on comment sections.
@@DomViktorlolwut? A degree in engineering what, exactly? Whatever it is must not involve any math. How do you get a BIGGER number when you're "rounding DOWN"? At least I'm trying.. LOL It's a lot more art than science, which is pretty foreign to me.
This report is misleading. *Worker productivity had been consistently climbing for many decades and **_only recently has it slowed._* This is likely because workers increasing productivity over those decades was NOT rewarded with higher wages. Their wages have stayed flat since 1978 even though their productivity rose for 40 years after. So workers have stopped giving AF for their productivity because they are being screwed. *CNBC itself reported on this a year ago* : _"Wages in the U.S. have stagnated since the early 1970s. Between 1979 and 2020, workers' wages grew by 17.5% while productivity grew over three times as fast at 61.8%._
Came here to say this exact same thing. Workers are burned out and under appreciated. Have been for decades. Workers have realized they can slow down, and they should.
13:23 is he high? Working twice as much per hour does NOT mean you get paid twice as much per hour. It means you get a $20 Starbucks gift card and a "good job!".
I think the number one cause of loss productivity is.....................................................smart phones. Everywhere you go, employees are constantly on their phones. Imagine those jobs where the public cannot see the employees. I know those folks spend even more time on their smart phones or online entertainment.
I disagree with the guest who said, "if you can make widgets twice as fast, you will get paid twice as much". The company will get paid twice as much if they can turn a sale for the additional unit. The worker will see the same pay check and be told, "if you can produce twice as much, then you should be able to produce 3 times as much". If he meant the worker, then he is so out of touch, and I don't trust his perspective on anything else he said.
The biggest lie work harder get paid more, produce more per hour get paid more biggest lie. What happens is the boss see you doing more for less so they have no reason to pay you more.
That's because the bottom 85% are jobs that provide little to no value and the employees can literally be replaced by putting a sign in the window and hiring the first person able to fog a mirror. If you do not bring any valuable skills to the table, what is it that the company should pay you more for, exactly? Especially when there is someone else right behind you just waiting for their opportunity to fog the mirror for less money.
@@fasthowto Yes, I agree with you, but society can't just "throw away" the bottom 85%. I think this is a problem with Crony Capitalism and with the US. In other parts of the world the separation of income is not as great.
@@DrDRE4391Who said anything about "throw away"? The problem isn't with the jobs, the problem is in the expectations and sense of entitlement in society. "A smartphone is a necessity." "High speed internet is a necessity." "Having my own apartment is a necessity." "Being able to afford cigarettes is a necessity." People have no sense anymore of what is a necessity, and what is a luxury. When I was in college, there were 4 of us sharing a two-bedroom apartment, nobody had cell phones, and we used the internet at the library at school. Those bottom 85% jobs are what we worked so we had enough money to pay our share of the rent, buy beer on the weekends, and be able to afford just enough to eat to get through school. Those bottom 85% jobs are what we worked in high school so we had enough money to put gas in the car that we bought for $500, and maybe to take a girl out to the movies on a Friday night. The purpose of those jobs, from an employee standpoint, is to make enough money to do what you NEED to do, whatever that may be - combined with you making the necessary sacrifices to make those two things come together (like having 3 roommates in an apartment in a not-so-nice part of town). At no point in history was anyone EVER able to afford to buy a house and feed a family of 4 by working at one of those bottom 85% jobs, and yet society now somehow seems to think that they should be able to do those things working one of those same jobs. That logic is faulty, and THAT is the problem.
Productivity is taking a hit due to wages!!! I’ve been remote for 12 years now and the pay is lagging so u get what you pay for…No one is wasting their time with these corporations that clearly don’t care about their employees- it’s time we take a stand for more pay!!!!!!!!
Productivity is taking a hit because of your attitude. I've been remote myself for over a decade, and my wages have increased tremendously during that time. The fact that you somehow think a company should "care" about you is laughable. Companies care about the job, the results, the WORK. Do good work, get rewarded. Feel you're being treated unfairly or not being rewarded? Get a different job that treats you better and rewards you. It's not a difficult concept. The ONLY one you're helping by staying at a bad job is the company.
Serious oversight in the argument at 13:23 - productivity has been rising for years, while wages have not. People ARE producing more, but they AREN'T being paid more.
One simple way to fix productivity, tie CEO's wages to that of their lowest paid employee. I believe during Eisenhauer that ratio was around 60:1, (probably one of our most productive periods in US history), today it's over 400:1. I have no issues with the Steve Jobs of the world, they created a company and made billions. Where I have issues is with the Tim Cook's and Jamie Diamond's of the world, making hundreds of millions for essentially being the equivalent of a Captain of an oil tanker. They carry cargo, they move cautiously and slow, making small adjustments as they go, they do the same route, the same ting, over and over again. Example, my I phone, is it really any different than several generations ago? But is that business model really entitle them to make the money they do? To me that strikes of a broken and inefficient model. Productivity should apply to heads of corporations as much as it does to labor but it doesn't. When was the last time a head of a US bank or corporation was replaced by some young kid from India or China for 1/10th of their salary? I think that's at least one of the contributors to "A Productivity Problem."
Jobs should have tuned into organic vegetarian food as a young man and stayed away from ALL drugs. He would have lived a lot longer and created more innovation. Geniuses don't know everything and are often deficient in large areas outside their specialty. (I've outlived him by a long shot. I know something about this subject.)
Wages haven’t kept up with homes,apartments,automobiles prices,utilities,insurance,taxes or nothing else!!!!#RecordProfitsAre’tTricklingDownToTheMiddleClassOrPoorClass
The productivity problem isn't just an economic concern, it's a societal one. As productivity slows, it impacts wage growth, living standards, and overall quality of life for everyday Americans. We need to address this issue comprehensively to ensure a brighter future for all.
Working harder just means more of your efforts enriches the executives and shareholders. It’s increasingly more profitable to quit and join a competitor or alternative.
American productivity isn't increasing because we're being overworked. Too many places are pushing people too hard for too long. Henry Ford figured out a long ass time ago that people need free time to be at their most productive. Modern America has forgotten that lesson.
You were SO close. What modern America has forgotten is that while you are at work, you actually WORK, and you work HARD. No screwing off on your phone, no constant mistakes, no poor attitude. Henry Ford had people lining up to work for him. If you think for one hot minute he tolerated any slackers, you're dead wrong. That is the lesson that has been forgotten. Everyone wants to be paid like a prince, but behave like a pauper. That's not the way it works.
I know people love working from home and the ones who do will say, I have never been so productive in my life, but I don’t think that’s the case. I feel if you are home you have too many distractions and interruptions. I think it will end hurting us in the long run.
@@Bash70 you are one of those people who play with your dog half the day and spend the rest on Amazon. You are deluding your self. As soon as AI can replace you it will. Then you will have LOTS of time at home
Basically, if you increase the amount of productivity from your workers, the real benefactors of that are the CEOs and shareholders. Sure, some of that may trickle down to the actual workers themselves but you can rest assured that increased productivity will benefit those in power and influence. The same idea exist in times of recessions and economic downturns. CEOs and shareholders are still going to benefit from it by reducing the number of employees or cutting back on wages and benefits. They’re covered either way. That’s how capitalism works.
Another factor CNBC can't mention: - the presence of women in the work place, and of feminism. - Beyond some more granular details in the workplace itself, is the fact that back outside work feminism and perceived promiscuity has decimated family building, leading to a lack of obligations for workers. - Paired with the war on men that the gynocentric society has built, many men not only don't have familial obligations to drive productivity up, but also have no societal obligations/gains toward a society that openly normalizes hate towards them. Why work very fast, if its to produce more goods that will be enjoyed by the same people who spit on you? - there area lot of testimonies of men doing the bare minimum, and misandrist institutions and individuals just choose to listen the reasons why. This one, I don't know, but I would also intuitively assume that: there is a higher odd that a single person get involved in drugs, than a coupled individual. Therefor, if it is the case, the atomization of people will increase the amount of workers whose productivity is impacted by drugs. Or, another factor, is that if you maintain your productivity at work while customers are being driven away by the presence of druggies, your productivity metric will still be negatively affected.
I have been working from home for the past 3+ years, and the team I work on has not been affected productivity-wise. We have very quantifiable ways of measuring our work output, and it's the same or possibly better than it was when we were all in the office. Of course, I work in IT, and I have a good environment to work in, a good computer, etc. Interestingly, our leadership always reckoned that we would be less productive by working at home, but during the pandemic, it became clear that this was not the case at all. So, they have made permanent changes to the work environment, and now we just started coming in one day a week.
Yeah, basically every company who switched to WFH has seen a huge boost in their own productivity. Surprise, a happy worker is a good worker! But they hate the idea of losing control, because they have weird authority fetishes, so they'd rather force everyone to go back into the office and lose money than... y'know... make more money.
Im a member of a Union. The pay and benefits are good. COLA is a blessing. What i hate to this day. Are the LAZY people we have in the plant. From the top to bottom. They are either at work lazy, or too lazy to even come to work for a full week. And i do wish they would and in some cases even could. Fire these people. That said. Most of us understand we have to EARN our living.
Where I work, people get paid exceptionally well and do almost nothing. They sleep, play on their phones and watch TV. Then scream and cry when asked to go do 10 minutes worth of work. It's astounding.
Thank you! I work at the airport at the check in counter. Been there for 10 years. We have to throw our own bags onto the belt as well. These passengers are not forgiving when it comes to weight. Anyway, the young, new people get like that. On their phones. Say, I’m not doing this, I’m not doing that. The bags are too heavy. Why do I always have to do this? When is my break? I work at British Airways counter. Love working there. The people the hiring agency finds are duds, and most of them are from the same doggone airline or contractor… Frontier. (In the city I live in anyway). 🤦🏾♀️
This is definitely a conundrum waiting for a solution: If we eat less avocado toast and keep our same bootstraps that pull ourselves up in good shape while levitating preserving the bottom of the boots, then the avocado companies productivity drops and the boots and bootstrap companies productivity drops.
There is simple way to boost productivity: stop doing work that produces nothing of value to the society but profits to the employers, and free up labor to do something useful. In capitalist societies, employers employ wast amounts of labor to just fight for their share of sales in the market. It just all ads to inefficiency, it is crazy what we do.
So who is representing the worker In this insert? Why are the workers not as productive if the promise is, if you work twice as hard you'll get twice the rewards?
Work has been made miserable. Customers have become a**holes. His first day on the job, my son was told, "You ARE replacable." Way to make a kid wanna STAY, huh? Plenty of employers see Americans as desperate, so why not decrease employees and have each person handle the workload of two? Yes!😢
Humans are analog, not digital. Humans work in bursts of energy, not steady streams. The minute company management changes their mindset to accommodate this natural phenomenon, then worker satisfaction and productivity will increase. Our primary output is not bushels of wheat, or stamped widgets. Humans make thousands of micro-decisions daily to adjust and adapt to each task.That can cause stress when a person is tired or distracted. They will slow down, make mistakes, or burn out from prolonged exposure. The business news media and analysts are quick to point out the flaws and attitudes of workers. Workers are blamed for most things that is wrong with a company or GDP. But I hear no one trying to hold executive or middle management accountable for the misjudgments and lack of flexibility required to acquire and maintain a productive and well adjusted workforce. We put these MBA grads on a pedestal for their academic achievements and their educational pedigree, but we do nothing to educate them on the realities of how to manage a company or workers in the real world. Seems like there is a management productivity problem. Try investigating that @CNBC
Till the wages of workers, which have remained stagnant, catch up to the productivity increases in the past few decades, there is no incentive for workers to increase productivity further.
Wage growth? Income growth? What's that? My pay has been capped for the past 6 years. HR accidentally sent me an email for new hires showing their starting wage is now $2 /hr LESS than when I started with the company 10 years ago.
Worker productivity in the US has done nothing but go up and up and up and up, while salaries haven't kept up with inflation. I couldn't care less where worker productivity is. I'm only interested in being able to live comfortably. It's a lie to think we're not working hard enough.
I was working 19 hours a day from offshore for the telecom gaint in USA. Morning you have to work for the offshore and by evening the day begins again to work with onshore. There is no shift based job. All you get is backstabbing. People keep saying productivity is less in india.
It's not a mystery why productivity is down. Employees who work hard and are loyal, driven and motivated are either kept where they are or are fired. Employees who do the bare minimum, make demands, quiet quit or do the annual game of job roulette are rewarded with raises and title promotions. Add in nepotism, where the best and hungriest employees are ignored in favor of the person who's only there because they know someone, and it's very clear what the problem is. Of course, we don't live in a just universe, and many of these tech people who have been laid off will just use their severance package to start their own company and make even more money. Meaning their being laid off has actually been beneficial for them, rather than a wake up call.
