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Well yes, and in the U.S. that "least cost" is slave labor. It doesn't have to be, though. Do you think the EU/western Europe has lower worker efficiency even t
by porbelm 4y ago
Well yes, and in the U.S. that "least cost" is slave labor. It doesn't have to be, though. Do you think the EU/western Europe has lower worker efficiency even though we have a five-day week, four or five weeks vacation time a year, and eight hour work days with relatively generous overtime compensation? And businesses pay more taxes on their workforce, the state spends lots on healthcare, etc etc.
Many countries are even talking about doing four-day weeks or six-hour days.
It is in the interest of the company to have happy, productive workers that stay because they enjoy their life and work. That is best done with generous compensation and whatever allows for a good work/life balance.
- alex_sf 4y ago> Do you think the EU/western Europe has lower worker efficiency even though we have a five-day week, four or five weeks vacation time a year, and eight hour work days with relatively generous overtime compensation? Yes. https://www.aeaweb.org/articles?id=10.1257/jep.22.1.25 https://www.aeaweb.org/articles?id=10.1257/jep.22.1.25
- scaramanga 4y agoBeware the people conflating efficiency with "productivity" productivity is just earnings divided by payroll. If you sack half of your workers, your productivity will approximately double. But not for long.