WEBVTT

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TOM KOCHAN: Well, good
afternoon, everyone,

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or good morning or good evening.

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No matter where you
are in the world,

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it's some time of
the day or night.

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And I'm delighted that
we can use this time now

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to provide a wrap-up
to the journey

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that we've been on for
the last seven weeks.

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We've covered a lot of ground.

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We've looked at a lot
of different issues

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that are so central to our
future, to the future of work.

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And today, what we want to
do is to try to take stock.

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What did we learn?

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Where are we going?

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How are we going to individually
and then collectively make

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this a better workplace for
the future for all concerned?

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So I'm really pleased that we
can have this session in a very

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interactive way.

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And as we indicated on
the course materials,

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you can post questions or
comments as we go along.

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Some of you, I know,
are already on Twitter.

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There's the hashtag,
and I believe

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that's going to continue to
show for you, those of you who

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are comfortable using Twitter.

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And one of our colleagues
here in the classroom

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will convey your
questions or comments.

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You can also post on
the discussion board

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where we put a heading
for the live discussion.

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So let's make this really
an interactive session.

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I'm joined here this
afternoon by our MBA

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class that has been working
with us throughout the semester.

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As you know, many of them served
as expert facilitators for you.

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So now they all
have a certificate

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in mediation and facilitation.

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They're experienced,
and they're going

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to go out and start doing this
in the workplace of the future.

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But we'll take questions and
comments from our colleagues

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here because they've been
following and working

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on the same issues as we've
been going through this course.

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So why don't we get started?

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And let's see a little
bit first, who are we?

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Well, I want to
thank our partners.

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This enterprise is only
possible because we

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have a lot of good organizations
that are working together

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to make it possible,
starting with edX and MITx,

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our platform and
our delivery source,

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and the team of people
working behind the scenes

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to do the videos with me
and with our colleagues

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and to do the editing and to
put the materials on the course

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site, all part of this process.

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I'm very pleased
that we have partners

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at both Cornell University
and the School of Labor

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and Industrial Relations
and at Rutgers University

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and the School of Management
and Labor Relations,

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where classes have taken the
course on their own campus.

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And in fact, we're going to draw
on some of the material that

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were provided by students
from those classes

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as we move along
here this afternoon.

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And then, finally,
our colleagues

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at the Hitachi Foundation.

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You saw one video that
Barbara Dyer helped

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to produce on entrepreneurship.

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Well, the Hitachi Foundation
is a partner with us

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throughout this course in
providing materials and support

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as we go along.

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So with the MIT
School of Management,

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with our Institute for Work
and Employment Research,

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we have lots of organizations
supporting this enterprise.

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And then, who are we?

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Well, we are at 4,299
students and counting.

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That number went
up this morning,

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so I suspect it may continue
to grow as we go along

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and as we keep this material
live on the course site.

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But it's a very,
very diverse class,

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and that's what makes
it really interesting--

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144 countries.

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We have people-- a
wide distribution

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of educational backgrounds,
from high school, some students

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in high school,
students graduated

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from high school in technical
and vocational schools,

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many who have gotten
four-year degrees,

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and a large number
with advanced degrees.

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So it's a group that reflects
the notion that education

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is important, a theme that we
beat over the head very hard

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throughout the course and
we'll continue to talk

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about here this afternoon.

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Also, a very interesting
age distribution.

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The median age is 31.

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But if you look at
this distribution,

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you see that there are
many younger people

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and then a spattering of
people more senior to age 31,

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all the way up to
someone in their 90s.

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So welcome to our
senior citizens

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who are still interested in
shaping the future of work.

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I think that's fantastic.

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So gender-- we have majority of
males but a good distribution.

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We have distribution
also in terms

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of backgrounds in industries.

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I don't put it on
the slides here,

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but we have people
with experience

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in all different
industries and occupations.

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We have people who
are union members

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or have been union
members, about 18% or 19%.

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That's a larger number than
you find in the United States

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in the distribution
of the population.

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But then around
the world it's more

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reflective of the
workforce as we find it,

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and people of all different
occupational levels,

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from entry level to PhDs
and advanced professionals,

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people working in
the gig economy,

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and people working in
more standard settings.

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So we learned a lot
from each other.

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And let's take a look at what
some of the overriding lessons

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are.

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I put three lessons
here that reflect

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really the motivation
for this course

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and that were
emphasized throughout.

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And I'll only use
these to introduce

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where we're going to go.

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But basically you
put a lot of emphasis

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on this "high road/low
road" distinction,

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as we did in teaching
this material,

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that we know that there are
choices that companies can make

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to create good organizations
that are financially

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successful, and
that if they follow

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a set of well-defined
practices, that can also

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be good for their employees.

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But not all firms
compete that way.

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Not all firms are
organized that way.

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And so we emphasized and you
emphasized the importance

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of trying to encourage
more "High Road"

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firms as a key takeaway
lesson from this course.

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We also emphasize something
that many found surprising,

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the notion that we need to
rebuild worker bargaining

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power, particularly here
in the United States,

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but increasingly
across the world.

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And some of you reminded
us in the discussion forum

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as late as this afternoon that,
in some parts of the world,

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workers don't have a
legal right to organize,

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or a legal right to
voice their concerns,

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or that their efforts
are suppressed

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in a variety of ways.

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And so we have to respect
workers for their rights,

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for the dignity of work, and
the opportunity for expressing

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their concerns with power
and with effectiveness

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so that they can contribute
both to their own improvements

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but also to the viability
of their enterprises.

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And then finally, this emphasis
on trying to get business,

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and labor, education, and
government working together.

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We particularly feel it
here in the United States

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at the moment, with the
rhetoric, the unfortunate

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rhetoric, and my personal
view that is so active

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and maybe even dominating
our political campaign

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at the moment, with people not
respecting each other's rights,

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each other's backgrounds,
each other's traditions,

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and each other's preferences.

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And I think we've
got to find ways

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to get across these
interest group

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lines to solve some
of these problems.

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So that's a bit of an
overview of what we've covered

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and some of the major themes.

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Now let's dig a
little bit deeper.

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And let's start with, what
do you want from work?

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Remember, we started
with a question right

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at the beginning of the class.

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What's the most important
priority for you

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when you think about what
you're looking for in your work

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and in your careers?

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And the results are
quite interesting,

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and I think they're more nuanced
than even this pie chart shows.

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Yes, number one is
getting a good balance

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between work and family life.

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26% of you rated that
your top priority,

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followed very closely by
this interesting concern

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for having an
impact, for dealing

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with real problems, significant
problems, in your society

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and your location,
your community.

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You want to address the issues
that are in front of us today.

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Maybe it's dealing
with climate change

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and saving the
planet for yourselves

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and the next generation,
other generations to follow.

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Maybe it's dealing
with the poverty

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that we find in too
many parts of our world.

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Maybe it's dealing with some
of the social challenges

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and conflicts that we
have in the war-torn areas

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of the world.

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But you want to
make a difference,

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and I think that is fantastic.

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And yes, you want a
good financial return

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for your investments
and your contributions.

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But notice, these
are mixed together.

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And I think when we did
the interviews, when

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we did the exercise
around asking, how

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are your views similar or
different than your parents,

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the dominant thing
that came through

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in your qualitative
comments, to me,

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was that you want many of the
same things as your parents--

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respect, security in some
sense, financial security.

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But you also want more.

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You recognize you
are perhaps more

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privileged than your
parents or grandparents

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and that you are
in a position where

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you can have an opportunity
to have a meaningful job,

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make a meaningful contribution,
and really contribute

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to improving society.

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And so I think there's more
that you expect out of work

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than perhaps prior generations.

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Here is just a
couple of examples.

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And I want to put a little
bit more substance on that pie

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chart, because I think
it tells us something

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about the complexities
of work today

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and of the workforce today.

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And this is one point
that someone made,

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and I think it summarizes
that chart pretty nicely.

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"I dream of a well-balanced work
and family environment, where

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I can develop my
skills and put them

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to service of my
community, as well as

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to get a wage that allows me
to live decently and provide

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for my future offspring."

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So here we bring family
and work together.

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We bring commitment
to an important cause,

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but an expectation that I can
do this in a way that will

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take care of my family needs.

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Our MBA students
here in the classroom

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had an assignment to go out
and talk to other workers,

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to interview them and
do an audio recording.

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And we received some fantastic
recordings and stories

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from workers telling their
own story about work.

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And I just want to
illustrate two of them

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that I think help bring home
the complexity and the diversity

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that we find in work experiences
and in our workforce today.

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This one says-- it's an
immigrant from Ghana working

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in a temporary job in
transportation and construction

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and manufacturing services
and has had a variety

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of these kinds of jobs.

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And what is his aspiration?

00:12:07.270 --> 00:12:10.150
It's very basic and very
simple for an immigrant.

00:12:10.150 --> 00:12:12.400
He wants to finish school.

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He wants to get a better job.

00:12:14.200 --> 00:12:15.910
He wants to start a family.

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And he wants to
live comfortably.

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That's the immigrant story
that builds so many countries

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around the world, where people
take the risks of moving

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from their homeland to somewhere
else in search of a better

00:12:28.060 --> 00:12:28.870
life.

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And it's our
responsibility, therefore,

00:12:31.210 --> 00:12:35.050
to make sure that people
who have that aspiration

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can actually realize it.

00:12:36.670 --> 00:12:40.240
And we appreciate the value
that they bring to our countries

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when they come.

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And I thought that was a
very interesting comment.

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And this is one.

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This might be one of
my most favorite ones.

00:12:47.590 --> 00:12:50.500
It's from a 26-year-old
college graduate

00:12:50.500 --> 00:12:53.260
who is an Uber
driver at the moment.

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And just I'll read this because
it illustrates the complexity

00:12:57.010 --> 00:13:00.070
of what's going on in
this individual's mind

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and in his life in trying to
figure out where to go next.

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And he's saying, what am I
looking for in the next job?

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Well, I'm "looking for
a well-paying job--

00:13:08.740 --> 00:13:11.810
over $15 an hour."

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Whether we consider
that well paid or not

00:13:13.550 --> 00:13:15.860
is another question, but
that's what his aspiration

00:13:15.860 --> 00:13:16.820
is at the moment.

00:13:16.820 --> 00:13:19.650
"Salary is definitely there, but
number one is the environment--

00:13:19.650 --> 00:13:22.400
as long as I enjoy
what I'm doing--

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be able to live your life
and enjoy what you are doing.

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But now I'm finding that
it's really hard to live off

00:13:29.330 --> 00:13:33.560
one job; I see lots of people
having to work two jobs.

00:13:33.560 --> 00:13:36.410
For me, it's just to be
able to support yourself

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and your family with one job."

00:13:38.990 --> 00:13:45.560
Seems to me that's a very,
very basic simple aspiration,

00:13:45.560 --> 00:13:49.490
that if we can't deliver on
that particular expectation,

00:13:49.490 --> 00:13:51.890
there's something wrong
with our work systems.

00:13:51.890 --> 00:13:53.800
There's something
wrong with our economy.

00:13:53.800 --> 00:13:56.420
And there's something wrong
with the way in which we

00:13:56.420 --> 00:14:00.080
are structuring work today.

00:14:00.080 --> 00:14:02.630
If we can't really
provide an opportunity

00:14:02.630 --> 00:14:05.690
to support yourself and
your family with one job,

00:14:05.690 --> 00:14:08.030
we've got a lot more work to do.

00:14:08.030 --> 00:14:10.370
These were just a
couple of the interviews

00:14:10.370 --> 00:14:15.590
that came from our MBAs.

00:14:15.590 --> 00:14:19.910
But I want to turn to the people
in the classroom and ask them.

00:14:19.910 --> 00:14:23.840
Just very quickly, just give
a quick one minute or a one

00:14:23.840 --> 00:14:26.470
sentence or two summary.

00:14:26.470 --> 00:14:28.720
What surprised you when
you talked to workers?

00:14:28.720 --> 00:14:30.910
Because I encouraged
the students

00:14:30.910 --> 00:14:32.552
to go out and not
just talk to someone

00:14:32.552 --> 00:14:37.372
who was very much like them, but
to talk to people [INAUDIBLE]

00:14:37.372 --> 00:14:40.508
from a little background
[INAUDIBLE] occupation.

00:14:40.508 --> 00:14:42.674
So just very quickly, let's
just get some statements

00:14:42.674 --> 00:14:44.944
about what surprised you.

00:14:44.944 --> 00:14:46.710
Leo's going to start us off.

00:14:46.710 --> 00:14:47.590
AUDIENCE: Thank you.

00:14:47.590 --> 00:14:51.130
I think for me it's
reading this and comparing

00:14:51.130 --> 00:14:52.390
to what I had in my interview.

00:14:52.390 --> 00:14:53.860
I actually interviewed
someone who

00:14:53.860 --> 00:14:55.443
worked at management
consulting, which

00:14:55.443 --> 00:14:59.055
is very high-prestige
profession, very well-paid.

00:14:59.055 --> 00:15:00.430
And the thing they
complained was

00:15:00.430 --> 00:15:02.710
balance between work
and personal life,

00:15:02.710 --> 00:15:05.280
working 100 hours a
week and having to--

00:15:05.280 --> 00:15:07.030
they wanted to quit
just to have more time

00:15:07.030 --> 00:15:09.100
to spend doing the
things they liked

00:15:09.100 --> 00:15:10.860
and being with their families.

00:15:10.860 --> 00:15:14.620
So both on the top
and the bottom,

00:15:14.620 --> 00:15:17.740
people are feeling the same
need of, like, maybe they're

00:15:17.740 --> 00:15:20.050
overworking and, like,
too much pressure on them.

00:15:20.050 --> 00:15:20.758
TOM KOCHAN: Yeah.

00:15:20.758 --> 00:15:24.522
So here's this
concern of, I'm always

00:15:24.522 --> 00:15:27.842
on the road or [INAUDIBLE].

00:15:27.842 --> 00:15:31.340
What else did you hear?

00:15:31.340 --> 00:15:34.960
AUDIENCE: So with the first
citation we had up there--

00:15:34.960 --> 00:15:37.794
I was interviewing a
French retail worker.

00:15:37.794 --> 00:15:40.210
And it was interesting to hear
how that worker didn't want

00:15:40.210 --> 00:15:42.043
to use their nationality,
which could easily

00:15:42.043 --> 00:15:44.170
be associated with
luxury products,

00:15:44.170 --> 00:15:45.140
as their selling point.

00:15:45.140 --> 00:15:46.330
So they were trying to
kind of break out of it,

00:15:46.330 --> 00:15:47.740
and they recognized the value.

00:15:47.740 --> 00:15:49.210
But just interesting
to hear how different

00:15:49.210 --> 00:15:50.380
backgrounds and
nationalities can

00:15:50.380 --> 00:15:52.810
influence how you approach
work, how you succeed at work,

00:15:52.810 --> 00:15:54.610
and how you want to
be identified at work.

00:15:54.610 --> 00:15:55.318
TOM KOCHAN: Yeah.

00:15:55.318 --> 00:15:59.530
So here is someone [INAUDIBLE].

00:15:59.530 --> 00:16:04.190
And the fact that this person
was a wine salesman, well,

00:16:04.190 --> 00:16:07.230
we tend to think, French
wine, my goodness.

00:16:07.230 --> 00:16:09.510
But he wanted to demonstrate
that he knew wine

00:16:09.510 --> 00:16:11.340
not because he was
French and didn't

00:16:11.340 --> 00:16:14.910
want to use that as
a marketing device.

00:16:14.910 --> 00:16:18.150
He wanted to demonstrate he
really loves this cuisine.

00:16:18.150 --> 00:16:19.140
He loves to do it.

00:16:19.140 --> 00:16:20.460
He loves to sell it.

00:16:20.460 --> 00:16:22.970
And he wants to have an impact.

00:16:22.970 --> 00:16:24.806
What else?

00:16:24.806 --> 00:16:27.380
Yeah, [? Cueto. ?] Go ahead.

00:16:27.380 --> 00:16:29.570
We lost the-- here we are.

00:16:29.570 --> 00:16:30.232
Go ahead.

00:16:30.232 --> 00:16:31.690
AUDIENCE: I
interviewed someone who

00:16:31.690 --> 00:16:34.400
works with the state
of Massachusetts

00:16:34.400 --> 00:16:36.094
on the theme of work balance.

00:16:36.094 --> 00:16:37.760
He said something
interesting, that even

00:16:37.760 --> 00:16:40.093
though a lot of times people
think working in government

00:16:40.093 --> 00:16:42.740
doesn't pay well, the
work balance actually

00:16:42.740 --> 00:16:44.690
comes into effect
because you're not

00:16:44.690 --> 00:16:47.000
allowed to check your
emails when you go home.

00:16:47.000 --> 00:16:48.950
So in the private
sector, you may

00:16:48.950 --> 00:16:50.810
get a cell phone
and laptops and all

00:16:50.810 --> 00:16:53.402
that, but somehow you're
expected to be on 24/7.

00:16:53.402 --> 00:16:54.110
TOM KOCHAN: Yeah.

00:16:54.110 --> 00:16:58.175
So this technology can either
be our ally or our worst enemy,

00:16:58.175 --> 00:17:00.792
and they have a solution or a
strategy for dealing with it.

00:17:00.792 --> 00:17:02.000
So that was very interesting.

00:17:02.000 --> 00:17:02.611
Good.

00:17:02.611 --> 00:17:03.110
[? Ladia. ?]

00:17:03.110 --> 00:17:03.735
AUDIENCE: Yeah.

00:17:03.735 --> 00:17:05.854
I interviewed a
immigrant worker.

00:17:05.854 --> 00:17:09.264
She was a woman from Bangladesh
working for last 10 years

00:17:09.264 --> 00:17:10.089
in the US.

00:17:10.089 --> 00:17:14.049
And that surprised me when
I asked, what is your wish?

00:17:14.049 --> 00:17:15.781
She said that, I
want that I could

00:17:15.781 --> 00:17:17.349
save that amount
of money, that I

00:17:17.349 --> 00:17:19.329
can afford a
two-bedroom house, and I

00:17:19.329 --> 00:17:20.979
can keep my child with myself.

00:17:20.979 --> 00:17:23.942
And she was already
doing two jobs.

00:17:23.942 --> 00:17:27.358
And that made me think that
the price of the housing

00:17:27.358 --> 00:17:31.506
is so high, and a person who
is working full time, and even

00:17:31.506 --> 00:17:33.214
for the extra
time-- she was doing

00:17:33.214 --> 00:17:35.654
two jobs-- it's
difficult for her

00:17:35.654 --> 00:17:38.642
to maintain family life
and [INAUDIBLE] work.

00:17:38.642 --> 00:17:39.350
TOM KOCHAN: Yeah.

00:17:39.350 --> 00:17:43.190
So here's someone
who has a family, set

00:17:43.190 --> 00:17:46.010
of responsibilities,
holding down two jobs,

00:17:46.010 --> 00:17:49.790
just trying to
survive and get ahead,

00:17:49.790 --> 00:17:55.160
another immigrant story that
is very common for people

00:17:55.160 --> 00:17:56.480
who are trying to make it here.

00:17:56.480 --> 00:17:58.913
Anyone else want to offer?

00:17:58.913 --> 00:18:01.830
Yes.

00:18:01.830 --> 00:18:07.490
AUDIENCE: For me, my interviewee
is a PhD student in the UAE.

00:18:07.490 --> 00:18:12.950
And he has [INAUDIBLE]
for 12 years.

00:18:12.950 --> 00:18:17.020
And what surprised me is that,
I'll also mention to you,

00:18:17.020 --> 00:18:21.140
is that the labor union in
the UAE or the Arabic area,

00:18:21.140 --> 00:18:24.670
most of the countries,
is illegal, which

00:18:24.670 --> 00:18:26.410
is my first time to know that.

00:18:26.410 --> 00:18:29.110
And previously, I
already heard the news

00:18:29.110 --> 00:18:34.255
that the immigrant laborers,
like from Pakistan,

00:18:34.255 --> 00:18:37.220
from India, they got
very low payment,

00:18:37.220 --> 00:18:46.460
like it's about $200 US per
month probably, or even less.

00:18:46.460 --> 00:18:50.830
But before that, I had no idea
that there was no protection

00:18:50.830 --> 00:18:53.550
of these laborers.

00:18:53.550 --> 00:18:59.230
And generally,
their visa is linked

00:18:59.230 --> 00:19:03.600
to the employer, which means
the employer can easily

00:19:03.600 --> 00:19:07.464
misuse their right to
force them to work hard.

00:19:07.464 --> 00:19:08.130
TOM KOCHAN: Yes.

00:19:08.130 --> 00:19:12.410
This is a big, big issue for
immigrants in many countries,

00:19:12.410 --> 00:19:13.910
particularly in the Middle East.

00:19:13.910 --> 00:19:16.760
I've spent some time
in Saudi Arabia trying

00:19:16.760 --> 00:19:20.270
to work with the Minister
of Labor in Saudi Arabia

00:19:20.270 --> 00:19:23.150
to change those, and
it's very difficult.

00:19:23.150 --> 00:19:26.210
But here is a country
where worker rights

00:19:26.210 --> 00:19:27.470
are very much suppressed.

00:19:27.470 --> 00:19:29.750
And particularly
the vast majority

00:19:29.750 --> 00:19:31.370
of the workforce in
the private sector

00:19:31.370 --> 00:19:34.160
are immigrants from very
low-income countries,

00:19:34.160 --> 00:19:36.450
and they're tied
to their employer.

00:19:36.450 --> 00:19:38.510
So when we think about
the workplace today

00:19:38.510 --> 00:19:40.670
and we think about
our aspirations,

00:19:40.670 --> 00:19:43.460
we generally tend to
think about the fact

00:19:43.460 --> 00:19:45.170
that we have a
free labor market.

00:19:45.170 --> 00:19:48.350
We can move if things
are not satisfactory,

00:19:48.350 --> 00:19:53.060
or we can raise our voice,
individually or collectively,

00:19:53.060 --> 00:19:54.650
to try to change things.

00:19:54.650 --> 00:19:58.010
But we have to understand that
a very large number of people

00:19:58.010 --> 00:20:01.400
across the globe don't have
those very, very basic rights

00:20:01.400 --> 00:20:04.430
or what the International
Labor Organization-- remember

00:20:04.430 --> 00:20:07.670
Guy Ryder's introduction
to this course way back

00:20:07.670 --> 00:20:11.510
in the first week,
the director-general

00:20:11.510 --> 00:20:14.270
of the ILO in Geneva.

00:20:14.270 --> 00:20:17.840
A core principle,
a core human right,

00:20:17.840 --> 00:20:20.180
according to the International
Labor Organization,

00:20:20.180 --> 00:20:22.970
a part of the UN, is
freedom of association,

00:20:22.970 --> 00:20:25.460
along with freedom from
discrimination and from forced

00:20:25.460 --> 00:20:27.590
labor and child labor.

00:20:27.590 --> 00:20:31.040
So those are some
very, very basic things

00:20:31.040 --> 00:20:33.540
that we expect in
the world of work.

00:20:33.540 --> 00:20:37.880
But not all people and, in
fact, a very significant portion

00:20:37.880 --> 00:20:40.820
of the workforce
across the globe

00:20:40.820 --> 00:20:42.210
don't have these basic rights.

00:20:42.210 --> 00:20:46.550
So we have to remember this
as we think about where we are

00:20:46.550 --> 00:20:50.090
and how we advance from
the stage that we're at.

00:20:50.090 --> 00:20:51.996
[? Shahid, ?] do you have a--

00:20:51.996 --> 00:20:53.704
AUDIENCE: There was
a question on Twitter

00:20:53.704 --> 00:20:58.620
where someone asked, do you
have an example of [INAUDIBLE]

00:20:58.620 --> 00:21:02.480
country which is sort of
facilitating some of that,

00:21:02.480 --> 00:21:06.680
making sure that some of these
[INAUDIBLE] sort of things

00:21:06.680 --> 00:21:10.369
are not imposed on the
people, on the workers?

00:21:10.369 --> 00:21:12.160
Do you have some good
examples [INAUDIBLE]?

00:21:12.160 --> 00:21:14.000
TOM KOCHAN: Well,
there are examples

00:21:14.000 --> 00:21:18.680
of countries that are struggling
with this and working on it.

00:21:18.680 --> 00:21:22.910
One middle-income country that
is actually quite advanced

00:21:22.910 --> 00:21:23.840
is Singapore.

00:21:23.840 --> 00:21:28.340
And Singapore has a lot
of immigrant workers,

00:21:28.340 --> 00:21:31.520
particularly in the
domestic service sector,

00:21:31.520 --> 00:21:34.670
and they've had some scandals,
some terrible experiences.

00:21:34.670 --> 00:21:41.300
But they have now imposed some
very strong legal constraints

00:21:41.300 --> 00:21:42.470
and strong enforcement.

00:21:42.470 --> 00:21:45.420
Because it's one
thing to have a law,

00:21:45.420 --> 00:21:47.570
but it's another thing
to try to enforce it.

00:21:47.570 --> 00:21:51.950
And so Singapore is
working to make progress

00:21:51.950 --> 00:21:54.120
in this direction.

00:21:54.120 --> 00:21:57.050
But I have to say,
in the Middle East

00:21:57.050 --> 00:21:59.240
some countries are
doing a better job,

00:21:59.240 --> 00:22:02.130
but there is a long,
long way to go.

00:22:02.130 --> 00:22:05.780
And that's where
perhaps the issue

00:22:05.780 --> 00:22:08.900
is most serious
and most profound

00:22:08.900 --> 00:22:12.540
because the benefits
to migrant--

00:22:12.540 --> 00:22:17.840
immigrant workers going
from Pakistan or Bangladesh

00:22:17.840 --> 00:22:20.930
to the Middle East are
quite substantial if they

00:22:20.930 --> 00:22:23.540
can stand the harsh
conditions of the work.

00:22:23.540 --> 00:22:27.050
And the employers
in the Middle East

00:22:27.050 --> 00:22:31.250
understand that there are real
advantages for people coming

00:22:31.250 --> 00:22:33.470
to take that work,
and so therefore

00:22:33.470 --> 00:22:36.890
that just feeds into some
of the more harsh rules.

00:22:36.890 --> 00:22:38.900
I think we will see change.

00:22:38.900 --> 00:22:41.390
Those of you who have been
reading the world news

00:22:41.390 --> 00:22:43.460
have just heard
that Saudi Arabia

00:22:43.460 --> 00:22:47.120
is trying to move away from some
of its dependence on the oil

00:22:47.120 --> 00:22:48.200
industry.

00:22:48.200 --> 00:22:52.510
Saudi Arabia has also
tried to introduce, slowly,

00:22:52.510 --> 00:22:55.940
with the leadership of
their Minister of Labor

00:22:55.940 --> 00:22:59.030
a number of years ago,
more rights for women,

00:22:59.030 --> 00:23:02.540
because women don't have
many rights to drive a car

00:23:02.540 --> 00:23:06.710
or to work in settings
where men are present.

00:23:06.710 --> 00:23:08.400
That is slowly changing.

00:23:08.400 --> 00:23:10.040
That's going to
take a long time.

00:23:10.040 --> 00:23:14.120
But here, again, is an
example of a society that

00:23:14.120 --> 00:23:18.500
has a set of values,
historical values, that

00:23:18.500 --> 00:23:22.370
are very important to their
identity and their religion.

00:23:22.370 --> 00:23:26.790
But as outsiders, we may have
some questions about them.

00:23:26.790 --> 00:23:29.120
We have to understand
these countries

00:23:29.120 --> 00:23:31.400
in their own cultural context.

00:23:31.400 --> 00:23:37.355
But I do believe there are some
very basic core rights of work

00:23:37.355 --> 00:23:42.620
that have to be respected
regardless of where people

00:23:42.620 --> 00:23:45.350
work, how they work, who
they are, and who they work.

00:23:45.350 --> 00:23:47.670
So I think this is a campaign.

00:23:47.670 --> 00:23:49.670
It's something that we
can continue to work for.

00:23:49.670 --> 00:23:53.400
So thank you for that question,
whoever posted it on Twitter.

00:23:53.400 --> 00:23:53.900
OK.

00:23:53.900 --> 00:23:54.590
Let's move on.

00:23:54.590 --> 00:23:56.390
This is a good start.

00:23:56.390 --> 00:23:59.150
We have an understanding,
a deeper understanding,

00:23:59.150 --> 00:24:02.210
of what we are looking
from work and now a really

00:24:02.210 --> 00:24:04.490
good discussion of what
people around the world

00:24:04.490 --> 00:24:09.110
are experiencing as they try
to improve their situation.

00:24:09.110 --> 00:24:11.870
We paid special attention
to history in this class.

00:24:11.870 --> 00:24:14.960
And I want to thank one of
the participants in the class

00:24:14.960 --> 00:24:18.650
for posting this great quote
from Thomas Jefferson, one

00:24:18.650 --> 00:24:21.260
of our most famous presidents,
the third president

00:24:21.260 --> 00:24:25.040
of the United States
and one of the authors

00:24:25.040 --> 00:24:27.290
of the Declaration of
Independence for the United

00:24:27.290 --> 00:24:28.010
States.

00:24:28.010 --> 00:24:33.230
So Jefferson said that, "History
by appraising them of the past

00:24:33.230 --> 00:24:36.500
will enable them"--
that is all of us--

00:24:36.500 --> 00:24:41.560
--"to be a judge of the future;
it will avail us to learn from

00:24:41.560 --> 00:24:44.740
the experience of other
times and other nations;

00:24:44.740 --> 00:24:49.120
it will qualify us as judges
of the actions and designs

00:24:49.120 --> 00:24:53.650
of men"-- that's a very
time-honored or an unhonorable

00:24:53.650 --> 00:24:56.530
use of the word "men" but
that's the way he wrote--

00:24:56.530 --> 00:25:00.290
and "it will enable us to
know the ambitions of others

00:25:00.290 --> 00:25:05.560
even under every disguise it
may not assume; and knowing it,

00:25:05.560 --> 00:25:07.210
to defeat its views."

00:25:07.210 --> 00:25:09.610
Thomas Jefferson was
a student of history.

00:25:09.610 --> 00:25:11.860
Thomas Jefferson
respected history.

00:25:11.860 --> 00:25:13.660
We respect history
in this class.

00:25:13.660 --> 00:25:17.680
Not to repeat it, not to try to
go back to the way things were,

00:25:17.680 --> 00:25:19.690
but to learn from it
so that we can lay

00:25:19.690 --> 00:25:22.220
a foundation for the future.

00:25:22.220 --> 00:25:24.940
So we spent time here
in the United States

00:25:24.940 --> 00:25:27.760
talking about this
foundation that

00:25:27.760 --> 00:25:30.760
was laid in the 1930s
called the New Deal.

00:25:30.760 --> 00:25:33.700
And we even celebrated
some of the people

00:25:33.700 --> 00:25:35.530
who helped to bring about it--

00:25:35.530 --> 00:25:37.540
a professor from the
University of Wisconsin

00:25:37.540 --> 00:25:40.420
whose ideas led to
unemployment insurance

00:25:40.420 --> 00:25:42.550
and led to Social
Security and led

00:25:42.550 --> 00:25:46.240
to the passage of child
labor and minimum wage

00:25:46.240 --> 00:25:49.690
legislation in that state
and in other states before we

00:25:49.690 --> 00:25:51.330
got national legislation.

00:25:51.330 --> 00:25:53.590
And to Frances Perkins,
the first woman

00:25:53.590 --> 00:25:56.470
who was a member of a
president's cabinet.

00:25:56.470 --> 00:25:59.590
President Roosevelt asked her
to be the Secretary of State.

00:25:59.590 --> 00:26:03.237
And Frances Perkins said to the
president when he asked her,

00:26:03.237 --> 00:26:04.570
are you sure you really want me?

00:26:04.570 --> 00:26:07.240
Because if you are going
to put me in that office,

00:26:07.240 --> 00:26:11.170
I'm going to bring my experience
to bring about Social Security,

00:26:11.170 --> 00:26:14.380
some minimum wage, some
basic rights of unemployment

00:26:14.380 --> 00:26:18.430
insurance to bear
at a national level.

00:26:18.430 --> 00:26:21.220
Frances Perkins
observed firsthand

00:26:21.220 --> 00:26:25.480
the terror of a factory fire
called the Triangle Shirtwaist

00:26:25.480 --> 00:26:29.410
fire in New York City in the
earlier part of the century,

00:26:29.410 --> 00:26:33.160
where over 100 women died
because the fire escapes were

00:26:33.160 --> 00:26:37.090
locked as the fire burned
in that particular factory.

00:26:37.090 --> 00:26:40.690
And that imprinted
her commitment

00:26:40.690 --> 00:26:44.020
to make a better place for
work, a more safe place to work.

00:26:44.020 --> 00:26:46.960
And as a result of
leadership and ideas

00:26:46.960 --> 00:26:51.040
and commitment and a change
in politics in the 1930s,

00:26:51.040 --> 00:26:54.820
we got the foundation
of the Social Security,

00:26:54.820 --> 00:26:58.900
the Retirement Security Act
basically, the unemployment

00:26:58.900 --> 00:27:02.365
insurance for the first time,
the ability to join a union

00:27:02.365 --> 00:27:04.450
and engage in collective
bargaining protected

00:27:04.450 --> 00:27:07.930
for the first time, and a
minimum wage and overtime

00:27:07.930 --> 00:27:09.490
rules for the first time.

00:27:09.490 --> 00:27:12.370
That foundation in
the United States

00:27:12.370 --> 00:27:15.430
and comparable legislation
in other countries,

00:27:15.430 --> 00:27:19.450
many in Europe before us,
some in Asia after us,

00:27:19.450 --> 00:27:21.790
some still struggling
to put these kinds

00:27:21.790 --> 00:27:26.350
of basic foundations and floors
on their conditions of work.

00:27:26.350 --> 00:27:29.890
But it was that foundation
that allowed us to then build

00:27:29.890 --> 00:27:35.140
what we talked about in several
sessions as the social contract

00:27:35.140 --> 00:27:38.540
here in the United States
and in other places.

00:27:38.540 --> 00:27:43.960
And so the question then
is, can we build on this?

00:27:43.960 --> 00:27:46.540
Yes, this worked for
many years, and we'll

00:27:46.540 --> 00:27:49.630
look at that in just a moment
just to refresh our minds.

00:27:49.630 --> 00:27:52.900
But can we build
a new foundation?

00:27:52.900 --> 00:27:57.220
If today's world has changed
as dramatically as we

00:27:57.220 --> 00:27:59.920
have discussed it
throughout this course,

00:27:59.920 --> 00:28:04.990
then it behooves us to ask,
what's the new foundation?

00:28:04.990 --> 00:28:07.150
What's the new
body of legislation

00:28:07.150 --> 00:28:09.520
that would lay the
framework for us

00:28:09.520 --> 00:28:11.800
to advance and to deal with
some of the issues we're

00:28:11.800 --> 00:28:16.240
going to talk about here
in just a few minutes?

00:28:16.240 --> 00:28:18.980
So let's-- [? Adelie, ?] did
you have a question or comment?

00:28:18.980 --> 00:28:19.563
AUDIENCE: Yes.

00:28:19.563 --> 00:28:24.706
Just a comment that,
like, [INAUDIBLE]

00:28:24.706 --> 00:28:26.658
specifically said
that, in this country,

00:28:26.658 --> 00:28:33.002
any business who is
depending on its existence

00:28:33.002 --> 00:28:34.954
by paying less than
the living wage

00:28:34.954 --> 00:28:37.394
should not have the
right to be in the US.

00:28:37.394 --> 00:28:39.884
And he said that,
by the living wage,

00:28:39.884 --> 00:28:43.393
I don't mean just
above existence,

00:28:43.393 --> 00:28:45.858
like just [INAUDIBLE].

00:28:45.858 --> 00:28:48.486
But I mean that it should
be a living [INAUDIBLE]

00:28:48.486 --> 00:28:49.766
the decent wage.

00:28:49.766 --> 00:28:51.558
So I mean, perhaps
in this course,

00:28:51.558 --> 00:28:53.380
that's what we are
trying to stress,

00:28:53.380 --> 00:28:56.372
that there should be a decent
living for the workers also.

00:28:56.372 --> 00:28:57.080
TOM KOCHAN: Yeah.

00:28:57.080 --> 00:28:58.966
No, absolutely.

00:28:58.966 --> 00:29:01.510
He was a strong advocate
for worker rights,

00:29:01.510 --> 00:29:06.400
for urging business to
provide a living wage

00:29:06.400 --> 00:29:10.210
to get us out of the Great
Depression of the 1930s.

00:29:10.210 --> 00:29:14.200
And it was that kind of
strong national leadership

00:29:14.200 --> 00:29:17.420
that helped to
make this possible.

00:29:17.420 --> 00:29:19.420
So let's look at what happened.

00:29:19.420 --> 00:29:21.630
We've talked about
the social contract.

00:29:21.630 --> 00:29:25.240
And if you look at this chart,
which we used at several points

00:29:25.240 --> 00:29:28.450
in the course, it
shows, as you've

00:29:28.450 --> 00:29:32.050
seen before, that from
the end of World War II up

00:29:32.050 --> 00:29:35.680
through the 1970s
till about 1980,

00:29:35.680 --> 00:29:38.800
wages and productivity
moved together in tandem.

00:29:38.800 --> 00:29:41.640
That is, as the
economy got stronger,

00:29:41.640 --> 00:29:44.380
the institutions of
collective bargaining,

00:29:44.380 --> 00:29:47.920
the leadership of personnel
management and human resource

00:29:47.920 --> 00:29:51.310
managers in our
large corporations,

00:29:51.310 --> 00:29:57.610
made sure that wages were moving
up in tandem with productivity.

00:29:57.610 --> 00:30:00.760
So workers shared, by and
large, in the benefits

00:30:00.760 --> 00:30:03.520
of the economic growth.

00:30:03.520 --> 00:30:06.220
But something happened,
as we all know,

00:30:06.220 --> 00:30:09.490
in the late '70s
and the early 1980s

00:30:09.490 --> 00:30:10.780
to break this relationship.

00:30:10.780 --> 00:30:14.380
And that's when you see wages
flatlining and productivity

00:30:14.380 --> 00:30:15.790
continuing to grow.

00:30:15.790 --> 00:30:19.750
And that, my friends,
I think explains

00:30:19.750 --> 00:30:22.600
a lot of the frustrations
that we are seeing here

00:30:22.600 --> 00:30:26.620
in the United States play out
in our political debates today.

00:30:26.620 --> 00:30:30.100
That workers today are
saying, we have not shared

00:30:30.100 --> 00:30:32.860
or we have been
displaced, and our income,

00:30:32.860 --> 00:30:36.400
which came from good jobs,
maybe manufacturing jobs

00:30:36.400 --> 00:30:39.970
which have gone offshore or
been outsourced domestically,

00:30:39.970 --> 00:30:44.080
or whatever happened to
them, changed by technology,

00:30:44.080 --> 00:30:47.000
have not benefited from
a lot of these changes.

00:30:47.000 --> 00:30:49.390
And so we are now
reaping the costs

00:30:49.390 --> 00:30:54.010
of not addressing these
changes in the economy

00:30:54.010 --> 00:30:57.610
so that people could keep
up with this process.

00:30:57.610 --> 00:30:59.740
And so one of the things
that we did in the course

00:30:59.740 --> 00:31:02.980
is we asked all of you, what
do you think about this?

00:31:02.980 --> 00:31:05.080
Do you believe wages
and productivity

00:31:05.080 --> 00:31:06.220
should go together?

00:31:06.220 --> 00:31:09.400
And the vast majority,
over 80% of you, said yes.

00:31:09.400 --> 00:31:10.930
But you're worried about it.

00:31:10.930 --> 00:31:11.905
You're also realistic.

00:31:11.905 --> 00:31:13.720
You know that the
world has changed.

00:31:13.720 --> 00:31:16.480
You know that globalization
is more dominant now.

00:31:16.480 --> 00:31:18.790
You know that technology
has eliminated

00:31:18.790 --> 00:31:22.090
a lot of routine
jobs, as we covered

00:31:22.090 --> 00:31:24.880
in later sections of the
class, and you've seen it

00:31:24.880 --> 00:31:26.420
in your own communities.

00:31:26.420 --> 00:31:32.080
We know that we're creating new
forms of work that don't always

00:31:32.080 --> 00:31:35.650
provide some of the same
supports and benefits.

00:31:35.650 --> 00:31:40.360
And so while you know that you
would like to see this happen--

00:31:40.360 --> 00:31:44.980
and these comments come, again,
off the discussion board--

00:31:44.980 --> 00:31:48.767
you're all worried about
how can we make this happen.

00:31:48.767 --> 00:31:50.350
And I think the one
on the left really

00:31:50.350 --> 00:31:54.260
captures the
sentiment of the class

00:31:54.260 --> 00:31:58.000
as well as any that I saw
on the discussion board.

00:31:58.000 --> 00:32:01.570
And it says, "I think
it's important to maintain

00:32:01.570 --> 00:32:04.840
the productivity increases
aligned with raising wages.

00:32:04.840 --> 00:32:07.780
If we, as a society,
continue to show only

00:32:07.780 --> 00:32:10.900
huge social and
economic inequalities,

00:32:10.900 --> 00:32:13.810
and that the rich get richer
and the poor get poorer,

00:32:13.810 --> 00:32:18.280
then we will not be able to have
a successful and sustainable

00:32:18.280 --> 00:32:19.510
society."

00:32:19.510 --> 00:32:21.810
That's a powerful statement.

00:32:21.810 --> 00:32:25.560
And if people really
feel that way, then

00:32:25.560 --> 00:32:29.490
eventually they are going
to act to change this.

00:32:29.490 --> 00:32:33.900
And it's our job to turn some
of this anger and frustration

00:32:33.900 --> 00:32:36.900
into positive
actions for dealing

00:32:36.900 --> 00:32:40.590
with this gap between
economic progress

00:32:40.590 --> 00:32:45.340
for some but a lot of
people left behind.

00:32:45.340 --> 00:32:46.460
So how do we do it?

00:32:46.460 --> 00:32:49.050
We have to go beyond just
hoping that it changes

00:32:49.050 --> 00:32:50.950
or wishing that it
changes or worrying

00:32:50.950 --> 00:32:52.880
that we can't change it.

00:32:52.880 --> 00:32:54.520
And we have to start
to address some

00:32:54.520 --> 00:32:58.750
of the core causes
of the change.

00:32:58.750 --> 00:33:02.260
And we spent some time talking
about, is this inevitable?

00:33:02.260 --> 00:33:04.180
And we started with
the corporation.

00:33:04.180 --> 00:33:06.420
What is the corporation for?

00:33:06.420 --> 00:33:09.130
Is the corporation
simply an instrument

00:33:09.130 --> 00:33:11.800
to maximize shareholder value?

00:33:11.800 --> 00:33:13.540
Is the corporation
expected to be

00:33:13.540 --> 00:33:18.250
held accountable for additional
interests in society,

00:33:18.250 --> 00:33:20.530
for employees, for
their communities?

00:33:20.530 --> 00:33:25.000
Well, we heard from one of
the most respected former CEOs

00:33:25.000 --> 00:33:27.190
and business leaders
in the United States,

00:33:27.190 --> 00:33:29.800
in fact, globally, of
the last generation--

00:33:29.800 --> 00:33:34.660
John Reed, president
and CEO of Citicorp,

00:33:34.660 --> 00:33:37.810
then went on to be president
of the New York Stock Exchange.

00:33:37.810 --> 00:33:40.310
And that interview that
I did with John, which

00:33:40.310 --> 00:33:42.640
I did a year ago, I
think that interview

00:33:42.640 --> 00:33:45.880
has been replayed by more
business schools than anything

00:33:45.880 --> 00:33:47.380
else from this course.

00:33:47.380 --> 00:33:50.620
Because here's someone
who is so highly

00:33:50.620 --> 00:33:53.920
respected and has lived
through the transition.

00:33:53.920 --> 00:33:59.140
And John Reed's view reflected
the views of most people

00:33:59.140 --> 00:34:01.090
in the online course.

00:34:01.090 --> 00:34:05.450
And he basically said,
look, a corporation, yes,

00:34:05.450 --> 00:34:08.860
has to achieve profits
and shareholder value.

00:34:08.860 --> 00:34:10.480
That's beyond question.

00:34:10.480 --> 00:34:12.699
But we also have to worry
about the customers.

00:34:12.699 --> 00:34:14.800
We have to worry
about the employees.

00:34:14.800 --> 00:34:17.500
And if we don't do that,
then, in the long run,

00:34:17.500 --> 00:34:19.780
organizations are going
to face such a backlash.

00:34:19.780 --> 00:34:22.420
And we're not going to prepare
the labor force for the future,

00:34:22.420 --> 00:34:25.330
because corporations are
also training engines.

00:34:25.330 --> 00:34:28.239
And he's very worried about
the workforce and the training.

00:34:28.239 --> 00:34:30.699
That's why he was so
active in education,

00:34:30.699 --> 00:34:34.420
both here at MIT as an
officer of our corporation

00:34:34.420 --> 00:34:38.980
but also I know in
his private work

00:34:38.980 --> 00:34:41.400
around the country and
indeed around the globe,

00:34:41.400 --> 00:34:44.260
and trying to
advance particularly

00:34:44.260 --> 00:34:47.710
technical education,
advance science, technology,

00:34:47.710 --> 00:34:50.679
engineering, and math
education in our universities

00:34:50.679 --> 00:34:52.150
and in our high schools.

00:34:52.150 --> 00:34:55.780
So here is the challenge.

00:34:55.780 --> 00:34:58.780
If we recognize--
and most of you said,

00:34:58.780 --> 00:35:02.140
we expect corporations
to behave in ways

00:35:02.140 --> 00:35:06.340
that respond to shareholders
and other stakeholders.

00:35:06.340 --> 00:35:07.240
What do we do?

00:35:07.240 --> 00:35:09.570
That's nice rhetoric.

00:35:09.570 --> 00:35:11.950
But if all we do is
complain about it

00:35:11.950 --> 00:35:15.370
or go out on the streets and
hold up a sign or a picket

00:35:15.370 --> 00:35:18.580
sign, I suppose
that's a statement,

00:35:18.580 --> 00:35:20.570
but that's not going
to get the job done.

00:35:20.570 --> 00:35:23.950
So we spent a lot of time
talking about what to do,

00:35:23.950 --> 00:35:25.720
and we used lots of examples.

00:35:25.720 --> 00:35:28.390
And here's just a
few, and you all

00:35:28.390 --> 00:35:31.840
heard about these
throughout the course,

00:35:31.840 --> 00:35:35.080
as Costco compared to Walmart.

00:35:35.080 --> 00:35:40.060
Costco, a retailer that does
invest in its employees, that

00:35:40.060 --> 00:35:43.120
does go the high
road, as we call it,

00:35:43.120 --> 00:35:45.550
that says we're going to
invest in our employees.

00:35:45.550 --> 00:35:48.010
We're going to make
them more productive

00:35:48.010 --> 00:35:49.420
than our competitors.

00:35:49.420 --> 00:35:50.980
And by making them
more productive,

00:35:50.980 --> 00:35:53.350
we can afford to pay
them a higher wage.

00:35:53.350 --> 00:35:54.449
This is not charity.

00:35:54.449 --> 00:35:56.240
This is the way we're
going to do business.

00:35:56.240 --> 00:35:58.840
This is the way we're going
to meet our customer needs.

00:35:58.840 --> 00:36:03.220
And it's been very successful
in doing so financially.

00:36:03.220 --> 00:36:06.640
And it provides a high
level of customer service,

00:36:06.640 --> 00:36:11.230
and it has a loyal customer base
and also provides good jobs.

00:36:11.230 --> 00:36:13.390
And we compared
that with Walmart.

00:36:13.390 --> 00:36:17.320
Walmart is worldwide, one of
the largest private employers

00:36:17.320 --> 00:36:21.040
in the world perhaps,
certainly here in North America

00:36:21.040 --> 00:36:24.940
it is and in many of the
countries represented

00:36:24.940 --> 00:36:26.230
in this course.

00:36:26.230 --> 00:36:29.080
And Walmart does a lot
of very good things

00:36:29.080 --> 00:36:30.190
for the environment.

00:36:30.190 --> 00:36:32.410
Walmart was one of
the first corporations

00:36:32.410 --> 00:36:36.100
to respond when we had
this terrible Hurricane

00:36:36.100 --> 00:36:39.100
Katrina in New Orleans in 2005.

00:36:39.100 --> 00:36:42.220
And it sent, before
anybody asked it to do it,

00:36:42.220 --> 00:36:45.340
trucks of water and
support and food

00:36:45.340 --> 00:36:47.920
to help the victims
of that hurricane.

00:36:47.920 --> 00:36:50.260
So Walmart does a
lot of good things.

00:36:50.260 --> 00:36:53.830
But Walmart also competes on
the basis of just low prices

00:36:53.830 --> 00:36:57.370
and low wages and keeping
unions out and in controlling

00:36:57.370 --> 00:37:00.550
the workforce in
ways that creates

00:37:00.550 --> 00:37:04.420
high levels of turnover, not
such good customer satisfaction

00:37:04.420 --> 00:37:06.670
and service, but low prices.

00:37:06.670 --> 00:37:09.220
And so here we have
the two comparisons

00:37:09.220 --> 00:37:12.280
that allow us to say,
which one do we prefer?

00:37:12.280 --> 00:37:16.560
Could Walmart improve
its organization

00:37:16.560 --> 00:37:19.900
and its performance on the
employment side the same way

00:37:19.900 --> 00:37:22.960
it has demonstrated it can
do on the environmental side

00:37:22.960 --> 00:37:24.610
or on the operations
side, where it

00:37:24.610 --> 00:37:28.000
is as good as any
company in the world?

00:37:28.000 --> 00:37:32.470
If it did, perhaps we could have
a high road retail industry.

00:37:32.470 --> 00:37:36.160
But it holds everybody else
down in the retail industry.

00:37:36.160 --> 00:37:38.680
We used another example
in retail, a local one

00:37:38.680 --> 00:37:42.850
here in the Boston and
New England region, one

00:37:42.850 --> 00:37:47.170
that our colleague Zeynep
Ton did a very good video on,

00:37:47.170 --> 00:37:48.550
called Market Basket.

00:37:48.550 --> 00:37:51.190
And this has now
become kind of an icon

00:37:51.190 --> 00:37:54.250
for a high road
retail firm, a firm

00:37:54.250 --> 00:37:58.000
where the employees, the
high-level executives,

00:37:58.000 --> 00:38:00.790
the store managers, the
clerks, the truck drivers,

00:38:00.790 --> 00:38:03.680
the warehouse workers did
an unprecedented thing,

00:38:03.680 --> 00:38:05.920
something I've never seen
in all the years I've

00:38:05.920 --> 00:38:07.330
been working in this field.

00:38:07.330 --> 00:38:10.820
I never saw a coalition like
that come together to say,

00:38:10.820 --> 00:38:12.940
we are going to stand
up for a high road

00:38:12.940 --> 00:38:16.870
company and a high road CEO who
was being fired by the board

00:38:16.870 --> 00:38:19.150
so that they can
extract more money

00:38:19.150 --> 00:38:21.470
for the owners of the company.

00:38:21.470 --> 00:38:26.500
And for six weeks, they
rallied the employees.

00:38:26.500 --> 00:38:29.770
They basically stopped the
business from functioning.

00:38:29.770 --> 00:38:31.750
They had the loyal support
of their customers,

00:38:31.750 --> 00:38:34.755
because their customers knew
what was at stake for them.

00:38:34.755 --> 00:38:36.130
Because here's a
company that has

00:38:36.130 --> 00:38:37.960
very low prices
but great customer

00:38:37.960 --> 00:38:41.920
service, great community
involvement in stores

00:38:41.920 --> 00:38:45.560
all over New England,
family relationships,

00:38:45.560 --> 00:38:47.620
that people know each
other when they shop

00:38:47.620 --> 00:38:49.300
and they know the employees.

00:38:49.300 --> 00:38:52.570
The employees wear their
tenure in a little badge

00:38:52.570 --> 00:38:54.940
on their shirt.

00:38:54.940 --> 00:38:57.430
And this was all
going to go away.

00:38:57.430 --> 00:38:59.020
And you saw how
the community, how

00:38:59.020 --> 00:39:01.420
the media, how the
employees came together

00:39:01.420 --> 00:39:04.780
to fight for good jobs
and a good company.

00:39:04.780 --> 00:39:06.970
And in the end, the
board of directors

00:39:06.970 --> 00:39:10.180
relented, and they
reinstated the CEO.

00:39:10.180 --> 00:39:13.660
And that company now is not
only successful financially,

00:39:13.660 --> 00:39:15.275
it's expanded.

00:39:15.275 --> 00:39:19.100
The prices have remained low
relative to their competitors.

00:39:19.100 --> 00:39:23.030
And in fact, if you want to go
and see a movie this weekend,

00:39:23.030 --> 00:39:25.600
they're going to premier
a documentary here

00:39:25.600 --> 00:39:27.460
in a local theater
in Somerville, which

00:39:27.460 --> 00:39:32.020
is just near us here
off the MIT campus.

00:39:32.020 --> 00:39:34.150
It's called Food
Fight, but it basically

00:39:34.150 --> 00:39:36.000
tells the story
of the people who

00:39:36.000 --> 00:39:37.660
were involved in that dispute.

00:39:37.660 --> 00:39:41.410
It's a very powerful,
powerful movie.

00:39:41.410 --> 00:39:42.264
I've seen it.

00:39:42.264 --> 00:39:43.930
I don't get any
royalties on it, so this

00:39:43.930 --> 00:39:45.610
isn't a commercial for it.

00:39:45.610 --> 00:39:47.860
But it really is
the best documentary

00:39:47.860 --> 00:39:49.810
of people who have
put their lives

00:39:49.810 --> 00:39:51.820
and their jobs on the
line for something

00:39:51.820 --> 00:39:55.792
they really believed
in, and it worked out

00:39:55.792 --> 00:39:57.982
in a good way for them.

00:39:57.982 --> 00:39:59.190
But there are other examples.

00:39:59.190 --> 00:40:02.320
Southwest Airlines we've
used, Kaiser Permanente,

00:40:02.320 --> 00:40:03.370
highly unionized.

00:40:03.370 --> 00:40:05.350
Southwest is highly unionized.

00:40:05.350 --> 00:40:08.170
Labor management partnerships,
where they are working together

00:40:08.170 --> 00:40:09.700
to improve health care.

00:40:09.700 --> 00:40:12.940
We know that the
bundle of practices

00:40:12.940 --> 00:40:15.330
that are necessary
to make this work

00:40:15.330 --> 00:40:18.730
move from good
operations strategy--

00:40:18.730 --> 00:40:21.130
that is, you really need
to manage your inventory.

00:40:21.130 --> 00:40:22.870
You need to manage
your operations.

00:40:22.870 --> 00:40:26.900
You have to have good
efficient practices

00:40:26.900 --> 00:40:30.470
if you're a manufacturer or
if you're a service provider.

00:40:30.470 --> 00:40:34.700
And that has to be matched with
effective use of technologies,

00:40:34.700 --> 00:40:36.650
but also training
of the workforce,

00:40:36.650 --> 00:40:39.140
of respecting the
workforce, for asking

00:40:39.140 --> 00:40:42.050
the workforce for their
engagement and their ideas

00:40:42.050 --> 00:40:46.785
on how to improve operations
over time, for including

00:40:46.785 --> 00:40:51.200
the concerns for work and family
and finding that balance that

00:40:51.200 --> 00:40:54.540
makes the most sense for the
nature of the organization.

00:40:54.540 --> 00:40:57.140
It means that you have to
have a business strategy that

00:40:57.140 --> 00:40:59.900
supports innovation and
good customer service

00:40:59.900 --> 00:41:02.870
and values those
kinds of features

00:41:02.870 --> 00:41:04.970
as a way of doing business.

00:41:04.970 --> 00:41:08.210
The way Southwest does
it, they turn those planes

00:41:08.210 --> 00:41:10.460
around more quickly
than anyone else

00:41:10.460 --> 00:41:12.500
when a plane lands,
from the time

00:41:12.500 --> 00:41:15.320
it lands to the time it takes
off, because people are working

00:41:15.320 --> 00:41:18.140
together in teams in
very flexible ways

00:41:18.140 --> 00:41:20.000
and solving problems
for each other

00:41:20.000 --> 00:41:21.830
and meeting customers' needs.

00:41:21.830 --> 00:41:23.720
And so that's the
way in which we

00:41:23.720 --> 00:41:27.560
know one can build a company
that works financially

00:41:27.560 --> 00:41:31.340
for the share owners
and the investors

00:41:31.340 --> 00:41:35.000
and also works for customers
and can work for employees.

00:41:35.000 --> 00:41:37.130
But it takes a lot of hard work.

00:41:37.130 --> 00:41:39.440
And so one of the
questions we always have

00:41:39.440 --> 00:41:41.900
is, well, why is it--

00:41:41.900 --> 00:41:45.140
why is it that it's
so hard to see that?

00:41:45.140 --> 00:41:47.520
And is the privates--

00:41:47.520 --> 00:41:51.290
or the public corporation
the only way to do it?

00:41:51.290 --> 00:41:53.390
Some companies,
some organizations,

00:41:53.390 --> 00:41:56.060
are turning to different
organizational forms

00:41:56.060 --> 00:41:57.450
to make this happen.

00:41:57.450 --> 00:41:59.030
And this is just
a sampling, and we

00:41:59.030 --> 00:42:02.450
talked about these throughout
the class at various points

00:42:02.450 --> 00:42:03.390
as well.

00:42:03.390 --> 00:42:07.430
Many of you know about
Patagonia, this clothing maker.

00:42:07.430 --> 00:42:09.160
And in fact, Patagonia--

00:42:09.160 --> 00:42:11.540
I'll tell you a story
that's going on right now

00:42:11.540 --> 00:42:16.820
here in one of our
communities northwest of here

00:42:16.820 --> 00:42:21.500
called Lawrence, Massachusetts,
an old textile industry

00:42:21.500 --> 00:42:27.470
town that is very highly
populated by immigrants now,

00:42:27.470 --> 00:42:33.350
Latinos largely and people
from various parts of Latin

00:42:33.350 --> 00:42:34.820
and South America.

00:42:34.820 --> 00:42:38.120
And there was a plant there
that was privately owned.

00:42:38.120 --> 00:42:39.680
It was called Malden Mills.

00:42:39.680 --> 00:42:43.820
And in the 1990s-- and
it was owned by a fellow

00:42:43.820 --> 00:42:46.460
by the name of Aaron
Feuerstein, who

00:42:46.460 --> 00:42:49.040
had a very good relationship
with the workers,

00:42:49.040 --> 00:42:51.620
with the community, with
the union in that plant,

00:42:51.620 --> 00:42:53.127
providing decent jobs.

00:42:53.127 --> 00:42:54.335
And they had a terrible fire.

00:42:54.335 --> 00:42:58.700
And I think it was 1995 or
1997, the plant burned down.

00:42:58.700 --> 00:43:01.070
And Aaron Feuerstein said,
we're going to rebuild it.

00:43:01.070 --> 00:43:02.750
And by God, while
we're rebuilding it,

00:43:02.750 --> 00:43:05.960
I'm going to make sure that
the employees still get paid.

00:43:05.960 --> 00:43:08.060
And this made national news.

00:43:08.060 --> 00:43:10.190
And he did it not
for the publicity.

00:43:10.190 --> 00:43:12.974
He did it because he wanted
to hold onto that workforce.

00:43:12.974 --> 00:43:14.390
And he was committed
to it, and he

00:43:14.390 --> 00:43:17.510
knew that that
workforce had made

00:43:17.510 --> 00:43:19.320
his family very prosperous.

00:43:19.320 --> 00:43:22.710
And they rebuilt the
plant, made it more modern,

00:43:22.710 --> 00:43:24.770
has succeeded over time.

00:43:24.770 --> 00:43:28.190
When Feuerstein retired, it then
got bought by a private equity

00:43:28.190 --> 00:43:29.150
firm.

00:43:29.150 --> 00:43:31.190
That private equity
firm now wants

00:43:31.190 --> 00:43:34.790
to close it down and move it
to another part of the country

00:43:34.790 --> 00:43:37.400
or move it offshore.

00:43:37.400 --> 00:43:41.150
And so the employees
and their union

00:43:41.150 --> 00:43:44.030
have turned to Patagonia,
because they make Polartec,

00:43:44.030 --> 00:43:47.560
and Patagonia is a big
purchaser of Polartec,

00:43:47.560 --> 00:43:50.960
and said to Patagonia, why
don't you buy this plant?

00:43:50.960 --> 00:43:53.000
Why don't you buy
this business and keep

00:43:53.000 --> 00:43:55.260
us going in a viable way?

00:43:55.260 --> 00:43:58.550
So here's another case where
some choices about how do we

00:43:58.550 --> 00:44:01.520
sustain decent
quality employment

00:44:01.520 --> 00:44:04.400
with a very good business,
with a very good product,

00:44:04.400 --> 00:44:06.500
that is serving
lots of customers

00:44:06.500 --> 00:44:11.210
in very innovative ways
and in various kinds

00:44:11.210 --> 00:44:13.580
of sport clothing.

00:44:13.580 --> 00:44:16.940
Can we find a way to
sustain that business?

00:44:16.940 --> 00:44:18.680
I don't know what
the answer will be.

00:44:18.680 --> 00:44:21.770
But it's playing out
quietly at the moment

00:44:21.770 --> 00:44:26.630
about 40 miles from here,
from the MIT campus.

00:44:26.630 --> 00:44:27.660
We have other examples--

00:44:27.660 --> 00:44:28.340
Mondragon.

00:44:28.340 --> 00:44:33.440
It's a Spanish co-operative
that built over time

00:44:33.440 --> 00:44:35.780
to become a major
industrial enterprise

00:44:35.780 --> 00:44:37.700
in that part of the
world and, in fact,

00:44:37.700 --> 00:44:40.280
has operations around
the world, including

00:44:40.280 --> 00:44:43.670
here in the United States.

00:44:43.670 --> 00:44:45.680
Employee-owned companies.

00:44:45.680 --> 00:44:48.454
We used a couple of
different brewery examples.

00:44:48.454 --> 00:44:50.120
And this one happens
to be a local one--

00:44:50.120 --> 00:44:51.080
Harpoon.

00:44:51.080 --> 00:44:54.200
I put it up there because
I tend to like their beer,

00:44:54.200 --> 00:44:57.700
and I like the fact that
they are also employee-owned.

00:44:57.700 --> 00:44:59.510
But it's a fine organization.

00:44:59.510 --> 00:45:01.670
Again, this is not a
commercial for their beer.

00:45:01.670 --> 00:45:03.980
But if you ever have
the opportunity,

00:45:03.980 --> 00:45:06.050
I wouldn't discourage
you from trying it.

00:45:09.470 --> 00:45:11.120
It's well-made.

00:45:11.120 --> 00:45:13.800
And then my favorite example--

00:45:13.800 --> 00:45:15.680
people here a little
sick of hearing it--

00:45:15.680 --> 00:45:17.720
about my Green Bay
Packer football team.

00:45:17.720 --> 00:45:20.540
But here's a little town,
Green Bay, Wisconsin,

00:45:20.540 --> 00:45:23.570
that supports a football
team because the football

00:45:23.570 --> 00:45:25.210
team is owned by the community.

00:45:25.210 --> 00:45:27.830
There's no way that that
football team would have lasted

00:45:27.830 --> 00:45:31.670
from 1927, when they were
first formed, and stayed

00:45:31.670 --> 00:45:35.630
in Green Bay up until today
and will stay there forever,

00:45:35.630 --> 00:45:38.860
because the community owns
it, and it can't be sold.

00:45:38.860 --> 00:45:41.450
It can't be sold to
some investor who

00:45:41.450 --> 00:45:46.340
wants to have a hobby because
he or she's made their fortunes,

00:45:46.340 --> 00:45:48.660
and therefore they just
want a football team.

00:45:48.660 --> 00:45:51.020
This is something
that builds community

00:45:51.020 --> 00:45:52.910
and the loyalty to
that organization

00:45:52.910 --> 00:45:54.860
and to that football
team, carries on

00:45:54.860 --> 00:45:57.950
even for those of us who have
moved away for many years.

00:45:57.950 --> 00:46:00.020
So we can build
these organizations.

00:46:00.020 --> 00:46:02.150
We can use different kind
of governance models,

00:46:02.150 --> 00:46:05.930
we can use different kinds
of business strategies,

00:46:05.930 --> 00:46:09.860
but we have to respect
the need to respect

00:46:09.860 --> 00:46:13.520
the rights of employees, respect
the need to manage in a way

00:46:13.520 --> 00:46:17.030
that makes the organization
successful, as well

00:46:17.030 --> 00:46:20.870
as responsive to
employee concerns.

00:46:20.870 --> 00:46:24.140
And so you have strong views.

00:46:24.140 --> 00:46:27.020
Just as you had strong
views about the corporation,

00:46:27.020 --> 00:46:29.690
there was a lively
debate on the discussion

00:46:29.690 --> 00:46:33.770
board about these high road
firms and low road firms.

00:46:33.770 --> 00:46:36.920
And you recognize,
this quote recognizes,

00:46:36.920 --> 00:46:40.310
that some firms have a natural
affinity to being a high road

00:46:40.310 --> 00:46:43.100
firm, because it's consistent
with their business strategy.

00:46:43.100 --> 00:46:44.870
That is, they say
here that if you

00:46:44.870 --> 00:46:47.660
want to compete on the
basis of innovation,

00:46:47.660 --> 00:46:50.520
and that's part of the
core business strategy,

00:46:50.520 --> 00:46:52.820
then you're more likely
to be a high road firm.

00:46:52.820 --> 00:46:56.220
But what about firms that don't
have that business strategy?

00:46:56.220 --> 00:46:58.640
How are we going to
get them to do it,

00:46:58.640 --> 00:47:02.810
and how are we going to get more
firms to compete on this basis?

00:47:02.810 --> 00:47:04.700
Well, that's the big question.

00:47:04.700 --> 00:47:06.710
The answer that comes
here is it's only

00:47:06.710 --> 00:47:11.030
going to come if there's
pressure from employees.

00:47:11.030 --> 00:47:14.059
If employees themselves
start to raise their voices,

00:47:14.059 --> 00:47:14.850
and how to do this.

00:47:14.850 --> 00:47:18.260
So I would ask you, I would
ask the people in this room,

00:47:18.260 --> 00:47:20.060
if you were to move
forward and try

00:47:20.060 --> 00:47:24.080
to move us to see
high road firms spread

00:47:24.080 --> 00:47:28.190
more rapidly and more
broadly cross our industries,

00:47:28.190 --> 00:47:30.560
so that more people
in our economy

00:47:30.560 --> 00:47:33.020
could benefit from
these strategies, what

00:47:33.020 --> 00:47:33.961
needs to be done?

00:47:37.650 --> 00:47:40.770
And if you have ideas online,
put them on the discussion

00:47:40.770 --> 00:47:45.720
board, send us your comments
on Twitter, but this, to me,

00:47:45.720 --> 00:47:51.390
is the most
challenging question.

00:47:51.390 --> 00:47:53.610
As you think about your
answer, some of you

00:47:53.610 --> 00:47:57.210
recall that two weeks ago,
we were fortunate enough

00:47:57.210 --> 00:47:59.940
to have the Secretary
of Labor, Tom Perez,

00:47:59.940 --> 00:48:04.500
come and speak to our
MIT Sloan School MBAs,

00:48:04.500 --> 00:48:06.220
and he posed that question.

00:48:06.220 --> 00:48:09.510
And he challenged the
future leaders in the MBA

00:48:09.510 --> 00:48:12.300
and in the Sloan community
to manage in the ways

00:48:12.300 --> 00:48:13.890
that we're talking about here.

00:48:13.890 --> 00:48:16.140
But privately, as
we talked about it,

00:48:16.140 --> 00:48:19.800
he too, asked me and
others, what can we do?

00:48:19.800 --> 00:48:25.140
What can we do to spread these
kinds of practices more widely?

00:48:25.140 --> 00:48:27.930
And so I'm asking you.

00:48:27.930 --> 00:48:28.430
Leo?

00:48:28.430 --> 00:48:32.050
AUDIENCE: I think there's
one thing that [INAUDIBLE]

00:48:32.050 --> 00:48:33.320
additional policies.

00:48:33.320 --> 00:48:37.490
Some policies are necessary, by
just worker voice and stronger

00:48:37.490 --> 00:48:39.690
unions, but also, even
higher minimum wage.

00:48:39.690 --> 00:48:43.815
If minimum wage is higher,
and [INAUDIBLE] salaries would

00:48:43.815 --> 00:48:46.620
be higher, that put
pressure on the companies

00:48:46.620 --> 00:48:49.506
to train their workers and
have more productive workers.

00:48:49.506 --> 00:48:50.880
Because if you're
going to have--

00:48:50.880 --> 00:48:53.220
you're going to be forced
to pay a better salary,

00:48:53.220 --> 00:48:56.390
you're going to try to
extract that value that you

00:48:56.390 --> 00:48:58.890
obtaining, the only way you can
do is by training them more.

00:48:58.890 --> 00:48:59.515
TOM KOCHAN: OK.

00:48:59.515 --> 00:49:01.320
AUDIENCE: And having them like--

00:49:01.320 --> 00:49:01.922
being better.

00:49:01.922 --> 00:49:03.630
And you're also giving
workers protection

00:49:03.630 --> 00:49:05.622
from being laid
off so easily, so

00:49:05.622 --> 00:49:07.580
that also commits the
company a little bit more

00:49:07.580 --> 00:49:08.420
to their workers.

00:49:08.420 --> 00:49:10.590
So in that sense, you
can create maybe a more--

00:49:10.590 --> 00:49:11.298
TOM KOCHAN: Yeah.

00:49:11.298 --> 00:49:15.960
So Leo is reflecting a
view that many people hold,

00:49:15.960 --> 00:49:18.450
that we got to bring up
the floor of the low road,

00:49:18.450 --> 00:49:21.120
and we've got a higher
minimum wage, stronger

00:49:21.120 --> 00:49:24.000
enforcement of other
Labor Standards perhaps,

00:49:24.000 --> 00:49:27.190
that's going to create
some incentives.

00:49:27.190 --> 00:49:30.990
You know, Wal-Mart did raise
its wages by $1 an hour

00:49:30.990 --> 00:49:34.590
above the minimum wage in
response to employee pressure.

00:49:34.590 --> 00:49:36.630
Now what that requires
McDonald's to get

00:49:36.630 --> 00:49:38.874
the return on that
increased wage,

00:49:38.874 --> 00:49:40.540
is they've got to
start to train people.

00:49:40.540 --> 00:49:42.248
They've got to hold
on to their employees

00:49:42.248 --> 00:49:44.190
more, for a longer
period of time.

00:49:44.190 --> 00:49:46.410
Whether they will do that
or not, I don't know.

00:49:46.410 --> 00:49:50.610
But absolutely it sets in
motion some of the dynamics that

00:49:50.610 --> 00:49:52.574
create a stronger incentive.

00:49:52.574 --> 00:49:53.520
Greg?

00:49:53.520 --> 00:49:55.062
AUDIENCE: This is
going back to stuff

00:49:55.062 --> 00:49:57.103
we talked about in the
beginning of the semester,

00:49:57.103 --> 00:49:59.552
but I think getting the right
investors on board, if you--

00:49:59.552 --> 00:49:59.900
TOM KOCHAN: Uh huh.

00:49:59.900 --> 00:50:01.030
AUDIENCE: --need
investors is critical.

00:50:01.030 --> 00:50:01.738
TOM KOCHAN: Good.

00:50:01.738 --> 00:50:04.229
AUDIENCE: And I think that
a lot of the [INAUDIBLE]

00:50:04.229 --> 00:50:06.278
at MIT where people
talk about making sure

00:50:06.278 --> 00:50:08.154
if you're an early
stage [INAUDIBLE]

00:50:08.154 --> 00:50:10.499
get investors that are
aligned what you want.

00:50:10.499 --> 00:50:13.009
I think too often,
we see investors

00:50:13.009 --> 00:50:15.050
that push companies to
try scale really quickly--

00:50:15.050 --> 00:50:15.716
TOM KOCHAN: Yep.

00:50:15.716 --> 00:50:18.494
AUDIENCE: --and a lot of
that necessitates sacrifices

00:50:18.494 --> 00:50:21.120
that this quote kind of talks
about, but I don't think you

00:50:21.120 --> 00:50:23.610
have that motivation,
unless you have

00:50:23.610 --> 00:50:25.932
someone else who kind of
can give you that pressure

00:50:25.932 --> 00:50:27.594
and try to force you to take it.

00:50:27.594 --> 00:50:30.010
TOM KOCHAN: So picking your
investors is really important.

00:50:30.010 --> 00:50:33.030
And in one of the
videos that we did

00:50:33.030 --> 00:50:35.130
for the course, Scott
Stern, one of our colleagues

00:50:35.130 --> 00:50:37.230
who teaches
entrepreneurial strategy,

00:50:37.230 --> 00:50:41.622
is one of our best people in
this field, makes that point.

00:50:41.622 --> 00:50:43.830
And in fact, there'll be a
slide that will illustrate

00:50:43.830 --> 00:50:46.830
this just in a few minutes.

00:50:46.830 --> 00:50:48.570
But absolutely.

00:50:48.570 --> 00:50:52.114
Picking your investors
is really critical.

00:50:52.114 --> 00:50:52.613
Ben?

00:50:52.613 --> 00:50:54.630
AUDIENCE: I wonder
how hard it is

00:50:54.630 --> 00:50:57.030
to change the
momentum of something

00:50:57.030 --> 00:50:58.660
like Wal-Mart, who's
publicly traded.

00:50:58.660 --> 00:51:01.320
But for example, with
Harpoon it had the option

00:51:01.320 --> 00:51:03.320
of being bought out,
and they consciously

00:51:03.320 --> 00:51:06.960
made a decision as
privately held company

00:51:06.960 --> 00:51:09.120
to move towards employee owned.

00:51:09.120 --> 00:51:11.740
So is it too hard to
manipulate Wal-Mart,

00:51:11.740 --> 00:51:16.170
and should we just
focus on advancing

00:51:16.170 --> 00:51:18.750
the Costcos, and the Market
Baskets, and the Harpoons,

00:51:18.750 --> 00:51:24.870
and the Allagashes of the world,
and just kind of let Wal-Mart

00:51:24.870 --> 00:51:28.442
reap what it sows with its
illegal labor practices.

00:51:28.442 --> 00:51:30.150
TOM KOCHAN: Well,
that's a good question.

00:51:30.150 --> 00:51:32.130
I'm not sure that
I have the answer.

00:51:32.130 --> 00:51:34.950
Should we let Wal-Mart alone
because it's the toughest nut

00:51:34.950 --> 00:51:38.530
to crack in some ways, or
because it's the biggest--

00:51:38.530 --> 00:51:40.080
it would have the
biggest effect,

00:51:40.080 --> 00:51:42.030
should we put resources there.

00:51:42.030 --> 00:51:48.090
I do believe that it's a sign
of some mental problems when

00:51:48.090 --> 00:51:51.420
you keep beating yourself
against a wall, right?

00:51:51.420 --> 00:51:53.760
And I think if you
can't really change it,

00:51:53.760 --> 00:51:56.790
then you have to go where you
can really bring about change.

00:51:56.790 --> 00:52:00.630
Yes, we should perhaps
continue to put pressure

00:52:00.630 --> 00:52:03.420
on companies like
Wal-Mart, but perhaps we

00:52:03.420 --> 00:52:05.490
have to go where the
opportunities are.

00:52:05.490 --> 00:52:07.890
And that's why
courses like this,

00:52:07.890 --> 00:52:11.250
educating the next
generation of leaders, is so,

00:52:11.250 --> 00:52:12.870
I think, important.

00:52:12.870 --> 00:52:14.780
Because we can
make a difference.

00:52:14.780 --> 00:52:18.060
And if we can get people
to think about the choices

00:52:18.060 --> 00:52:20.010
and know that
they've got choices,

00:52:20.010 --> 00:52:22.680
and recognize that there are
some directions that they can

00:52:22.680 --> 00:52:26.850
take their company, and as
you go out into the companies

00:52:26.850 --> 00:52:30.180
that you will be employed in and
the people in the online course

00:52:30.180 --> 00:52:32.460
go out and work in a
variety of settings,

00:52:32.460 --> 00:52:34.590
you can be raising
these questions.

00:52:34.590 --> 00:52:37.440
And in fact, I'll
tell you a secret.

00:52:37.440 --> 00:52:41.370
There are some Sloan School
graduates in some companies

00:52:41.370 --> 00:52:44.740
not to be mentioned,
but similar to what

00:52:44.740 --> 00:52:46.380
we're talking
about here, who are

00:52:46.380 --> 00:52:49.920
raising those questions
today, and bringing some

00:52:49.920 --> 00:52:53.240
of their executives back to
campus to see if they can learn

00:52:53.240 --> 00:52:56.780
more about what would it
take, is it possible to do it.

00:52:56.780 --> 00:53:02.540
So I'm maybe an internal
optimist on this.

00:53:02.540 --> 00:53:06.080
I'm not naive, it's
a big road to travel,

00:53:06.080 --> 00:53:08.270
but I think we can
make a difference.

00:53:08.270 --> 00:53:11.360
And so I want to go where the
opportunities are, perhaps more

00:53:11.360 --> 00:53:15.230
than where the
resistance is greatest.

00:53:15.230 --> 00:53:21.020
Well, this is just one way of
proceeding with the high road

00:53:21.020 --> 00:53:23.030
strategies that are
really important,

00:53:23.030 --> 00:53:25.280
there are opportunities
for moving forward.

00:53:25.280 --> 00:53:29.180
And you had-- the folks
in the online course--

00:53:29.180 --> 00:53:32.540
have had the experience
of testing this idea.

00:53:32.540 --> 00:53:34.520
Because one of the
assignments was

00:53:34.520 --> 00:53:38.540
to go out and interview
someone in an organization,

00:53:38.540 --> 00:53:41.210
in an industry of
interest to you,

00:53:41.210 --> 00:53:44.330
and you asked them a
series of questions

00:53:44.330 --> 00:53:46.400
that come from the
research that's

00:53:46.400 --> 00:53:49.340
been done on what does it
take to build a high road,

00:53:49.340 --> 00:53:51.590
high performance
work organization,

00:53:51.590 --> 00:53:53.690
and what does it take
to meet the aspirations

00:53:53.690 --> 00:53:57.140
of the workforce to have
satisfying work experiences.

00:53:57.140 --> 00:54:01.220
And that battery of
questions then ended

00:54:01.220 --> 00:54:06.310
with a very simple
question to the student who

00:54:06.310 --> 00:54:08.990
was collecting the data on
the basis of an interview

00:54:08.990 --> 00:54:11.570
with an employee, and
said to the student,

00:54:11.570 --> 00:54:14.420
if you were offered a
job in this organization,

00:54:14.420 --> 00:54:16.350
would you take it or not.

00:54:16.350 --> 00:54:19.730
And the numbers, the raw
numbers were 60% said yes,

00:54:19.730 --> 00:54:21.560
but 40% said no.

00:54:21.560 --> 00:54:23.330
I didn't hear that
this was the kind

00:54:23.330 --> 00:54:25.190
of organizational
environment that

00:54:25.190 --> 00:54:29.161
would allow me to use my skills,
or to have a satisfying work

00:54:29.161 --> 00:54:29.660
experience.

00:54:29.660 --> 00:54:32.600
That's a pretty
remarkable distribution,

00:54:32.600 --> 00:54:37.190
that 40% after hearing about an
organization, say no thank you,

00:54:37.190 --> 00:54:39.350
I don't think I would
take a job there.

00:54:39.350 --> 00:54:41.160
I think we've got a
lot of work to do.

00:54:41.160 --> 00:54:42.860
But the good news
in this is that you

00:54:42.860 --> 00:54:45.410
do a little bit of
statistical analysis,

00:54:45.410 --> 00:54:49.820
and you ask do these high
performance, high road

00:54:49.820 --> 00:54:53.150
characteristics and
good job characteristics

00:54:53.150 --> 00:54:56.600
predict whether someone
would take a job or not.

00:54:56.600 --> 00:54:59.540
The good news for employers
is that if you provide

00:54:59.540 --> 00:55:04.170
these kinds of opportunities
and features in your workplace,

00:55:04.170 --> 00:55:07.340
you have a 75% chance
of attracting the talent

00:55:07.340 --> 00:55:08.210
that you need.

00:55:08.210 --> 00:55:11.960
That people will accept a job,
it's not 60%, it's now 75%.

00:55:11.960 --> 00:55:15.920
That's a substantial
change, and so the good news

00:55:15.920 --> 00:55:18.680
is that firms can attract
the kind of talent

00:55:18.680 --> 00:55:20.390
and perhaps retain
the kind of talent

00:55:20.390 --> 00:55:24.410
that they need to support a
high performance organization,

00:55:24.410 --> 00:55:29.700
if they invest and engage in
the right set of practices.

00:55:29.700 --> 00:55:31.550
So that's another
reason why I think

00:55:31.550 --> 00:55:33.110
we need to do more of this.

00:55:33.110 --> 00:55:34.940
We need to keep
asking about what's

00:55:34.940 --> 00:55:37.760
going on in organizations.

00:55:37.760 --> 00:55:42.380
There is a growing number
of online platforms

00:55:42.380 --> 00:55:46.130
and various kinds of use
of information technology

00:55:46.130 --> 00:55:49.850
that we'll talk about in just
a moment that is providing

00:55:49.850 --> 00:55:51.980
more information on firms.

00:55:51.980 --> 00:55:54.440
Glass Door is probably
the best known,

00:55:54.440 --> 00:55:57.990
where it collects employee
ratings of their employer.

00:55:57.990 --> 00:56:00.600
Well, we need to use
that kind of data--

00:56:00.600 --> 00:56:06.300
those data to understand
what is the difference

00:56:06.300 --> 00:56:09.330
between an attractive
place to work

00:56:09.330 --> 00:56:11.700
and a less attractive
place to work, and then

00:56:11.700 --> 00:56:16.260
use our skills to move to
where the good jobs are,

00:56:16.260 --> 00:56:20.580
so that we discipline, and again
bring up the lower road firms.

00:56:20.580 --> 00:56:24.340
So I'm encouraged by the
good jobs survey exercise.

00:56:24.340 --> 00:56:27.090
I hope people do that,
maybe informally.

00:56:27.090 --> 00:56:30.000
You don't have to go out and
ask 25 questions every time,

00:56:30.000 --> 00:56:31.890
but you can ask
the key questions,

00:56:31.890 --> 00:56:33.690
because you know what
they are, and you

00:56:33.690 --> 00:56:35.410
know what you're
looking for, and you

00:56:35.410 --> 00:56:38.350
know what's really important.

00:56:38.350 --> 00:56:42.580
Then we came to this
question about well, unions.

00:56:42.580 --> 00:56:45.670
Unions have this great
phrase in the United States.

00:56:45.670 --> 00:56:48.250
In the 20th century,
they say, we're

00:56:48.250 --> 00:56:51.300
the organization that
brought you the weekend,

00:56:51.300 --> 00:56:52.610
and they're right.

00:56:52.610 --> 00:56:55.350
They're the organization that
really negotiated more time

00:56:55.350 --> 00:57:01.470
off, holiday pay, vacation
pay, sick leave, weekend

00:57:01.470 --> 00:57:06.970
over time rates for working
the unattractive hours,

00:57:06.970 --> 00:57:10.080
or working more than
40 hours, and so on.

00:57:10.080 --> 00:57:13.590
And so unions have a very long
history in the United States

00:57:13.590 --> 00:57:18.040
and around the world for
improving wages, hours,

00:57:18.040 --> 00:57:21.270
and working conditions
and helping to lift up

00:57:21.270 --> 00:57:24.037
the standards in our
economies, but we all know that

00:57:24.037 --> 00:57:25.620
particularly here
in the United States

00:57:25.620 --> 00:57:27.690
but in many countries
around the world,

00:57:27.690 --> 00:57:29.400
unions are on the decline.

00:57:29.400 --> 00:57:33.420
And in fact, many people,
probably in the online course,

00:57:33.420 --> 00:57:36.090
never even thought
much about unions.

00:57:36.090 --> 00:57:38.160
Many of the people here
at the Sloan School.

00:57:38.160 --> 00:57:40.650
It's not on the front
burner of their minds

00:57:40.650 --> 00:57:46.020
to think about unions as a
force for economic advancement,

00:57:46.020 --> 00:57:49.350
in our economy or in their
particular work lives.

00:57:49.350 --> 00:57:53.490
So we felt it was important
to engage this question.

00:57:53.490 --> 00:57:54.480
Is there a future?

00:57:54.480 --> 00:57:56.100
Do we still need them?

00:57:56.100 --> 00:57:59.610
And the views were quite
diverse and a good discussion.

00:57:59.610 --> 00:58:02.130
But I think there's a dominant
view that, well, unions

00:58:02.130 --> 00:58:04.560
played an important
role in the past

00:58:04.560 --> 00:58:06.360
in the way in which
they function,

00:58:06.360 --> 00:58:08.910
and they had some
negative features as well.

00:58:08.910 --> 00:58:11.820
They brought maybe
too much rigidity,

00:58:11.820 --> 00:58:15.390
and some work rules that
impeded productivity,

00:58:15.390 --> 00:58:18.390
and that continue to impede
productivity in some cases.

00:58:18.390 --> 00:58:21.330
They were resistant to
change, because people

00:58:21.330 --> 00:58:24.660
got used to the way in
which they were working

00:58:24.660 --> 00:58:28.500
and to the benefits and to their
control over job opportunities

00:58:28.500 --> 00:58:29.340
and so on.

00:58:29.340 --> 00:58:33.850
They restricted access to
union jobs in some cases,

00:58:33.850 --> 00:58:36.610
to their relatives or
people who looked like them.

00:58:36.610 --> 00:58:40.620
And so there's a history of
discrimination in some unions.

00:58:40.620 --> 00:58:42.780
That is not a very
attractive part

00:58:42.780 --> 00:58:44.490
of the history of labor either.

00:58:44.490 --> 00:58:50.640
So unions have a positive and
a negative historical setting--

00:58:50.640 --> 00:58:55.380
or historical record that
we need to understand.

00:58:55.380 --> 00:58:59.130
But the question is what
will replace this void,

00:58:59.130 --> 00:59:02.490
or fill this void, that's
now left in the United States

00:59:02.490 --> 00:59:05.610
and in some other countries
as unions decline?

00:59:05.610 --> 00:59:10.410
Is there a way to revise
unions, rebuild them,

00:59:10.410 --> 00:59:14.160
to create organizations
or entities that advocate

00:59:14.160 --> 00:59:16.890
for workers in a modern way?

00:59:16.890 --> 00:59:19.140
That was a source of discussion.

00:59:19.140 --> 00:59:21.870
It's a source of
debate in this country,

00:59:21.870 --> 00:59:24.420
and in many countries
around the world.

00:59:24.420 --> 00:59:27.720
And basically, I think
most people in the course

00:59:27.720 --> 00:59:31.260
have come to the conclusion
that yes, there is a role,

00:59:31.260 --> 00:59:36.630
but it can't be just, as I put
it in the textbook, your father

00:59:36.630 --> 00:59:38.220
or your grandfather's union.

00:59:38.220 --> 00:59:41.380
Because it was mostly a male
dominated labor movement.

00:59:41.380 --> 00:59:43.370
It no longer, by the way, is.

00:59:43.370 --> 00:59:47.670
We're now in the United
States at just about 50%

00:59:47.670 --> 00:59:52.150
of union members are
women as well as men.

00:59:52.150 --> 00:59:55.500
And so it's changed over time,
but that's kind of the history.

00:59:55.500 --> 01:00:00.170
But there's a recognition
that unions have to change.

01:00:00.170 --> 01:00:03.890
There seems to be, it says
here "a conscious effort

01:00:03.890 --> 01:00:07.130
to revitalize the way
that unions work in order

01:00:07.130 --> 01:00:09.650
to meet the needs of the
most vulnerable workers

01:00:09.650 --> 01:00:13.200
in recent years," particularly,
"in a globalized world."

01:00:13.200 --> 01:00:15.740
So we're seeing
unions try to work

01:00:15.740 --> 01:00:18.560
to deal with the terrible
problems that have occurred,

01:00:18.560 --> 01:00:21.080
for example, in
Bangladesh, where

01:00:21.080 --> 01:00:25.760
the first terrible factory fire
that took over 100 workers'

01:00:25.760 --> 01:00:28.850
lives, and then the terrible
factory collapse that

01:00:28.850 --> 01:00:33.230
took over 1,000 workers' lives
in Bangladesh, where standards

01:00:33.230 --> 01:00:36.110
were not being attended to.

01:00:36.110 --> 01:00:39.800
And so out of that has come
a global effort of unions

01:00:39.800 --> 01:00:42.980
from Europe and from
around the world to say,

01:00:42.980 --> 01:00:46.940
we need to work together with
companies in something that's

01:00:46.940 --> 01:00:50.510
called the Accord, that
is, a negotiated agreement

01:00:50.510 --> 01:00:53.030
for arbitration, for
safety provisions,

01:00:53.030 --> 01:00:55.670
for safety inspections,
and for workers to have

01:00:55.670 --> 01:00:57.800
a voice in that society.

01:00:57.800 --> 01:01:00.440
Long way to go on
that, and in fact,

01:01:00.440 --> 01:01:02.840
some American
corporations say we

01:01:02.840 --> 01:01:04.400
want to address
these issues, but we

01:01:04.400 --> 01:01:07.160
don't want to include
unions in that process.

01:01:07.160 --> 01:01:11.060
So there is a parallel
effort called the Alliance,

01:01:11.060 --> 01:01:16.190
with firms like the Gap and
Wal-Mart and others from the US

01:01:16.190 --> 01:01:17.930
that are going it alone.

01:01:17.930 --> 01:01:19.700
I don't know which
way is the best.

01:01:19.700 --> 01:01:22.430
I'm not an expert
on Bangladesh, I've

01:01:22.430 --> 01:01:25.940
only been there on one
very, very short visit,

01:01:25.940 --> 01:01:29.420
so I wouldn't make a judgment
of what the right strategy is.

01:01:29.420 --> 01:01:32.450
But here we have efforts
to try to do something

01:01:32.450 --> 01:01:35.000
about global labor
standards by bringing

01:01:35.000 --> 01:01:39.440
about some coalition of
the local organizations,

01:01:39.440 --> 01:01:41.210
the local unions to
the extent that they

01:01:41.210 --> 01:01:43.640
exist, international
unions working

01:01:43.640 --> 01:01:47.810
with companies and with brands
to try to enforce standards

01:01:47.810 --> 01:01:49.130
in those factories.

01:01:49.130 --> 01:01:51.240
We talked about
Nike in the course,

01:01:51.240 --> 01:01:53.370
we talked about how they
went through this process.

01:01:53.370 --> 01:01:57.020
We talked about Apple's
struggles in China

01:01:57.020 --> 01:01:59.810
and the suicides and
the terrible conditions

01:01:59.810 --> 01:02:01.760
in organizations like Fox Con.

01:02:01.760 --> 01:02:07.490
This is the front line of
worker voice and representation,

01:02:07.490 --> 01:02:11.540
where we have to invent new
ways to make things work.

01:02:11.540 --> 01:02:16.790
We also talked about the role of
labor management partnerships.

01:02:16.790 --> 01:02:19.550
We've been privileged to
work with Kaiser-Permanente

01:02:19.550 --> 01:02:24.920
for several decades now, in
helping to understand and study

01:02:24.920 --> 01:02:27.350
the labor management
partnership they put in place,

01:02:27.350 --> 01:02:29.330
and to work with
them to improve it.

01:02:29.330 --> 01:02:31.010
Because all of
these institutions

01:02:31.010 --> 01:02:33.050
are sort of fragile,
and there are always

01:02:33.050 --> 01:02:34.950
tensions that are involved.

01:02:34.950 --> 01:02:38.180
But here's an organization
that has worked with its unions

01:02:38.180 --> 01:02:39.180
in health care.

01:02:39.180 --> 01:02:40.640
And now on the
front lines you now

01:02:40.640 --> 01:02:45.860
have 3,500 what they
call unit based teams.

01:02:45.860 --> 01:02:49.790
Teams of employees, doctors,
nurses, technicians, service

01:02:49.790 --> 01:02:52.250
employees, people who--

01:02:52.250 --> 01:02:54.830
the janitors in the
organization work to say

01:02:54.830 --> 01:02:56.960
how can we improve operations?

01:02:56.960 --> 01:02:59.090
How can we reduce
injuries-- back injuries

01:02:59.090 --> 01:02:59.990
for the workforce?

01:02:59.990 --> 01:03:02.990
How can we reduce the
infections that we sometimes

01:03:02.990 --> 01:03:04.280
find in hospitals?

01:03:04.280 --> 01:03:07.490
What are we doing to
change the operation,

01:03:07.490 --> 01:03:09.980
to serve our customers,
to use technology

01:03:09.980 --> 01:03:14.510
to make sure that we're checking
on our clients or our patients

01:03:14.510 --> 01:03:17.042
out there, and saying gee,
I looked on your record

01:03:17.042 --> 01:03:18.500
and I noticed that
you haven't been

01:03:18.500 --> 01:03:21.170
in to fill your
prescriptions, or you

01:03:21.170 --> 01:03:24.260
haven't come in for your
scheduled appointments.

01:03:24.260 --> 01:03:29.360
What's going on, and how can
we get those issues addressed

01:03:29.360 --> 01:03:30.500
more effectively?

01:03:30.500 --> 01:03:33.740
Working in teams, together,
labor and management

01:03:33.740 --> 01:03:35.690
saying this is part
of how we're going

01:03:35.690 --> 01:03:38.690
to create world class
health care delivery, and at

01:03:38.690 --> 01:03:41.760
the same time, then have
industry leading wages.

01:03:41.760 --> 01:03:43.490
And so there are
ways to do this.

01:03:43.490 --> 01:03:46.310
We've learned from
organizations like Saturn that

01:03:46.310 --> 01:03:49.100
started that way, but didn't
get the kind of support

01:03:49.100 --> 01:03:50.480
we've learned from Kaiser.

01:03:50.480 --> 01:03:52.580
We need more of those
kinds of organizations

01:03:52.580 --> 01:03:55.040
according to many of you.

01:03:55.040 --> 01:03:58.450
But you're also thinking
more creatively.

01:03:58.450 --> 01:03:59.980
And there was a
lively discussion--

01:03:59.980 --> 01:04:03.430
I couldn't pass
putting this concept

01:04:03.430 --> 01:04:08.320
of a digital union, which came
right off the discussion board.

01:04:08.320 --> 01:04:11.890
That created quite
a set of comments

01:04:11.890 --> 01:04:15.580
over the course of the term.

01:04:15.580 --> 01:04:17.860
And basically by
digital unions, we're

01:04:17.860 --> 01:04:21.250
really talking about
ways to use information.

01:04:21.250 --> 01:04:23.920
To use online platforms
the way businesses

01:04:23.920 --> 01:04:26.320
are using them, to
share information.

01:04:26.320 --> 01:04:28.730
What-- where are
the good jobs, where

01:04:28.730 --> 01:04:30.310
are there not such good jobs.

01:04:30.310 --> 01:04:32.980
How can we mobilize in China?

01:04:32.980 --> 01:04:36.770
The way workers mobilize today
is through their smartphones.

01:04:36.770 --> 01:04:38.530
They don't have
independent unions,

01:04:38.530 --> 01:04:41.050
but they do have the
technology, and they

01:04:41.050 --> 01:04:43.900
use that to build
their own network when

01:04:43.900 --> 01:04:47.590
they feel most aggrieved and the
need to do something about it.

01:04:47.590 --> 01:04:49.510
Now they have to
often do something

01:04:49.510 --> 01:04:54.020
in a pretty spontaneous
way, and sometimes

01:04:54.020 --> 01:04:57.580
in a very strong
resistance, sometimes

01:04:57.580 --> 01:04:59.170
even in a violent
way, and sometimes

01:04:59.170 --> 01:05:02.560
even holding the
plant manager hostage

01:05:02.560 --> 01:05:09.520
in his or her own facility until
something can be negotiated.

01:05:09.520 --> 01:05:12.400
But they're using
technology to try

01:05:12.400 --> 01:05:16.870
to find new ways of
meeting worker needs.

01:05:16.870 --> 01:05:21.550
Then there are other
organizations that we cited.

01:05:21.550 --> 01:05:25.256
Different kinds of organizations
that aren't even called unions.

01:05:25.256 --> 01:05:27.130
Some of them use the
term, but they're really

01:05:27.130 --> 01:05:30.580
outside of the traditional
form of unions.

01:05:30.580 --> 01:05:33.760
This one up in the upper
left hand corner here,

01:05:33.760 --> 01:05:37.730
Restaurant Opportunities
Center, was cited in the course

01:05:37.730 --> 01:05:40.510
a number of times, but
it's worth focusing on,

01:05:40.510 --> 01:05:43.090
because it's a very
interesting organization that

01:05:43.090 --> 01:05:45.210
came out of a tragedy.

01:05:45.210 --> 01:05:49.270
It was formed after
our terrible experience

01:05:49.270 --> 01:05:55.750
in September 11th, when
the Twin Towers in New York

01:05:55.750 --> 01:05:58.360
collapsed from a
terrorist attack.

01:05:58.360 --> 01:06:01.480
And out of that,
there was a restaurant

01:06:01.480 --> 01:06:04.600
called the Windows on the
World at the top that obviously

01:06:04.600 --> 01:06:11.410
collapsed with it, and many
employees died in that tragedy.

01:06:11.410 --> 01:06:13.240
And so this
organization was formed

01:06:13.240 --> 01:06:16.570
to try to deal with the
families and to help people cope

01:06:16.570 --> 01:06:18.940
with that terrible disaster.

01:06:18.940 --> 01:06:22.180
And what it's evolved
into is an organization

01:06:22.180 --> 01:06:25.870
that works to both improve
job conditions for people

01:06:25.870 --> 01:06:31.150
in restaurants, but also
to publicize good practices

01:06:31.150 --> 01:06:34.270
for sustainable food,
and for food preparation,

01:06:34.270 --> 01:06:38.050
and for the way in which
the workforce is treated,

01:06:38.050 --> 01:06:40.000
the way in which the
customers are treated.

01:06:40.000 --> 01:06:42.730
They encourage customers
to rate not only

01:06:42.730 --> 01:06:46.270
the quality of the food, but
also the quality of the working

01:06:46.270 --> 01:06:49.090
conditions, and ask about
it in the restaurants.

01:06:49.090 --> 01:06:51.070
And they're working
to stay outside

01:06:51.070 --> 01:06:54.910
of the traditions
of labor relations,

01:06:54.910 --> 01:06:57.760
to find new ways
to train employees,

01:06:57.760 --> 01:07:00.964
to provide information
on where good jobs are,

01:07:00.964 --> 01:07:03.130
to make sure that they are
taking care of the safety

01:07:03.130 --> 01:07:05.320
and health and providing
more information,

01:07:05.320 --> 01:07:07.450
and working with
restaurant owners.

01:07:07.450 --> 01:07:11.410
They are working with some of
the most innovative restaurant

01:07:11.410 --> 01:07:13.390
owners in New York
and in San Francisco

01:07:13.390 --> 01:07:14.700
and in other country--

01:07:14.700 --> 01:07:16.780
other cities in
the United States,

01:07:16.780 --> 01:07:20.540
to promote this as part of
their good company, good job

01:07:20.540 --> 01:07:21.710
strategy.

01:07:21.710 --> 01:07:24.430
And so this is just
another way in which

01:07:24.430 --> 01:07:28.630
creative minds, young people,
in this case, young people

01:07:28.630 --> 01:07:31.600
and immigrants working
together, largely, to say we

01:07:31.600 --> 01:07:36.280
can find ways to do this
in a modern fashion that

01:07:36.280 --> 01:07:41.260
is responsive to both
consumers, to employees,

01:07:41.260 --> 01:07:43.150
and to the businesses
that operate.

01:07:43.150 --> 01:07:46.240
So I think we're in
an interesting time.

01:07:46.240 --> 01:07:50.030
Will these grow to be large
enough to have an effect?

01:07:50.030 --> 01:07:54.580
I don't know, but I think
it's really up to all of you,

01:07:54.580 --> 01:07:58.480
all of you, wherever you
happen to be in the world,

01:07:58.480 --> 01:08:01.120
to invent the kinds
of organizations that

01:08:01.120 --> 01:08:05.080
work effectively for you in
the kind of work settings

01:08:05.080 --> 01:08:07.090
that you find yourself today.

01:08:07.090 --> 01:08:10.630
And out of that will come some
models that will grow, perhaps

01:08:10.630 --> 01:08:13.570
over time, and have an effect.

01:08:13.570 --> 01:08:18.130
Well, we didn't just talk
about what others need to do.

01:08:18.130 --> 01:08:21.520
We spent a good deal of time
talking about what individuals

01:08:21.520 --> 01:08:22.359
need to do.

01:08:22.359 --> 01:08:26.330
And we emphasize, obviously,
education as a cornerstone,

01:08:26.330 --> 01:08:28.390
as a necessary
condition, but we also

01:08:28.390 --> 01:08:30.520
emphasize the need
to be proactive

01:08:30.520 --> 01:08:34.420
and engage in a career
planning exercise.

01:08:34.420 --> 01:08:36.760
And so one of the
assignments was

01:08:36.760 --> 01:08:41.529
to fill out the
online questionnaire

01:08:41.529 --> 01:08:43.210
provided by the
Department of Labor

01:08:43.210 --> 01:08:48.399
and it's vocational and
career planning tool, which

01:08:48.399 --> 01:08:49.660
is just a standard one.

01:08:49.660 --> 01:08:51.160
It's not any better,
I don't think,

01:08:51.160 --> 01:08:53.590
or any worse than what
you find elsewhere.

01:08:53.590 --> 01:08:55.693
The advantage is
it's free, and that's

01:08:55.693 --> 01:08:57.609
why we used it, because
we didn't want to have

01:08:57.609 --> 01:08:59.399
to have people pay for it.

01:08:59.399 --> 01:09:02.100
But it was the starting point.

01:09:02.100 --> 01:09:03.779
And out of that
completing that, it

01:09:03.779 --> 01:09:07.080
provides information on
what one's aptitudes are,

01:09:07.080 --> 01:09:10.890
what they might be good at,
what jobs and occupations match

01:09:10.890 --> 01:09:13.830
those aptitudes very well,
what levels of education

01:09:13.830 --> 01:09:16.200
are needed to get
to different levels

01:09:16.200 --> 01:09:20.790
of the occupational structure
in that particular area,

01:09:20.790 --> 01:09:24.240
and that provides an
opportunity to say

01:09:24.240 --> 01:09:27.720
I can now make a roadmap for
how to go from where I am

01:09:27.720 --> 01:09:30.750
to realizing what I want to do.

01:09:30.750 --> 01:09:33.420
But we also asked people
to go out and talk

01:09:33.420 --> 01:09:37.620
to people in those occupations
to get a firsthand sense of it.

01:09:37.620 --> 01:09:41.760
So that they have a more
personalized view of what is it

01:09:41.760 --> 01:09:44.460
that this job is
really all about.

01:09:44.460 --> 01:09:47.430
And I think when I read
the responses, that's

01:09:47.430 --> 01:09:50.340
where the learning really
started to take place.

01:09:50.340 --> 01:09:53.550
And so the ability to go
out and engage with people

01:09:53.550 --> 01:09:55.680
and really learn from
their experiences

01:09:55.680 --> 01:09:59.760
is so critical to making
these career planning

01:09:59.760 --> 01:10:02.010
guides come to life.

01:10:02.010 --> 01:10:06.120
And look at the interesting mix
of jobs and occupations here.

01:10:06.120 --> 01:10:08.130
I got a kick out of--
this is only a sample.

01:10:08.130 --> 01:10:12.300
I just took some of the kind
of more interesting ones.

01:10:12.300 --> 01:10:15.060
I guess they're all interesting,
but we have everything

01:10:15.060 --> 01:10:18.480
from engineers and HR managers
and labor leaders and artists

01:10:18.480 --> 01:10:19.830
and futurist.

01:10:19.830 --> 01:10:24.220
Someone's going to-- is very
interested in being a futurist.

01:10:24.220 --> 01:10:25.690
Holacracy consultant.

01:10:25.690 --> 01:10:28.710
Anyone know what
whole holacracy is?

01:10:28.710 --> 01:10:30.840
Probably not.

01:10:30.840 --> 01:10:35.910
Well, holacracy is basically
organizational consultant

01:10:35.910 --> 01:10:39.180
who works to share
power and authority

01:10:39.180 --> 01:10:41.670
throughout the
organization, and to try

01:10:41.670 --> 01:10:44.790
to reduce or even completely
get rid of hierarchy.

01:10:44.790 --> 01:10:47.250
It's very controversial.

01:10:47.250 --> 01:10:50.100
It has some very
strong advocates

01:10:50.100 --> 01:10:51.990
and it has some
very strong critics,

01:10:51.990 --> 01:10:54.317
but here's someone who
is really committed to it

01:10:54.317 --> 01:10:56.650
and is going to go out and
wants to make a career of it,

01:10:56.650 --> 01:10:59.910
and I applaud that energy.

01:10:59.910 --> 01:11:01.140
A sports agent.

01:11:01.140 --> 01:11:02.640
Psychometrician.

01:11:02.640 --> 01:11:05.520
Technical writers,
artists, graphic artists.

01:11:05.520 --> 01:11:07.560
So these are jobs--

01:11:07.560 --> 01:11:09.450
these are all jobs
that people will

01:11:09.450 --> 01:11:12.360
feel that they will find
what they really want to do.

01:11:12.360 --> 01:11:14.070
And I want you to
keep these in mind

01:11:14.070 --> 01:11:16.380
when we think about
in two slides down

01:11:16.380 --> 01:11:19.560
the road here, about
the role of technology.

01:11:19.560 --> 01:11:22.620
Because one of the big
worries in this course that

01:11:22.620 --> 01:11:24.780
was voiced by so many
people, is what's

01:11:24.780 --> 01:11:27.900
going to happen to our jobs
as technology comes along.

01:11:27.900 --> 01:11:29.580
So I want to come
to that in a moment.

01:11:29.580 --> 01:11:31.260
But look at, these
are jobs that are not

01:11:31.260 --> 01:11:33.420
going to necessarily
go away and not

01:11:33.420 --> 01:11:36.720
going to be taken over by robots
or artificial intelligence

01:11:36.720 --> 01:11:38.110
in the near future.

01:11:38.110 --> 01:11:40.620
They will be influenced
by them, for sure,

01:11:40.620 --> 01:11:42.850
but we'll come to
that in a moment.

01:11:42.850 --> 01:11:46.830
What are some of the themes
that came up in the career

01:11:46.830 --> 01:11:48.810
development planning
process, this

01:11:48.810 --> 01:11:52.290
is just a sampling from both
this year and last year.

01:11:52.290 --> 01:11:56.040
The themes were almost
identical across the two years.

01:11:56.040 --> 01:11:58.800
Very strong emphasis on
getting the credentials,

01:11:58.800 --> 01:12:02.220
getting some stamp of approval
that I've got the skills,

01:12:02.220 --> 01:12:05.400
that my customers can
trust me to come in and do

01:12:05.400 --> 01:12:09.690
that work in someone's house,
or in community, or in taking

01:12:09.690 --> 01:12:11.850
care of people in my family.

01:12:11.850 --> 01:12:14.534
And so that's a
growing recognition

01:12:14.534 --> 01:12:15.450
that that's important.

01:12:15.450 --> 01:12:18.390
The importance on having
networks, and building

01:12:18.390 --> 01:12:21.240
these networks so that they know
where the good opportunities

01:12:21.240 --> 01:12:22.950
are and have access to them.

01:12:22.950 --> 01:12:25.260
Emphasis on lifelong
learning and emphasis

01:12:25.260 --> 01:12:29.070
on courses like this, that we
can use this online technology

01:12:29.070 --> 01:12:32.030
perhaps to augment
the basic education

01:12:32.030 --> 01:12:35.310
over the course of time to
support the lifelong learning

01:12:35.310 --> 01:12:36.240
process.

01:12:36.240 --> 01:12:40.320
And then recognition that people
will have to keep their skills

01:12:40.320 --> 01:12:43.530
current, because they will be
changing careers and moving

01:12:43.530 --> 01:12:47.160
across occupations
most likely over time.

01:12:47.160 --> 01:12:48.870
And then finally,
this really important

01:12:48.870 --> 01:12:52.890
point that sometimes the
career planning process doesn't

01:12:52.890 --> 01:12:55.080
pay enough attention
to, that we don't make

01:12:55.080 --> 01:12:57.360
these decisions in isolation.

01:12:57.360 --> 01:13:01.440
We live in a community, we live
in a family, we have partners,

01:13:01.440 --> 01:13:04.350
we have children,
and many of us have

01:13:04.350 --> 01:13:06.810
children or other
relatives who depend on us.

01:13:06.810 --> 01:13:10.200
Sometimes elderly parents
who need to be cared for.

01:13:10.200 --> 01:13:12.630
And so as we make
these plans, one

01:13:12.630 --> 01:13:15.580
of the requests in
the planning exercise

01:13:15.580 --> 01:13:17.130
was don't just tell
us what you want

01:13:17.130 --> 01:13:20.070
to do, but make sure
that you tell us

01:13:20.070 --> 01:13:24.750
how it will affect everyone
else in your immediate family

01:13:24.750 --> 01:13:26.370
or social setting.

01:13:26.370 --> 01:13:29.520
And so that's an important
part of this career planning.

01:13:29.520 --> 01:13:30.750
I think we can do this.

01:13:30.750 --> 01:13:33.930
I don't believe that we
should overdo career planning.

01:13:33.930 --> 01:13:36.060
We can't predict the
future completely,

01:13:36.060 --> 01:13:38.250
and we shouldn't be so
determined that there's

01:13:38.250 --> 01:13:41.070
only one course for the future.

01:13:41.070 --> 01:13:44.550
But we should plan to be
ready to take advantage

01:13:44.550 --> 01:13:46.500
of opportunities
when they come along,

01:13:46.500 --> 01:13:49.110
and know which directions
we want to go in and not

01:13:49.110 --> 01:13:54.180
be afraid to take those
steps when an opportunity is

01:13:54.180 --> 01:13:55.350
open to us.

01:13:55.350 --> 01:13:58.590
So the career planning and
the personal development plan

01:13:58.590 --> 01:14:02.460
process in this course was
a vital part of what we did.

01:14:02.460 --> 01:14:04.830
But then we come
to this question,

01:14:04.830 --> 01:14:07.210
and this is a great frame.

01:14:07.210 --> 01:14:09.360
I wish I could take time
take credit for this,

01:14:09.360 --> 01:14:11.340
will technology eat our jobs?

01:14:11.340 --> 01:14:14.010
But I didn't invent that term.

01:14:14.010 --> 01:14:18.840
I did a little bit
of a Facebook chat

01:14:18.840 --> 01:14:23.520
with a very talented
leader from Sama group.

01:14:23.520 --> 01:14:27.030
Her name is Leila Janah,
and she runs an organization

01:14:27.030 --> 01:14:30.000
that really works
with low income people

01:14:30.000 --> 01:14:33.840
all over the globe to try to
help them to use technology

01:14:33.840 --> 01:14:37.230
to improve their livelihood,
and to gain access

01:14:37.230 --> 01:14:38.670
to better opportunities.

01:14:38.670 --> 01:14:43.350
And so she raised the question,
and we had this discussion,

01:14:43.350 --> 01:14:45.990
will technology eat our jobs.

01:14:45.990 --> 01:14:48.390
We took a pretty strong
position in this.

01:14:48.390 --> 01:14:49.950
And here we are at
MIT, and we have

01:14:49.950 --> 01:14:52.890
some of the people who are
known for being some of the more

01:14:52.890 --> 01:14:55.320
pessimistic, and we have
some people who are known

01:14:55.320 --> 01:14:56.620
for being more optimistic.

01:14:56.620 --> 01:14:57.780
We've got 'em all.

01:14:57.780 --> 01:14:59.780
At MIT, I always
say, that if you--

01:14:59.780 --> 01:15:03.150
we have 1,000 faculty members
and on any given issue,

01:15:03.150 --> 01:15:05.130
those 1,000 faculty
members will have

01:15:05.130 --> 01:15:08.150
at least 3,000 points of view.

01:15:08.150 --> 01:15:12.390
And on this, I think, we can
see people all over the place,

01:15:12.390 --> 01:15:14.280
because we don't really know.

01:15:14.280 --> 01:15:17.670
The serious answer is
we don't know how rapid

01:15:17.670 --> 01:15:21.660
or how broad scale artificial
intelligence, machine learning,

01:15:21.660 --> 01:15:24.270
and all of these other things
are going to take over jobs.

01:15:24.270 --> 01:15:27.830
But we know that if we don't do
anything, if we let it happen,

01:15:27.830 --> 01:15:31.040
then we're at the risk
of the worst scenario.

01:15:31.040 --> 01:15:35.560
But if we use technology
to augment work,

01:15:35.560 --> 01:15:39.250
to augment and strengthen
the role of human judgment,

01:15:39.250 --> 01:15:42.430
then we might be able to
have the best of both worlds.

01:15:42.430 --> 01:15:47.980
And that's what even the IBM
Watson creators emphasized here

01:15:47.980 --> 01:15:52.330
at MIT in a technology day
a couple of months ago.

01:15:52.330 --> 01:15:54.730
And so we can do this.

01:15:54.730 --> 01:15:56.290
We will have displacement.

01:15:56.290 --> 01:15:59.200
There's no question that jobs
are going to be displaced.

01:15:59.200 --> 01:16:02.980
The question is are we going
to be ahead of the curve

01:16:02.980 --> 01:16:05.710
and really work to make
sure that we take care

01:16:05.710 --> 01:16:07.540
of those people
who are displaced,

01:16:07.540 --> 01:16:10.170
provide them opportunities
to move to where the job--

01:16:10.170 --> 01:16:12.220
the good jobs are,
make sure that they've

01:16:12.220 --> 01:16:14.710
got the skills built up
over time so that they

01:16:14.710 --> 01:16:18.350
can make those changes, and
then get on with this process.

01:16:18.350 --> 01:16:20.315
So I think we can use it.

01:16:20.315 --> 01:16:22.690
I think we're going to see
more of these workers centered

01:16:22.690 --> 01:16:25.540
apps that help us
adapt to technology.

01:16:25.540 --> 01:16:27.550
I used the example,
we had an interview

01:16:27.550 --> 01:16:29.710
with Sherpa Share,
the founders that

01:16:29.710 --> 01:16:32.320
use the Uber technology
to share information

01:16:32.320 --> 01:16:35.170
with the drivers on what
their real earnings are,

01:16:35.170 --> 01:16:38.860
and now we're seeing drivers use
that app in new creative ways,

01:16:38.860 --> 01:16:41.920
and other competing
apps are also out there,

01:16:41.920 --> 01:16:45.830
even since we did that interview
a couple of months ago.

01:16:45.830 --> 01:16:49.210
So I'm excited about the use
of technology to improve work,

01:16:49.210 --> 01:16:50.470
but we've got to harness it.

01:16:50.470 --> 01:16:53.380
We've got to be proactive if
we're going to be successful.

01:16:53.380 --> 01:16:55.930
And what about entrepreneurship?

01:16:55.930 --> 01:16:58.660
And again, there's a lot of
hyperbolic entrepreneurship.

01:16:58.660 --> 01:17:01.660
That all new jobs are
created by startups.

01:17:01.660 --> 01:17:05.020
Well, that's not quite true,
but a large number of new jobs

01:17:05.020 --> 01:17:06.740
are created by startups.

01:17:06.740 --> 01:17:09.880
So the importance of
startups, the importance

01:17:09.880 --> 01:17:13.630
of entrepreneurship,
is beyond question.

01:17:13.630 --> 01:17:15.310
We've got to make
sure that we have

01:17:15.310 --> 01:17:17.950
a healthy growth
of new enterprises,

01:17:17.950 --> 01:17:20.680
but we've got to do this
in a more inclusive way.

01:17:20.680 --> 01:17:23.050
We've had terrible
scandals, and again, I'm

01:17:23.050 --> 01:17:27.730
glad it's all over the news
these days, about how male

01:17:27.730 --> 01:17:30.850
dominated Silicon Valley
is with its startups,

01:17:30.850 --> 01:17:34.750
and how difficult it is
for women to move to higher

01:17:34.750 --> 01:17:39.790
levels of leadership in
that part of our growing

01:17:39.790 --> 01:17:41.440
sector of the economy.

01:17:41.440 --> 01:17:44.170
And how difficult it is
for women to get money

01:17:44.170 --> 01:17:45.730
from venture capitalists.

01:17:45.730 --> 01:17:48.430
Well, we've got to change that
and build a more inclusive

01:17:48.430 --> 01:17:50.850
capitalism if we are
going to be successful,

01:17:50.850 --> 01:17:52.890
and in fact we know some things.

01:17:52.890 --> 01:17:54.730
And so that's where
the Hitachi foundation

01:17:54.730 --> 01:17:58.390
has been so successful,
in building a program

01:17:58.390 --> 01:18:02.110
to help young entrepreneurs
to find those investors,

01:18:02.110 --> 01:18:05.530
to pick those investors, as Greg
said earlier in this session

01:18:05.530 --> 01:18:08.560
this afternoon, to make sure
that they pick investors that

01:18:08.560 --> 01:18:12.220
are supportive of
growth opportunities.

01:18:12.220 --> 01:18:13.870
We didn't use this
little example,

01:18:13.870 --> 01:18:17.650
but I like it, because maybe
I like the name, called Beepi.

01:18:17.650 --> 01:18:23.800
But Beepi is an online
used car business.

01:18:23.800 --> 01:18:25.460
Started in San
Francisco, spreading

01:18:25.460 --> 01:18:27.370
to other parts of the country.

01:18:27.370 --> 01:18:30.730
We used it in our on
campus course as a case,

01:18:30.730 --> 01:18:33.340
and so our students in the
room here are familiar with it.

01:18:33.340 --> 01:18:36.700
But basically Beepi faced
this question, who would you

01:18:36.700 --> 01:18:38.620
buy a used car from?

01:18:38.620 --> 01:18:41.080
Do you want to buy it from
someone who is a full time

01:18:41.080 --> 01:18:45.640
employee, who was signing
off and certifying

01:18:45.640 --> 01:18:47.530
that this car has
been inspected,

01:18:47.530 --> 01:18:51.670
this car has been
repaired, this car is safe,

01:18:51.670 --> 01:18:54.539
and this car is worth the
price that is being asked,

01:18:54.539 --> 01:18:56.080
or do you want to
buy it from someone

01:18:56.080 --> 01:18:58.960
who doesn't have that same kind
of commitment, is just hired

01:18:58.960 --> 01:19:01.600
as a contractor to go
through the motions to do it?

01:19:01.600 --> 01:19:04.990
And Beepi faced investors
with debates about that,

01:19:04.990 --> 01:19:09.070
and they went in the direction
of hiring and staying

01:19:09.070 --> 01:19:11.260
with a business
strategy that says

01:19:11.260 --> 01:19:14.950
we think trust is so important,
and quality is so important,

01:19:14.950 --> 01:19:17.110
that we're going to
keep the full time jobs

01:19:17.110 --> 01:19:19.510
with decent wages and benefits.

01:19:19.510 --> 01:19:23.800
Now that's a choice that
young firms also can make,

01:19:23.800 --> 01:19:27.220
but I am under no
illusion of the pressures

01:19:27.220 --> 01:19:29.770
that startups face
to conserve costs,

01:19:29.770 --> 01:19:31.390
because they don't
have much money,

01:19:31.390 --> 01:19:33.200
and they don't have
a lot of resources.

01:19:33.200 --> 01:19:36.124
So it's very difficult. But
if we don't imprint good jobs

01:19:36.124 --> 01:19:37.540
right at the
beginning, it's going

01:19:37.540 --> 01:19:41.210
to be very hard to bring
them in a little bit later.

01:19:41.210 --> 01:19:45.970
So making sure that we
worry about inclusive

01:19:45.970 --> 01:19:49.360
entrepreneurship and
inclusive capitalism

01:19:49.360 --> 01:19:52.886
right from the beginning is
very important. [? Astrid? ?]

01:19:52.886 --> 01:19:54.629
AUDIENCE: I was
just thinking, you

01:19:54.629 --> 01:19:56.870
talk about the US
and the unions,

01:19:56.870 --> 01:19:58.862
where [INAUDIBLE]
declined made the most.

01:19:58.862 --> 01:20:02.348
One place where I feel
that the US can help us

01:20:02.348 --> 01:20:06.235
in other parts of the
world is about taking risk.

01:20:06.235 --> 01:20:10.357
Because here, if you're an
entrepreneur, you go for it

01:20:10.357 --> 01:20:12.540
but you fail, maybe
because the technology

01:20:12.540 --> 01:20:15.450
wasn't such a good
idea as you hoped for,

01:20:15.450 --> 01:20:19.740
you have a legal system,
an environmental--

01:20:19.740 --> 01:20:23.430
and like social ecosystem, but
that you go from [INAUDIBLE].

01:20:23.430 --> 01:20:25.828
I think in lots of other
places in the world,

01:20:25.828 --> 01:20:28.612
you've got two red lines
on you, and you're a loser.

01:20:28.612 --> 01:20:30.556
And the funny part is
you are hidden away,

01:20:30.556 --> 01:20:31.850
because you're a loser.

01:20:31.850 --> 01:20:35.769
So think there, there is a
lot to gain with technology,

01:20:35.769 --> 01:20:37.310
but also [INAUDIBLE]
here in America,

01:20:37.310 --> 01:20:39.710
that you can help us in
the rest of the world

01:20:39.710 --> 01:20:42.110
to be more entrepreneurial,
and to try.

01:20:42.110 --> 01:20:44.500
TOM KOCHAN: I think that's
a very important point,

01:20:44.500 --> 01:20:46.300
I'm glad you made it.

01:20:46.300 --> 01:20:49.110
In the online course,
there's also an essay

01:20:49.110 --> 01:20:52.410
from one of our Sloan graduates
from a number of years ago,

01:20:52.410 --> 01:20:54.660
John Jacques Degroof,
who's written

01:20:54.660 --> 01:20:59.010
about European entrepreneurship,
and he works on this in Europe.

01:20:59.010 --> 01:21:00.780
And he's lamenting
the fact that Europe

01:21:00.780 --> 01:21:04.740
is so slow to have that kind
of infrastructure, risk taking,

01:21:04.740 --> 01:21:07.230
and support for
entrepreneurs, and says we've

01:21:07.230 --> 01:21:08.430
got to really change that.

01:21:08.430 --> 01:21:10.860
So he's reinforcing
the important point

01:21:10.860 --> 01:21:14.730
that you made, and I think
it's worth paying attention

01:21:14.730 --> 01:21:18.700
to some of the strengths that we
have here, as we move forward.

01:21:18.700 --> 01:21:23.040
Well, you went through this
very difficult, challenging,

01:21:23.040 --> 01:21:26.430
and for many of you,
rewarding experience

01:21:26.430 --> 01:21:30.120
of saying all right, enough
of this talk about it.

01:21:30.120 --> 01:21:33.300
Enough of this reading about
it, enough of the watching

01:21:33.300 --> 01:21:34.650
boring videos.

01:21:34.650 --> 01:21:38.640
Let's try to negotiate the next
generation's social contract.

01:21:38.640 --> 01:21:41.520
And so I applaud the energy
that you put into it,

01:21:41.520 --> 01:21:45.630
those that participated, and
our colleagues here on campus

01:21:45.630 --> 01:21:47.260
who helped to facilitate it.

01:21:47.260 --> 01:21:50.220
And so I just want to share a
little bit of the settlements

01:21:50.220 --> 01:21:54.900
and what you came away
from that exercise with.

01:21:54.900 --> 01:21:57.420
It's a difficult exercise to do.

01:21:57.420 --> 01:21:59.970
It's challenging because of
the differences in time zones

01:21:59.970 --> 01:22:01.980
and so on, but I
think it's worth

01:22:01.980 --> 01:22:04.740
doing, perhaps maybe in some
modified way, some of you

01:22:04.740 --> 01:22:06.280
some good suggestions.

01:22:06.280 --> 01:22:08.580
And look, we again had a
very broad distribution.

01:22:08.580 --> 01:22:12.240
We had 44 countries
participating

01:22:12.240 --> 01:22:15.480
in this experience,
a nice broad array.

01:22:15.480 --> 01:22:17.760
And here's some
of the priorities

01:22:17.760 --> 01:22:21.000
that you chose to focus on.

01:22:21.000 --> 01:22:23.190
And there were a set
of, as you recall,

01:22:23.190 --> 01:22:26.040
workforce development,
compensation fairness,

01:22:26.040 --> 01:22:29.430
representation, organizational
performance, family

01:22:29.430 --> 01:22:34.020
and community, and basically
not one of those dominated.

01:22:34.020 --> 01:22:36.240
There was a good
distribution of priorities.

01:22:36.240 --> 01:22:39.030
Everyone recognized the
importance of all of these.

01:22:39.030 --> 01:22:42.540
There was clearly a higher
preference for workforce

01:22:42.540 --> 01:22:44.160
development, and
a little bit more

01:22:44.160 --> 01:22:47.210
for fairness and
nondiscrimination,

01:22:47.210 --> 01:22:49.560
but the varied
interests said just what

01:22:49.560 --> 01:22:51.780
you said early on in
the course about how

01:22:51.780 --> 01:22:55.530
important multiple things
are to you in the workplace.

01:22:55.530 --> 01:22:59.070
And so lifelong
learning dominated,

01:22:59.070 --> 01:23:02.280
voice and representation,
the concern for productivity

01:23:02.280 --> 01:23:06.120
and flexibility in
organizations dominated,

01:23:06.120 --> 01:23:08.447
and work and family
came through as well.

01:23:08.447 --> 01:23:09.780
And these are just some numbers.

01:23:09.780 --> 01:23:11.196
I'm not going to
go through these,

01:23:11.196 --> 01:23:14.340
they just reflect basically
what I said a minute ago,

01:23:14.340 --> 01:23:16.920
because we're running a
little bit short on time.

01:23:16.920 --> 01:23:20.310
But let's look at
what you agreed to.

01:23:20.310 --> 01:23:24.516
Well, we had about
157 agreements.

01:23:24.516 --> 01:23:26.640
Some of them were two party,
some were three party,

01:23:26.640 --> 01:23:27.990
some were four party.

01:23:27.990 --> 01:23:31.530
But across those clusters,
what you did is you

01:23:31.530 --> 01:23:34.860
embodied the knowledge
of the high performance

01:23:34.860 --> 01:23:35.790
work organizations.

01:23:35.790 --> 01:23:38.610
You said we can't just
focus on training,

01:23:38.610 --> 01:23:40.560
and many of your
agreements had training

01:23:40.560 --> 01:23:42.600
combined with performance.

01:23:42.600 --> 01:23:44.730
Training combined
with compensation.

01:23:44.730 --> 01:23:48.660
Training combined with
making sure it was inclusive.

01:23:48.660 --> 01:23:50.850
Some of the European
examples said

01:23:50.850 --> 01:23:53.460
we're even going to find ways
to bring it to the platform

01:23:53.460 --> 01:23:55.440
economy, and see if
we can't bring some

01:23:55.440 --> 01:23:59.850
of our training, experience,
and our representative models

01:23:59.850 --> 01:24:01.560
into that sphere.

01:24:01.560 --> 01:24:04.440
And so a very strong emphasis
on lifelong learning,

01:24:04.440 --> 01:24:07.530
on career planning, the
notion that people should

01:24:07.530 --> 01:24:13.320
have representation, emphasis on
partnerships, strong commitment

01:24:13.320 --> 01:24:16.110
to flexibility in
organizations, strong commitment

01:24:16.110 --> 01:24:17.490
to profit sharing.

01:24:17.490 --> 01:24:22.200
That came through in many
of these agreements as well.

01:24:22.200 --> 01:24:25.980
And so I think you found ways
to reach across interest group

01:24:25.980 --> 01:24:29.530
lines to find ways to
find common ground.

01:24:29.530 --> 01:24:32.070
Now if you can do
it in this exercise,

01:24:32.070 --> 01:24:36.510
then perhaps why can't we do
it in our broader societies?

01:24:36.510 --> 01:24:39.300
I would urge everyone
to take the same issues

01:24:39.300 --> 01:24:41.750
and move them to other settings.

01:24:41.750 --> 01:24:43.770
So where did we end up?

01:24:43.770 --> 01:24:46.050
Well the last thing
we asked is what

01:24:46.050 --> 01:24:49.410
are the messages to the
next generation leaders, HR

01:24:49.410 --> 01:24:53.220
professionals, labor educators,
and government officials?

01:24:53.220 --> 01:24:56.190
And our friends at Cornell
helped us out on the HR side.

01:24:56.190 --> 01:24:59.040
So my good friend Lee
Dyer, who led that class,

01:24:59.040 --> 01:25:02.010
and his students provided
these next three slides

01:25:02.010 --> 01:25:04.500
on what do they see,
because they are

01:25:04.500 --> 01:25:05.910
moving into this profession.

01:25:05.910 --> 01:25:10.170
So what is it that they see as
important for the HR profession

01:25:10.170 --> 01:25:11.730
to attend to?

01:25:11.730 --> 01:25:16.410
And they emphasize three themes,
globalization, technology,

01:25:16.410 --> 01:25:18.780
and demographics, and
on the basis of that

01:25:18.780 --> 01:25:22.590
came up with a set
of slides and points

01:25:22.590 --> 01:25:25.140
on what it means
for recruitment.

01:25:25.140 --> 01:25:26.910
That they have to
recognize that there

01:25:26.910 --> 01:25:30.220
has to be a good fit
between the competencies,

01:25:30.220 --> 01:25:34.390
the organization needs, and
what employees need to bring.

01:25:34.390 --> 01:25:37.450
They need to develop new
sets of technical knowledge,

01:25:37.450 --> 01:25:41.260
emphasizing the technical
and STEM skills,

01:25:41.260 --> 01:25:43.900
but also combining that
with problem solving,

01:25:43.900 --> 01:25:46.060
and being able to work
collaboratively in teams.

01:25:46.060 --> 01:25:49.180
So they embody the
integration of technology

01:25:49.180 --> 01:25:52.330
and organizational skills
and understanding the need

01:25:52.330 --> 01:25:54.790
to be responsive to
people's differences

01:25:54.790 --> 01:25:56.440
in culture and backgrounds.

01:25:56.440 --> 01:25:58.300
So I think on the
recruitment side,

01:25:58.300 --> 01:26:01.630
that's a really
powerful set of points.

01:26:01.630 --> 01:26:04.450
On the globalization side,
they saw the positives

01:26:04.450 --> 01:26:05.560
and the negatives.

01:26:05.560 --> 01:26:08.470
That yes, globalization
creates an opportunity

01:26:08.470 --> 01:26:11.170
to compete for talent
all across the world,

01:26:11.170 --> 01:26:13.870
and at the same time,
provides more diversity

01:26:13.870 --> 01:26:15.760
that we need to
manage effectively,

01:26:15.760 --> 01:26:19.235
but it also provides
some low wage havens,

01:26:19.235 --> 01:26:21.860
and that's going to put pressure
on our compensation structure.

01:26:21.860 --> 01:26:24.880
So they were quite realistic
in having to manage

01:26:24.880 --> 01:26:27.260
the tensions of globalization.

01:26:27.260 --> 01:26:30.370
And on technology,
it came back again

01:26:30.370 --> 01:26:33.610
to emphasize the complimentary
nature that technology can

01:26:33.610 --> 01:26:36.000
play, if they are proactive.

01:26:36.000 --> 01:26:38.530
And if there's one message
to the HR community, in fact,

01:26:38.530 --> 01:26:42.280
I delivered it this morning
to a group of HR professionals

01:26:42.280 --> 01:26:44.530
in talking about
these issues, is

01:26:44.530 --> 01:26:47.600
that they have to get out
in front of technology.

01:26:47.600 --> 01:26:50.160
They have to be part of
the technology designers

01:26:50.160 --> 01:26:54.980
and enablers to make work really
complements to technology.

01:26:54.980 --> 01:26:57.160
And I think that's an
opportunity for the HR

01:26:57.160 --> 01:26:58.060
profession.

01:26:58.060 --> 01:27:01.060
And then they commented
as well on demographics,

01:27:01.060 --> 01:27:02.770
along the lines that
we've talked about

01:27:02.770 --> 01:27:06.280
for mentoring the next
generation workforce and so on.

01:27:06.280 --> 01:27:09.970
So thank you, to our colleagues
at Cornell for those inputs.

01:27:09.970 --> 01:27:13.720
But you also raised in your
own conversations issues

01:27:13.720 --> 01:27:16.360
around implications
for worker advocates,

01:27:16.360 --> 01:27:19.510
for needing to listen
to the workforce,

01:27:19.510 --> 01:27:22.600
to learn from the workforce,
to build the new organizations,

01:27:22.600 --> 01:27:26.050
not to be just captivated by
the way in which we did things

01:27:26.050 --> 01:27:26.950
in the past.

01:27:26.950 --> 01:27:28.840
To build on the
strengths of the past,

01:27:28.840 --> 01:27:31.570
but to look to the
future, and particularly

01:27:31.570 --> 01:27:34.330
to use information
technologies as building

01:27:34.330 --> 01:27:36.100
new sources of power.

01:27:36.100 --> 01:27:38.410
And for those of us in
the education community,

01:27:38.410 --> 01:27:41.110
emphasizing we've got to
be more creative in using

01:27:41.110 --> 01:27:46.450
all this technology, online
learning, and other mechanisms

01:27:46.450 --> 01:27:49.990
to provide good guidance for
the next generation workforce,

01:27:49.990 --> 01:27:52.480
and to provide
opportunities for continuing

01:27:52.480 --> 01:27:54.280
to learn as we go along.

01:27:54.280 --> 01:27:57.520
And then the toughest
nut, obviously,

01:27:57.520 --> 01:28:00.880
is breaking the gridlock that
we find in the United States

01:28:00.880 --> 01:28:04.030
and in some other countries
over national politics.

01:28:04.030 --> 01:28:06.610
And here we emphasize
right from the beginning

01:28:06.610 --> 01:28:10.450
that the lessons always come
from the local level first.

01:28:10.450 --> 01:28:12.610
And so if we can build
on the innovations that

01:28:12.610 --> 01:28:15.910
are happening that we've talked
about throughout this course

01:28:15.910 --> 01:28:18.010
at the local level,
then maybe someday

01:28:18.010 --> 01:28:22.780
soon our national leaders will
wake up and say maybe it's time

01:28:22.780 --> 01:28:25.630
for us to start
working together.

01:28:25.630 --> 01:28:28.810
So our bottom line message to
the next generation workforce,

01:28:28.810 --> 01:28:30.667
to all of us, and
to all of you, I

01:28:30.667 --> 01:28:32.500
guess I'm not the next
generation workforce,

01:28:32.500 --> 01:28:36.190
but you are the next generation
workforce, is education.

01:28:36.190 --> 01:28:40.870
Preschool, formal schooling,
and lifelong learning.

01:28:40.870 --> 01:28:43.480
Education throughout
one's life, making

01:28:43.480 --> 01:28:45.790
sure you explore,
but don't become

01:28:45.790 --> 01:28:50.470
a victim of too tight a career
plan, but take opportunities

01:28:50.470 --> 01:28:51.850
when they are available.

01:28:51.850 --> 01:28:55.900
Keep those skills current, work
together, keep your resume up

01:28:55.900 --> 01:28:58.150
to date, and one foot in
the external labor market

01:28:58.150 --> 01:29:01.990
to use that as a source of
power, and get involved.

01:29:01.990 --> 01:29:04.990
And together, if there's
a bottom line here,

01:29:04.990 --> 01:29:07.540
we can shape the future of work.

01:29:07.540 --> 01:29:09.790
So where are we going?

01:29:09.790 --> 01:29:12.430
Once again, we emphasize
the high road importance,

01:29:12.430 --> 01:29:16.270
rebuild bargaining power, get
the parties working together,

01:29:16.270 --> 01:29:18.460
and then let me give
you the real bottom line

01:29:18.460 --> 01:29:21.730
from two students from
our discussion board.

01:29:21.730 --> 01:29:24.809
And I'll just read these
and end on this note.

01:29:24.809 --> 01:29:26.350
And one said, "Taking
this course has

01:29:26.350 --> 01:29:28.630
given me hope that the
future of work and the path I

01:29:28.630 --> 01:29:30.610
wish to take after college.

01:29:30.610 --> 01:29:33.130
The future of work
depends on the mindset

01:29:33.130 --> 01:29:34.510
of individual workers."

01:29:34.510 --> 01:29:35.920
Of all of you.

01:29:35.920 --> 01:29:38.860
"If the workers are hardworking
and have confidence,

01:29:38.860 --> 01:29:41.360
the future of work will
toil in their favor."

01:29:41.360 --> 01:29:43.540
I think that's a
beautiful phrase

01:29:43.540 --> 01:29:46.600
and I appreciate the
author's offering it.

01:29:46.600 --> 01:29:50.440
And then one that
came just today.

01:29:50.440 --> 01:29:54.040
"I came away feeling a personal
'call to action' to help shape

01:29:54.040 --> 01:29:55.620
the Future of Work myself--

01:29:55.620 --> 01:29:58.790
that indeed, the Future
of Work is up to us.

01:29:58.790 --> 01:30:00.940
We have do-- we have--

01:30:00.940 --> 01:30:03.460
we do have the power to
shape the Future of Work

01:30:03.460 --> 01:30:06.560
by bringing together
all the stakeholders."

01:30:06.560 --> 01:30:09.220
These are the bottom line
messages of this course.

01:30:09.220 --> 01:30:12.040
This is what we all put
all this energy, all of you

01:30:12.040 --> 01:30:15.130
put all the energy you put into
it, and the online version,

01:30:15.130 --> 01:30:17.840
and our friends here on campus.

01:30:17.840 --> 01:30:21.520
And I think together we can
shape the future of work,

01:30:21.520 --> 01:30:24.290
so we just need to move forward.

01:30:24.290 --> 01:30:29.270
We will put all of this material
online, it will stay online.

01:30:29.270 --> 01:30:33.470
And you'll be encouraged to
come back and use the material,

01:30:33.470 --> 01:30:36.510
maybe use it in teaching
others in the future.

01:30:36.510 --> 01:30:40.490
So it'll stay on the platform
for anyone who wants to use it,

01:30:40.490 --> 01:30:44.510
or anyone who wants to join
and use it in the future.

01:30:44.510 --> 01:30:47.720
We think that
together, if we use

01:30:47.720 --> 01:30:53.360
what we know about how work has
been structured in the past,

01:30:53.360 --> 01:30:58.040
on what worked in the past,
what stopped working in more

01:30:58.040 --> 01:31:01.610
recent years, why
the world of work

01:31:01.610 --> 01:31:04.550
has to change to keep up
with changes in technology

01:31:04.550 --> 01:31:07.700
and keep up with the people
who are doing the work,

01:31:07.700 --> 01:31:08.750
we can make a difference.

01:31:08.750 --> 01:31:14.600
So I want to thank you all
for the many hours of effort

01:31:14.600 --> 01:31:16.160
that you put into this course.

01:31:16.160 --> 01:31:19.580
I want to thank you for taking
an interest in improving

01:31:19.580 --> 01:31:22.540
the future of work, and I
hope that together we'll

01:31:22.540 --> 01:31:24.150
all make a difference.

01:31:24.150 --> 01:31:25.070
Thank you very much.

01:31:25.070 --> 01:31:27.220
AUDIENCE: [APPLAUSE]