In this episode, host James Mackey and his guests dive into the complex issue of the ongoing writer's strike, examining its causes, implications, and potential outcomes. The conversation begins with an overview of the writer's strike and the main concerns driving it, including the impact of inflation and the decline in residuals from streaming platforms.
The conversation touches upon the billions of dollars lost in the economy due to halted productions, impacting writers and various production teams. The parallel between the writer's strike and American Airlines employees' recent approval of a strike is also examined, highlighting the correlation between high-inflation environments and worker strikes.
They also discuss the controversy created around Andi Owen, CEO of MillerKnoll as she faced backlash for denying bonuses to her team while she received a bonus between 1-5 million dollars.
They explore the challenging decisions businesses face when it comes to pricing strategies in a recession market. From mass layoffs to pay cuts, they discuss the delicate balance between prioritizing employee satisfaction and ensuring organizational sustainability.
They delve into the dilemma between maintaining profitable customers or offering lower prices to sustain the budget. The conversation delves into various perspectives, including the importance of maintaining product value and providing exceptional outcomes for clients, that preserve both financial stability and customer satisfaction while considering long-term growth and the overall health of the organization.
Guest Panel: Andreea Florescu, Bridget Tesler, Julia Arpag
0:59 Writers’ strike and how this strike will impact the economy
5:54 The correlation between high inflation and strikes
11:29 American Airlines strike
12:17 Andi Owen, CEO of MillerKnoll faces backlash for denying bonuses to her team
21:50 The importance of alignment and compensation in the workplace
29:41 Why companies have had to go through mass layoffs
32:53 How to invest in employee satisfaction in leaner times
35:49 Pay cuts vs layoffs. Are layoffs a better option than reducing pay?
43:13 How do you make a decision when you have several unfavorable options
53:18 How do you balance the need for profitability with the need to retain staff
59:34 What are some of the metrics of success that companies need to consider
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