How we can actually pay people enough -- with Paypal CEO Dan Schulman | TED Business

TED Talks Daily

TED

Creativity, Ted Podcast, Ted Talks Daily, Business, Design, Inspiration, Society & Culture, Science, Technology, Education, Tech Demo, Ted Talks, Ted, Entertainment, Tedtalks

4.1 • 11.9K Ratings

🗓️ 30 December 2020

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Capitalism urgently needs an upgrade, says PayPal CEO Dan Schulman, and it starts with paying people enough to actually invest in their futures. He explains the epiphany that led PayPal to create a whole new metric for adequate pay, Net Disposable Income, and why investing in employees' financial health is just good business. After the talk, host Modupe Akinola makes the case for going one step further and considering how fair pay might actually mean something pretty different for every employee. (This is an episode of TED Business. Find it wherever you listen to podcasts.)

Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0	Hi, everyone, something a little different today, a talk from our new podcast, Ted Business. Enjoy.
0:13.0	$16 per hour. This amount is above the national minimum wage, and it may seem like enough for entry-level employees. But based on their
0:22.7	circumstances, it may be far from enough. What if a person's a single parent? What if they send
0:28.9	money every month to a relative in need? What if they're still struggling to pay a $50,000 medical
0:35.3	bill from an accident a few years ago. Even if you look at the average
0:39.8	hourly market rate across the U.S., $30 per hour may not be enough to keep people from living
0:46.8	on the financial brink. When you look beyond averages and market rates and try to see people's real
0:53.7	lives, you may encounter a
0:55.5	startling truth that even profitable companies that think they're paying their employees fairly
1:02.0	may have employees who are barely getting by. So what can you do about that?
1:12.1	Welcome to the TED Business Podcast.
1:14.7	I'm your host, Medupa Akinola, Associate Professor of Management at Columbia Business School
1:19.7	and Director of the Burnstein Center for Leadership and Ethics.
1:23.9	Today, Dan Shulman offers insight into a new metric that PayPal invented, net disposable income,
1:31.6	that can help organizations determine if they're paying their employees enough.
1:36.7	Dan Shulman is the president and CEO of PayPal and chairman of the board of Symantec.
1:41.3	He served in division president and CEO roles at American Express, Sprint, and Virgin Mobile.
1:47.4	His leadership has been critical in helping companies meet the 21st century demand of contact-free payments.
1:54.9	You'll hear him not in a traditional TED talk, but in conversation with TED Business Curator Corey Hageem on the TED
2:03.0	interview podcast. And he'll explain the process he used at PayPal to understand the true
2:09.2	financial health of employees. Then after the interview, I'll be back to suggest how we can
2:14.9	take that quest for understanding a step further. Dan will also tell you the
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from TED, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of TED and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.