Why it Pays to Raise Pay

Worklife with Adam Grant

TED

Management, Worklife Podcast, Worklife With Adam Grant, Work Life Balance, Ted Talks, Podcast About Work Life, Ted Adam Grant, Adam Grant Podcasts, Ted Podcasts, Adam Grant, Organizational Psychologist, Business

4.8 • 9.4K Ratings

🗓️ 11 May 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

When employees are paid more, they give more. Going above market pay might sound like a fantasy, but in a growing number of companies it’s becoming a profitable reality. Peek inside workplaces that have reinvented their pay structures to give employees their worth and more—and explore the science of how it can pay off for everyone in the long run. Note: This episode was published in May 2021, and features an employee at Gravity Payments, whose founder and longtime CEO has stepped down in light of serious allegations of sexual misconduct. The behavior reported by the New York Times is completely unacceptable and not condoned by TED or any parties that contributed to the episode. Our focus in this episode is not on Dan Price, but on what can be learned from an experiment at the company on raising pay. Find the full text transcript for this episode at go.ted.com/WLTranscript47. WorkLife is made possible with the support of LinkedIn, Logitech, Morgan Stanley, SAP, and Verizon.

Transcript

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0:00.0	Hey, it's Mel Robbins.
0:03.0	Let's cut to the chase.
0:04.0	There is a change you want to make right now
0:06.0	that you're waiting to feel motivated.
0:08.0	You don't need motivation.
0:10.0	You've got me.
0:11.0	You can change your life anytime you want.
0:13.0	And when you're ready,
0:14.0	the Mel Robbins podcast is here to help you
0:16.0	with inspiration and simple science-backed tools
0:19.0	to help you create a better life.
0:21.0	Listen to me, and you'll feel motivated all right.
0:23.0	Listen and follow the Mel Robbins podcast
0:25.0	on Apple Podcasts Spotify
0:27.0	or wherever you listen to podcasts.
0:30.0	This episode features an employee at Gravity Payments,
0:33.0	whose founder and longtime CEO has stepped down
0:35.0	in light of serious allegations of sexual misconduct.
0:38.0	The behavior reported by the New York Times
0:40.0	is completely unacceptable.
0:42.0	Our focus in this episode is not on Dan Price,
0:45.0	but on what can be learned from an experiment
	...

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