Abstract
Many service companies believe that there is a trade-off between investing in employees and offering the lowest prices. They offer few benefits, no career paths, and, hence, are considered as bad jobs. Conventional wisdom holds that bad jobs are the unavoidable price of low-cost service. However, this research emphasizes that investing in people and processes actually can boost customer experience and decrease costs. The good jobs strategy is a model for investing and empowering front-line employees in service industries and revamping operations to support those employees. The good jobs strategy is an approach to improving productivity and customer satisfaction in service industries. This research works in this direction and develops various frameworks for smooth deployment of the good jobs strategy. The research also formulates financial measurement and evaluation models for calculating benefits of the good jobs strategy and provides diverse illustrations of its successful deployment.
Highlights
There has been a lot of discussion over the last few years about the growth of the services sector - in terms of nations’ GDP and people’s occupations - compared to the manufacturing sector, which had dominated the business scenario earlier
The major objectives of this paper are firstly, to introduce concept of the Good Jobs strategy as a value creation strategy which combines the strengths of both human resource management (HRM) and operations and emphasize their complementary relationship; secondly, to demonstrate how Good Jobs strategy meets the challenges of employees, customers and companies in today’s fast changing and highly competitive services marketplace; and thirdly, to suggest various research frameworks for successful deployment of Good Jobs strategy by analyzing matching organizational resources in terms of people (HRM practices) and processes
With 1% improvement in sales revenue triggered by deployment of Good Jobs strategy by a retailer, new sales become $101 M
Summary
There has been a lot of discussion over the last few years about the growth of the services sector - in terms of nations’ GDP and people’s occupations - compared to the manufacturing sector, which had dominated the business scenario earlier. Service-related jobs and activities have grown to encompass a much larger share of the global economy and job market. The service sector grew significantly in the late twentieth century, to the extent that 80 percent of jobs in the USA were offered by service companies (Heineke and Davis, 2007). More than 80 percent of all jobs in the USA are in the service sector (Bureau of Labor Statistics, 2015) which is 11 percent higher than service-related employment in 1990. Significant proportions of the gross domestic product generated in emerging economies can be attributed to services (Loungani and Mishra, 2014). As of June 2020, 117.36 million people in USA (85% of all nonfarm payroll employees) worked in private service-providing industries. Among the major service-industry sectors, the biggest was trade, transportation and utilities (Bureau of Labor Statistics, 2020)
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