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Top RESEARCHER: How To Cash Out of Your Small Business While Empowering Your Community
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Ellen Frank-Miller, PhD, is the Founder and CEO of WORC (Workforce & Organizational Research Center), an applied research and evaluation consultancy creating an inclusive economy for worthwhile jobs. She has spent her 30-plus year career collaborating with employers, investors, national advocates, and community-based organizations to enhance jobs and make them more accessible.
As an organizational scholar, Ellen spent 15 years in human resource consulting, creating evidence-based programs and policies. Before launching WORC, she founded and led the Workforce Financial Stability Initiative at Washington University’s Social Policy Institute.
In this episode…Decades of research have shown that higher-paying jobs and profit-sharing programs for frontline workers lead to increased engagement and retention and a healthier bottom line for organizations. Yet, many companies hesitate to implement these incentives, not recognizing their widespread value. How can frontline managers effectively communicate the advantages of these initiatives to executives while aligning them with company goals?
According to workforce researcher Ellen Frank-Miller, companies that align employee ownership programs with performance observe frontline workers taking responsibility for their contributions. These incentives encourage employees to pursue professional development opportunities and further their careers. Ellen advises frontline supervisors to communicate openly with their team and collaborate with them to solve problems. They can then convey the results to executives to foster a dialogue about profit-sharing and employee ownership plans. While implementing these incentives into larger corporations may involve legislation, smaller, locally owned businesses can integrate them into their succession plans.
Welcome back to What The Teck? as Ellen Frank-Miller, PhD, Founder and CEO of WORC (Workforce & Organizational Research Center), returns to talk with Rolando Rosas about how employee ownership programs benefit companies and workers. Ellen explains how to align employee incentives with organizational goals, her research into human capital management and value creation, and how to invest in frontline employees and give them opportunities.
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