For those of us heading back to work Tuesday, you might take note of the 10 million unemployed Americans who wish they could join you. We all want a good job. But what defines "good"? Could it be that morale matters more than money? Martha Teichner reports our "Sunday Morning" Cover Story:
You may not have ever seen anything quite like it: workers protesting because their boss was fired.
In June, the board of directors of Market Basket, a 71-store supermarket chain in New England, dismissed company president Arthur T. Demoulas. The board was controlled by Arthur T.'s cousin, Arthur S. Demoulas, who wanted more of the profits to go to shareholders, less to employees.
In what amounted to an epic family feud, Market Basket stores hemorrhaged money -- an estimated $1 million a day -- thanks to a customer boycott in sympathy with the employee walkout.
"No other walkout, 20,000 people walk out for one man," said one employee, "but we did."
The employee revolt at Market Basket raises a question, especially over this Labor Day weekend: Is there a connection between workers feeling well-treated by their employers, and the bottom line?
There's lots of evidence the answer is yes.
Here's just one example, tracked for 15 years: Stock in Fortune magazine's "100 Best Companies to Work For" way outperformed both the S&P 500 and the Russell 3000 indices
- 100 Best Companies to Work For, 2014 (fortune.com)
Teichner asked, "What did you discern as the common denominators in what would make a great workplace?"
"It's actually the relationship of trust," said Levering. "They create a certain kind of culture. What we usually hear them talk about as either a family-like environment or a team-like environment."
At number 44, Whole Foods Market is one of only 13 companies that have made the list every year since Fortune started publishing it in 1998.
Co-founder John Mackey calls his employees team members.
"Is that psychological mumbo-jumbo, or does it really mean something to say 'team member'?" asked Teichner.