What’s causing low satisfaction?
Sure, there are surface-level factors:
• High-pressure environments
• Tough working conditions
• Poor work-life balance
But lots of hard jobs have happy employees.
There's a bigger underlying problem...
At one point, employee turnover was seen as an advantage to Amazon.
Bezos saw his warehouse workforce as necessary - but replaceable.
He can't afford to think that way anymore.
So, how big of a problem is losing $8B/yr?
For context, Amazon’s net income:
• In 2021: $33.36B
• In 2022: -$2.72B
But there’s a conundrum bigger than money:
Amazon could RUN OUT of people to hire in its US warehouses by 2024.
Amazon is facing an $8B/year problem.
• ~75% of employees leave the company
• Only 1/3 of new hires stay for >90 days
• 100% employee turnover in warehouses (double the industry average)
But it gets even worse.
Let me explain:
@ryancohen@satyanadella@MLCSeattleOrcas Dear @satyanadella, please respond to Executive Chair of GameStop @ryancohen
Many of us ( $GME investors) are also $MSFT shareholders — and social media sentiment should mean a lot to your company. Please don't ignore.
See below for the letters sent to Forbes from myself and Dr. Shapiro (renowned economist), which I hope will serve to better inform Forbes’ and Mr. Kochkodin’s reporting going forward.
@ryancohen@elonmusk Free speech is the bedrock of democracy, the public deserves to know what really happened and who is behind the shadowbanning… Release the files @elonmusk! ✊
Consistency seems to be highly underrated. It deserves consideration as the preeminent superpower. Consistency seems to be the foundation of truly superior outcomes - moderate strengths applied consistently routinely outperforms elite strengths applied sporadically.