VIDEO: PayPal Employee and Senior VP Explain How Investments in Higher Wages And Better Benefits are Good for Workers, Customers, and Shareholders

As businesses continue to adapt in the wake of the pandemic, many are rethinking their approach to their employees. PayPal is joining the list of companies recognizing the importance of investing in their workforce. In a recent video, PayPal’s Employee and Senior VP explain how investments in higher wages and better benefits can benefit workers, customers, and shareholders.

The video highlights how higher wages lead to happier employees, which in turn leads to better customer service and satisfaction. Happy employees also tend to stay longer with the company, reducing the cost of hiring and training new employees. In addition, the video points out that offering better benefits can attract top talent and increase employee loyalty.

PayPal is not the only company rethinking their approach to their workforce in recent years. More and more companies are recognizing that investing in their employees can yield big rewards. For example, Costco pays their workers significantly higher wages than other retailers and boasts a turnover rate of only 5 percent, compared to the industry average of 50 percent.

It’s encouraging to see companies recognizing the importance of their employees and taking steps to invest in them. When companies prioritize their employees, the benefits extend far beyond the workplace. Not only does it lead to happier employees, but it can also help boost the economy by providing a living wage for workers. It’s a win-win situation that benefits everyone involved.