Reference no: EM13923207

In his recent bookThe Responsible Company,Patagonia founder and owner Yvon Chouinard argued that meaningful work depends on what one does, in terms of daily tasks, but also on the larger issues that a company stands for.1.43 Chouinard, Y., and V. Stanley.The Responsible Company: What We've Learned from Patagonia's First 40 Years.Ventura, CA: Patagonia Books, 2012.');" onmouseout="CloseReference();">43 He writes, "Regardless of our talent or education; our preference for working with words, numbers, or our hands ... we have meaningful work at Patagonia because our company does its best to be responsible to nature and people. Our daily gestures-on the one hand, mundane and often tedious-are, on the other hand, infused with the effort to give something useful and enjoyable to society without bringing undue harm to nature, the commons, or other workers. Tedium is easier to take when it has meaning." In an effort to encourage other companies to be more "responsible to nature and people," Chouinard includes a responsible company checklist in the book, and as a download on Patagonia's website (www.patagonia.com/pdf/en_US/checklist.zip). The checklist includes sections on being responsible to (a) the financial health of the company, (b) its employees, (c) its customers, (d) the local community, and (e) nature. The employee checklist is excerpted below:

Determine whether your company pays above-market, at-market, or below-market rates. Paying below market means your competitors will attract the best talent, including your own.

Calculate the multiple by which the company's highest-paid employee compares to its lowest-paid full-time worker. Set a goal over a specific period of time to narrow the gap to a specific multiple, appropriate to your industry.

Calculate your average annual attrition rate and compare with that of other employers in your business. If your number doesn't look good, figure out why. Set a benchmark for improvement.