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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Dying for a Paycheck summary
How Modern Management Harms Employee Health and Company Performance—and What We Can Do About It
20 mins
Brief summary
"Dying for a Paycheck" by Jeffrey Pfeffer explores the detrimental impact of modern workplaces on employee physical and mental health. The book suggests solutions to create healthier work environments and improve overall well-being.
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Dying for a Paycheck
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Stressful workplaces can adversely affect our health, but it doesn’t have to be this way.
Most of us have experienced stress in the workplace. The statistics agree. In fact, studies show that workplace stress is getting increasingly worse and shows no sign of abating. The American Institute of Stress reported that a staggering 80 percent of Americans experience regular stress at work.
But if workplace stress is such a widespread phenomenon, then what are the consequences?
In short, work can be detrimental to one’s health. For example, according to Fortune magazine, Salesforce is meant to be one of the best companies to work for in the United States. But numerous anecdotal reports from employees show a different side to the company.
One unnamed employee who joined the company as a manager was soon compelled to take antidepressants to cope with the stressful work environment. Her constantly changing schedule and demanding job meant she often had to work – or travel for work – on weekends. To cope with all this, she ended up spending around $2,000 a month on therapy and a personal trainer.
But not everyone can afford such coping techniques, particularly in the fast-growing gig economy.
The gig economy is characterized by precarious short-term contracts and often low wages; some have predicted that 40 percent of the American workforce will be gig economy workers by 2020. The economic uncertainty of such work, combined with little to no paid time off, led to a review of 93 studies concluding that gig-economy work leads to decreased safety on the job, as well as a decline in workers’ overall health.
But things don’t have to be this way.
An inspiring example of companies trying to do things differently is Aetna. After CEO Mark Bertolini suffered a terrible skiing accident in 2004, he developed an interest in health. This made him rethink his company’s attitude to employee well-being.
In 2015, Aetna instituted a minimum hourly wage of $16, leading to a 33 percent pay increase for the company’s lowest earners. This, combined with improved employee health insurance and free meditation classes, led to employees reporting 28 percent less stress and 20 percent better quality of sleep.
What’s more, the company’s healthcare costs decreased, showing that caring about employees’ well-being can result in a win-win situation on both sides of the paycheck.
Sadly, companies like Aetna are few and far between. As we’ll see in the blinks that follow, workplace stress extracts an enormous toll on people worldwide.
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What is Dying for a Paycheck about?
Dying for a Paycheck (2018) reveals that 120,000 American die every year because of work-related health issues. This makes work the fifth leading cause of death in the United States – and as dangerous as second-hand smoke. But things could be different, as a number of companies have demonstrated. Backed up by hard facts and the author’s years of expertise, Dying for a Paycheck presents timely solutions for a pressing issue.
Dying for a Paycheck Review
Dying for a Paycheck (2018) sheds light on the alarming consequences of today's workplace practices and why it's crucial for everyone to read it:
- With in-depth research and statistical evidence, the book uncovers the true toll that work-related stress takes on our health and well-being.
- It offers practical solutions and strategies for individuals and organizations to create healthier work environments and improve employee satisfaction.
- Through compelling case studies and interviews, the book presents real stories that highlight the urgency to address the issues at hand, making it a captivating read.
Best quote from Dying for a Paycheck
A 2006 Chinese study estimated that up to a million people die in China every year due to overwork.
—Jeffrey Pfeffer
Who should read Dying for a Paycheck?
- CEOs and managers looking to improve employees’ health
- Employees looking to understand how work affects their well-being
- Policymakers wanting to implement positive change in American workplaces
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Dying for a Paycheck FAQs
What is the main message of Dying for a Paycheck?
The main message of Dying for a Paycheck is the harmful impact of workplace stress and how it can be mitigated.
How long does it take to read Dying for a Paycheck?
The estimated reading time for Dying for a Paycheck is several hours. However, the Blinkist summary can be read in just 15 minutes.
Is Dying for a Paycheck a good book? Is it worth reading?
Dying for a Paycheck is worth reading for its eye-opening exploration of workplace hazards. It provides insights and solutions to improve work-life balance and overall well-being.
Who is the author of Dying for a Paycheck?
Jeffrey Pfeffer is the author of Dying for a Paycheck.
What to read after Dying for a Paycheck?
If you're wondering what to read next after Dying for a Paycheck, here are some recommendations we suggest:
- Smart Leadership by Mark Miller
- Leadership BS by Jeffrey Pfeffer
- Power by Jeffrey Pfeffer
- Nobody Cares About Your Career by Erika Ayers Badan
- Leadership Is Language by David Marquet
- The Chaos Machine by Max Fisher
- The 4-Hour Workweek by Tim Ferriss
- Money by Rob Moore
- Beyond Order by Jordan B. Peterson
- How Not to Age by Michael Greger