Economists from MIT, Stanford, the University of Chicago, and Mexico’s ITAM polled U.S. workers to see how the pandemic impacted American’s work from home setup, reports Nate DiCamillo for Quartz. “Overall, remote workers report that they’ve become more efficient at working from home than in office,” writes DiCamillo.
The Economist spotlights a study by MIT researchers that found that less than a third of Paycheck Protection Program (PPP) funding went to workers who would otherwise have been laid off. “Almost $366bn – 72% of funding in 2020 – went to households making more than 144,000 per year,” writes The Economist.
Prof. David Autor speaks with New York Times columnist Peter Coy about the new book he wrote with Prof. David Mindell and Elisabeth Reynolds, “The Work of the Future: Building Better Jobs in an Age of Intelligent Machines.” Autor explains that: “Most people’s fear of technology is really a fear of capitalism, what the markets will do with the technology. You can’t make a lot of progress if you’re making people poorer at the same time.”
The Economist highlights new work by MIT researchers investigating the impact of automation on the labor market. A study by graduate student Joonas Tuhkuri finds that at Finnish firms “adoption of advanced technologies led to increases in hiring.” Meanwhile a new book by Profs. David Autor, David Mindell and Elisabeth Reynolds concludes that “even if robots do not create widespread joblessness, they may have helped create an environment where the rewards are ‘skewed towards the top.’”
Fast Company reporter Clint Rainey writes that a new study co-authored by MIT economists finds that the bulk of the loan money handed out through the Paycheck Protection Program (PPP) helped business owners and shareholders. The researchers estimate that “somewhere between 23% and 34% of PPP dollars went to workers who would’ve otherwise lost their jobs,” writes Rainey. “The rest of the loan money—a full two-thirds to three-fourths—landed in the pockets of either the company’s owners or shareholders.”
CNBC reporter Jennifer Liu spotlights a new study by researchers from the Sloan School of Management who found that the biggest factor that leads people to quit their jobs is a toxic work culture. Senior lecturer Donald Sull says, “what’s significant is that toxic workplace factors lead to a ‘stronger reaction’ – quitting – more so than other bad work issues,” writes Liu.
Writing for Fast Company, Prof. Erin Kelly emphasizes the need for employers to implement management practices that support the health and wellness of employees. “Forward-thinking business leaders can adopt sound strategies to reduce the negative impact common management practices have on employee health and well-being,” writes Kelly.
Forbes reporter Christ Westfall spotlights “The Work of the Future: Building Better Jobs in an Age of Intelligent Machines,” a new book by Prof. David Autor, Prof. David Mindell and Research Scientist Elizabeth Reynolds that explores the future of work in America. “The US has allowed traditional channels of worker voice to atrophy without fostering new institutions or buttressing existing ones,” they write. “It has permitted the federal minimum wage to recede to near irrelevance.”
Boston Globe reporter Angela Yang spotlights how the MIT Sloan School of Management has been offering a virtual speaker series focused on preparing students for a changing work and business landscape. Prof. Erin Kelly, who worked on a toolkit launched in July aimed at helping employers create more supportive work cultures, noted that it’s "an exciting moment, because we may be ready to look at how work can be more sane and sustainable across all kinds of occupations.”
Forbes contributor Adi Gaskell writes that a new study by MIT researchers finds increased investment in robotics and automation-based technologies as populations age. Gaskell notes that: “the data shows a strong relationship between the age of the workforce, which was defined as the ratio of workers aged over 56 and those aged between 21 and 55, and the adoption of robotics in 60 different countries.”
Writing for The Wall Street Journal, Prof. Kate Kellogg explores how managers can more effectively help their employees transition to using new technologies. “Managers need to realize that introducing emerging technologies such as artificial intelligence, data analytics and robotics aren’t straightforward,” writes Kellogg. “Managers who hope to successfully implement these technologies need to focus on issues of employee status and roles, and the amount of new work that will need to be done.”
Fast Company reporter Stephanie Vozza writes that Prof. Erin Kelly has found greater flexibility in work schedules and location resulted in higher levels of employee well-being and job satisfaction. “Our study found that increasing employees’ say in when, where, and how they do their work, and conveying support for their personal and family life, both improved well-being and reduced turnover, reducing costs for the company, too,” says Kelly.
Sloan graduate student Haiyi Zhang and Wellesley College Prof. Courtney Coile are conducting an ongoing research effort to understand how the pandemic changed retirement, writes Washington Post reporter Andrew Van Dam. “They found that workers were less likely to retire if they could work from home. However, they didn’t see evidence that local coronavirus outbreaks nor the local job market had an effect on early retirements,” writes Van Dam.
Professor Thomas Malone, director of the MIT Center for Collective Intelligence, speaks with Steven Zeitchik at The Washington Post about our changing understanding of the traditional office setting. “There are many jobs where physical presence is required, of course,” says Malone. “But where it isn’t, I just can’t see any reason we’ll be returning to a traditional office.”
Prof. David Autor joins On Point to discuss the economic and social crisis facing American men. “It matters because we care about the welfare of all individuals,” says Autor. “It affects the people they would partner with, their potential spouses. It affects their children. It affects the level of crime incarceration. It affects the tax base. it affects our ability to grow and innovate in all kinds of ways. We're all kind of in this together.”