How Understanding and Acting on Workers’ Perspectives Drives Small Business Success: Lessons From Shared Success CDFIs

Maya Smith

Research Associate

Description

Poor job quality in small businesses harms worker wellbeing, weakens businesses, and hinders economic inclusion and resilience. Small business owners often have limited resources to make job quality improvements. Listening to workers can help small business owners prioritize making job quality changes (e.g., increasing compensation, creating predictable schedules, or providing training opportunities to workers) that are most valued by workers. Supporting small business owners in understanding and acting on workers’ perspectives is a promising practice for simultaneously advancing job quality and small business development organizations’ missions to promote economic resilience.

This brief shares lessons from the Shared Success demonstration, led by the Aspen Institute Economic Opportunities Program, during which 11 community development financial institutions (CDFIs) integrated job quality programming into their small business support services. As a part of the demonstration, four of the 11 Shared Success CDFIs supported small business clients in understanding and acting on workers’ perspectives to improve job quality. The brief details how these CDFIs adapted a focus on workers’ perspectives into their advising services, what CDFIs and small business owners heard from workers, and the types of job quality improvements changes made by small business owners as a result. 


About Shared Success

Shared Success, a project of the Aspen Institute Economic Opportunities Program, shows how building better jobs can simultaneously uplift workers while also driving small business success.

About the Economic Opportunities Program

The Aspen Institute Economic Opportunities Program advances strategies, policies, and ideas to help low- and moderate-income people thrive in a changing economy.

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