Employees as Customers in a Multi-Sided Market | Geoffrey Parker

09/27/22 • 49 min

Two-sided markets are revolutionizing the way we do business, and in time, it may revolutionize the way we think about employees as well.
Dartmouth Professor Geoffrey Parker has spent years researching and writing about platform business strategies that leverage two-sided markets like eBay, Airbnb, and Uber.
Geoffery is the co-developer of the theory of two-sided markets, the co-author of Platform Revolution, and has made significant contributions to the field of network economics and strategy.
In this episode, Dart and Geoffrey talk about employees as outside producers at one end of a multi-sided market, how to optimize choice and non-monetary micro-economies in the workplace, the pros and cons of salary-based work, how to attract employees beyond money and benefits, and much more.
Topics Include:
- The history of multi-sided markets
- How to attract the kind of work you want within a company
- Calculating lifetime value and churn
- Improving employee retention
- What people really want from work
- Building the kind of work people want
- Pros and cons of online work vs on-premises
- The unintended consequences of viewing employees as inputs to production
- And other topics...
Geoffrey Parker is a professor of engineering at the Thayer School of Dartmouth College, where he also serves as director of the Master of Engineering Management Program. Before joining Dartmouth, Geoffrey was a professor of management science at the A. B. Freeman School of Business at Tulane University and served as Director of the Tulane Energy Institute.
Geoffrey is also a visiting scholar and fellow at the MIT Initiative for the Digital Economy where he co-chairs the annual MIT Platform Summit and the annual BU Platform Research Symposium, and he is a fellow at the Luohan Academy and the Stanford Digital Economy Lab. As well as co-authoring the book Platform Revolution, Geoff is the co-developer of the theory of two-sided markets and has made significant contributions to the field of network economics and strategy.
Resources Mentioned:
Geoffrey’s Website: https://ggparker.net/
Barry Schwartz on Work For Humans: https://www.buzzsprout.com/1949517/11170487

Work with Dart:
Dart is the CEO and co-founder of the work design firm 11fold. Build work that makes employees feel alive, connected to their work, and focused on what’s most important to the business. Book a call at 11fold.com.

Previous Episode

7 Rules For Gaining Power and Influence Within Your Organization | Jeffrey Pfeffer

What comes to mind when you hear the word power? Whether or not you’re ambivalent about the idea of power, there’s no denying its role in the workplace.From bureaucracy and hierarchy to performance reviews and incentive plans, power dynamics are on full display in the workplace. So how can we show up powerfully at work and wield influence within our organizations?
Dr. Jeffrey Pfeffer is a professor of organizational behavior at the Stanford University Graduate School of Business. He's the author of many books including The Human Equation, Dying For Paycheck, and most recently The 7 Rules of Power: Surprising–but True–Advice on How to Get Things Done and Advance Your Career.
In this episode, Dart and Jeffrey discuss the thesis of Jeffrey’s recent book The 7 Rules of Power. They discuss the relationship between power and formal titles, how leaders rise to the top, how to gain power and influence, how companies can generate higher profits by putting people first, and much more.
Topics Include:
- Why people are ambivalent about power
- Defining power, influence, and control
- The purpose of power
- Dying for a paycheck
- The knowing-doing gap
- Gaining influence with powerful people
- The modern plight of HR departments
- And other topics...
Jeffrey Pfeffer is the Thomas D. Dee II Professor of Organizational Behavior at the Graduate School of Business, Stanford University, where he has taught since 1979. Before Stanford, Jeffrey taught at the University of California, Berkeley, and the University of Illinois. Jeffrey has been a visiting professor at Harvard Business School, London Business School, Singapore Management University, and IESE in Barcelona. He has given talks in 39 countries and received an honorary doctorate from Tilburg University in The Netherlands.
He currently writes a twice-monthly column for Fortune.com, and in the past has written for Business 2.0, the CEIBS Business Review (China), Capital Magazine (Turkey), and for numerous other blogs in the U.S. He is also the author of several books including the Human Equation, The Knowing-Doing Gap, Dying for a Paycheck, Hard Facts, Managing with Power, and the 7 Rules of Power. Jeffrey currently serves on the board of Berlin Packaging and a nonprofit, Quantum Leap Healthcare
Resources Mentioned:
7 Rules of Power by Jeffrey Pfeffer: https://www.amazon.com/Rules-Power-Surprising-but-True-Advice-Advance-ebook/dp/B09FPGBG22
The Human Equation by Jeffrey Pfeffer: https://www.amazon.com/Human-Equation-Building-Profits-Putting/dp/0875848419
The No Asshole Rule by Robert Sutton: https://www.amazon.com/The-No-Asshole-Rule-audiobook/dp/B000NOKBYS
Influence by Robert B. Cialdini: https://www.amazon.com/Influence-Psychology-Persuasion-Robert-Cialdini/dp/006124189X

Next Episode

How Candidates Are Choosing Jobs, Shift Shock, and the New Rules of Work | Shalya Thurlow

Work culture is changing, and it's changing fast. The old norms of toughing it out and sticking with a new job are fast being replaced by notions of employee autonomy and choice. A recent survey from the Muse found that 80% of active job seekers believe quitting a new job in less than 6 months is acceptable if it doesn’t live up to expectations. In the modern workplace, it is workers who are pushing the envelope, and they are doing it with their feet.
Joining us today is Shayla Thurlow, VP of People and Talent Acquisition at The Muse – a platform with 7 million monthly users that helps people find work that matters to them by matching job seekers with coaches, career advice, and employers. Unlike other sites that focus largely on skills, the Muse is focused on things like values, purpose, and culture.
In this episode, Dart and Shayla discuss the experience of “Shift Shock”, what job seekers are saying is the most important feature they are looking for in their next job, what flexibility in the workplace really means, how HR professionals can approach this new landscape, and much more...
Topics Include:
- Defining shift shock, and how to avoid it with new hires
- Modernizing HR technology
- Questioning the emphasis we've placed on grit
- What employees really mean by work-life balance
- How candidates are choosing jobs today
- Importance of offering learning and growth opportunities
- Advice for HR professionals
- And other topics...
Shayla Thurlow is the VP of People and Talent Acquisition at The Muse, a company that is serving as the go-to destination for the next-gen workforce to research companies and careers. With nearly two decades of experience in human resources, Shayla is passionate about creating workplace cultures where employees can thrive. Before joining The Muse, Shayla worked in various industries and has held roles in many areas, including talent acquisition, diversity and inclusion, performance management, and leadership training and development.
Resources Mentioned:
The Muse’s Shift Shock survey: https://www.themuse.com/advice/shift-shock-muse-survey-2022
The New Rules of Work by Kathryn Minshew and Alex Cavoulacos: https://www.themuse.com/thenewrulesofwork