Mark Bertolini, Aetna CEO, said companies that focus solely on short-term profits may not be sustainable during the Yahoo Finance All Markets Summit Oct. 25.
To achieve long-term profits, Mr. Bertolini said companies need to operate based on "sound business fundamentals and a well-educated and happy workforce."
It is crucial for companies to invest in both their employees and customers. This practice will yield revenue and earnings for the business. Aetna pays its employees for sleeping and offers tuition assistance, Additionally, the company offers to help employees pay off student loans and urges employees to participate in yoga-mindfulness and pet therapy.
Each year, Aetna spends between $50 million and $60 million on these types of programs. "Right now, we treat machines better than we do people in our businesses, " Mr. Bertolini said. "That should be eliminated. We should either allow for depreciation in employee investment or don’t allow for depreciation in technology and machine investment."