" What we want to do is call attention to the fact that when workers and business work together, when you create a stakeholder model of corporate governance, where you understand that you can do well by your workers, you can do well by your shareholders and you can do well by your customers, that’s how we create a virtuous cycle. "
- Tom Perez

In simple terms, Tom Perez suggests that when businesses collaborate closely with their workers rather than treating them as mere employees, a win-win situation can be achieved for everyone involved. This approach encourages companies to adopt a stakeholder model where they consider not just profits but also the well-being of their workforce and customers.

Delving deeper into this perspective, Perez emphasizes the importance of fostering an environment in which corporations prioritize long-term sustainability over short-term gains. By ensuring that workers feel valued and are treated fairly, businesses can enhance productivity and innovation, leading to better products and services for customers. This model also helps prevent labor issues such as strikes or high turnover rates, thereby stabilizing operations and boosting shareholder confidence. Ultimately, Perez argues that a company’s success is not just measured by financial metrics but also by the positive impact it has on society.

Tom Perez, the author of this quote, is an American lawyer and politician who served as the Secretary of Labor under President Joe Biden from 2021 to 2023. He has been a strong advocate for workers' rights and labor unions throughout his career, which aligns with the ethos expressed in the quote about fostering cooperative relationships between businesses and their employees.