CEO of $90 billion Waste Management hauled trash and went to 1 a.m. safety briefings—‘It’s not always just dollars and cents’

For night owls like Waste Management CEO Jim Fish, waking up at 1 a.m. for safety briefings can make for a long day. But Fish did it because his late father-in-law, a union pipefitter, told him that if he attended these meetings — not just once, but regularly — he would learn a lot and build a rapport with the line workers.

Fish’s father-in-law hit the nail on the head.

“It’s been very valuable to me in terms of learning the business and getting to know people,” Fish said. wealth. “Part of what I’ve learned — and I’ve always been a financial person — is that it’s not always just dollars and cents.”

Waste Management views safety as a cornerstone of its operations and has set a goal of reducing its Total Recordable Injury Rate (TRIR) by 3% annually by 2030, with a TRIR target of 2.0. If companies achieve this goal, it would mean that 2 workers per 100 employees or every 200,000 hours worked would suffer a recordable injury each year. According to its sustainability report, the company saw a 5.8% decrease in overall workplace injuries last year and a 2.4% decrease in lost-time injuries.

“You make investments in safety or people, and they don’t necessarily show up in the bottom line — at least not right away,” Fish said. “Safety tends to show up over the longer term, and if you do have a safe organization, it will eventually show up on your profit and loss statement – ​​but it takes a while.”

Waste Management is the largest provider of waste and recycling transfer and disposal services in the United States and Canada, with revenue expected to reach $22 billion by 2024. The Houston, Texas-based company has a market capitalization of approximately $90 billion and has more than 60,000 employees. Fish, 63, has served as president and CEO since November 2016 and has been with the company for 20 years. Before taking the top job, Fish served as chief financial officer, senior vice president of the Eastern Group and regional vice president of Pennsylvania and West Virginia.

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Until he was halfway through his tenure as CFO, Fish would go out about once every four to six weeks to haul trash with his staff—usually whenever he was in a middle-of-the-night safety meeting. Eventually, the board told him they weren’t crazy about the idea of ​​him throwing away trash, but he could still ride in the truck with the workers. Now, Fish said he visits about 20 to 30 locations a year and rides with drivers about five to 10 times. He told them any topic was fair game, including sports, politics, safety or pay, but they had to make sure to chat or Fish might fall asleep.

“Most drivers are a little nervous when I get in the cab, but after about 10 minutes, they relax and tell me what they’re thinking,” Fish said.

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