This is the truth.
5 replies (most recent on top)
Right on.
Good news: Yesterday, Mattel officially established an annual date for Employee Appreciation Day.
Bad news: It's February 29.
There is a lot of truth in the last reply but in many cases the facts around a company's current leadership, their track record and recent job history speak volumes and are often ignored. The 10+ year history of top management leaders is pretty public information for large public corporations and supports your point in many cases. Boards have access to these facts. How does a board member sit for 15 years or more and watch a company drive into a wall for 10 of those years? Sadly, its common. I thought these people were placed on a corporate board because they have the experience and knowledge not to get snowed by management. They are supposed to serve the shareholders, not themselves and corporate management but we know this isn't how it appears in 2016. It looks like the rich get richer and being on a board helps the rich get richer, don't make waves or do the right thing unless you see an opportunity for yourself. This is a systemic problem. I think a 15-20 year board member now runs your company and yours is not the only current case of this. I wonder how the board's role has changed since he moved from long time board member to management? It would be great to hear his views on this. Maybe someone should ask at the next all employee meeting.
Amen.
I don't buy for one minute that the executives who are pulling down multi-million dollar compensation packages work any harder or smarter than a lot of the other employees. It is immoral how much money corporate executives are paid & the board members who award these bloated packages need to be voted out. Mattel execs & board members are obsessed with trying to drive up the company's stock price. If they would instead focus on hiring & retaining the best employees with an eye toward creating quality products that people actually want to buy, the stock price would take care of itself. Mattel exec's presentation to its stock holders basically said they're raising wages for upper management & offsetting this by cutting or outsourcing lower level jobs. These guys are morally bankrupt. The claim that executive salaries must be high in order to attract the best talent is sloppy propaganda. Mattel is paying some huge salaries to the top executives & yet the company continues to have failure after failure after failure. The CEO's of the world are not special. They are not geniuses. They are just plain old human beings like the rest of us. There are millions of people in this world who are capable of running the world's corporations a lot more effectively & for a LOT less pay. If you want a company to succeed, pay the guys at the top a lot less & use that savings to hire more lower level staff (who are actually doing the work).
Not Millennials. They will do the least they can get away with, talk in clichés, and leave early to beat the traffic.