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I thought the concensus now was that Welch's leadership under GE was not good. There's been a lot of rants about the utility of stack ranking and this sort of
by rtpg 9y ago
I thought the concensus now was that Welch's leadership under GE was not good.
There's been a lot of rants about the utility of stack ranking and this sort of "fire the worst performers because everyone else is better" attitude. Namely wrong incentives.
You have John Carmack and a clone of John Carmack working on your game engine. You have stack ranking. Which one should you let go during review season? Should you hire some extra people to protect your good people?
- kamaal 9y agoThat worked at GE largely because they were getting rid of the gold watch retirement crowd. That worked in the past as companies had people who worked there all life, and most of the time late in career they would come to work, do nothing all day and go home. Jack Welch was simply doing long pending layoffs.
- gaius 9y agoThat worked at GE largely because they were getting rid of the gold watch retirement crowd You mean, getting rid of people who had been promised deferred compensation, before having to make good on it? That was the deal with old-skool companies, remain loyal for 30 years then ease your way into retirement. GE got the loyalty then shafted those guys.
- kamaal 9y agoThe economic set ups across the world changed. You can't fault companies for doing what was needed. In India many old people got shafted both the ways being asked to take voluntary retirements and being subjected to high inflation rates at the same time.
- gaius 9y agoYou can't fault companies for doing what was needed. Well, you can, or no obligation means anything anymore. Why should a company even pay you your wages if things are a little tight this month, by that logic?
- deleted 9y ago[deleted]
- kamaal 9y agoSalary is an obligation in return for your services. The company doesn't owe a person a job for passing time at office. Its just people woke up to the fact that socialism wasn't a feasible model anymore.
- gaius 9y agoOK, a company decides it won't pay your pension anymore then - identical scenario.
- kamaal 9y agoIts not an identical scenario. Companies don't pay pensions in most countries. These largely get paid through Pension funds, which by and large investment money in Government backed securities. These are debt obligations at the level of a country. On 'your' investments. This is totally different than saying a person should be given a job, even if they don't work.
- gaius 9y agoCompanies don't pay pensions in most countries Ummm airlines and automakers in the US do, or did. Lots of companies/countries are the same.