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> They have a stable of people owed favors they may appoint to C-suites of startups, at inflated salaries. HR departments are good for bleeding; startups rarely
by version_five 4y ago
> They have a stable of people owed favors they may appoint to C-suites of startups, at inflated salaries. HR departments are good for bleeding; startups rarely have an HR VP in mind.
In my limited experience I've seen this happen even at ostensibly successful firms that raised big VC amounts. I've also seen it in smaller places. Curious if this basically happens everywhere, or if it really is just signaling that the VCs know it's going nowhere even after they just paid in big $.
- pianoben 4y agoI think that often it's less about repaying a favor, and more about bringing in a ringer to take a stagnant/failing investment to a soft landing (acquihire or similar). Well, that's when they boot the CEO/COO. For HR VPs, who knows.
- jasmer 4y agoThose would be completely different exercises though, one with fiduciary rationality (bringing in a fixer), the other definitely not (placing friends in high places for rewards).
- moloch-hai 4y agoIt is generally a very strong bet that any HR director will be deeply on the take. Companies know this, but need to have HR directors, and have to take who they can get. Nobody makes a career in HR for love of it. If C-suite can't tell what HR's grift is, it might be much worse than the usual, so they accept the usual. This is often kickbacks from outsource, insurance, and training companies, but there is plenty of scope for creativity. HR conferences are mainly for after-hours scheming. Facilities managers are also often grifters, but not so reliably.
- Hnrobert42 4y agoThis is wildly inaccurate. I know plenty of HR folks (directors and otherwise) who are perfectly ethical and enjoy their job.
- moloch-hai 4y agoI acknowledge exceptions.