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What prevented employees from jumping ship before? Was there better long term benefits associated with staying with a company?
by mr-ron 14y ago
What prevented employees from jumping ship before? Was there better long term benefits associated with staying with a company?
- _delirium 14y agoYes, on the latter point: vacation time and pensions typically increased based on length of service with the company. You ended up with a much worse pension if you had 10 years' service with each of four companies, than if you had 40 years' service with one company, under the traditional defined-benefit pension schemes. There are probably a lot of cultural changes influencing it though, perhaps more; changing jobs frequently as a salaried professional just wasn't something many people in my dad's generation actively considered. One of many factors might be the change in how promotions are done; it used to much more often be "within the ranks". You worked your way up to FooBar VP or even FooBar CEO by starting in a regular job and getting promoted up the ladder, which required staying at the company for a long time. Now it's more common to hire external people right into senior posts.
- easp 14y agoYeah, one of the long term benefits was that you could work there your whole career, if you wanted to. By the mid-80s though, it was clear that layoffs were to become a regular fixture of corporate life.