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This is the right answer. As long as corporations continue to promote management based on headcount instead of promoting based on outcomes/leadership in tough s
by nine_zeros 3y ago
This is the right answer. As long as corporations continue to promote management based on headcount instead of promoting based on outcomes/leadership in tough situations, there will only be more and more empire building.
Even if interest rates do not decline, the empire builders will only migrate from current set of tech companies to other companies that are seeing a boom.
Remember, the goal of management is not innovation or working in specific industry. It is to build larger empires and to climb up an arbitrary ladder.
- badpun 3y agoThe companies themselves were empire-builders. In the absence of profits, wall street had to use other metrics to assess future profitability, and headcount, as dumb as it sounds, was one of them.
- cutemonster 3y agoWhat types of companies do you have in mind? I've gotten the impression that some startups hire a bit many people (to impress investors, and friends/peers?), otherwise I haven't heard about that. I'd thought shareholders of public companies, though, care more about revenue and mostly don't know how many employees each company has? (And that primarily middle managers are doing the over-hiring?) If you have a link where I can read more :-)