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0 pointsrmc12y ago0 comments

So you're suggesting that the company change how it does employment to have more old fashioned, long term employment. But how do you convince someone of that? Everyone is saying "We're different, we'll look after you!".

You could do it with contracts & law. Offer 10 year salaries-index-linked-at-a-minimum employment contracts. Employment contracts that specifically state the employer won't do things like outsource, (or if you're in USA won't do 'at will'). Employment contract that'll give 5 times the legal minimum of redundancy leave. Require that upper level management/directors don't get bonuses if there's been any pay freezes or pay cuts. Lots and lots of little things like that might be a way.

This will (obviously) restrict the business, and limit its resaleability. ("Come buy us out, you just have to pay 50 people for the next 8 years").

0 comments

ameister1412y ago

To be honest, a lot of it is about the character and credibility of management. If you work for a guy who is openly against outsourcing, you can generally expect them not to outsource. If you work for someone who was hired by the board to cut costs, you can expect them to do that in any way possible, even if it harms the company long-term.

Yes, contracts play a role in this and it would definitely limit a business' sale price. But the thing is, if you're looking long-term, why would your exit strategy be acquisition?

Money is the main motivator in financial services. People don't really have any other metric to use for their performance, so they are paid a lot. In other industries, though, you have many alternatives to pure financial reward, and people are actually happier.

I don't know if this would entirely work or not. I'm just saying that it makes sense to me and that many people value stability and appreciation for their skill a great deal.

rmcOP12y ago

Sure, the management matters, but how do you convince a prospective new hire of what the manager believe? You are then limiting your possibilities for new management hires.

Other non-financial industries use money aswell. Doctors for one.

ameister1412y ago

That's where brand management and PR come in. Plus if you foster a certain environment in your company when someone comes in they can feel it.

Actually the medical profession is an interesting example. Doctors get paid very little initially and don't move often.

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0 pointsrmc12y ago0 comments

This will (obviously) restrict the business, and limit its resaleability. ("Come buy us out, you just have to pay 50 people for the next 8 years").

0 comments

ameister1412y ago

Yes, contracts play a role in this and it would definitely limit a business' sale price. But the thing is, if you're looking long-term, why would your exit strategy be acquisition?

I don't know if this would entirely work or not. I'm just saying that it makes sense to me and that many people value stability and appreciation for their skill a great deal.

rmcOP12y ago

Sure, the management matters, but how do you convince a prospective new hire of what the manager believe? You are then limiting your possibilities for new management hires.

Other non-financial industries use money aswell. Doctors for one.

ameister1412y ago

That's where brand management and PR come in. Plus if you foster a certain environment in your company when someone comes in they can feel it.

Actually the medical profession is an interesting example. Doctors get paid very little initially and don't move often.

j / k navigate · click thread line to collapse