Is your boss hopeless?
8:44 am on April 13th, 2010, by MK THNGS HPPN
If you've ever suspected your boss might be hopeless, or just hoplessly overpaid, then you should read Paycheck by David Bolchover.
The dominant feature of today's economy is failure. Even pre-credit crunch, around 80 percent of new products failed within twelve months. The truth is that business success is now incredibly difficult to sustain. The rapid evolution of technology alone provides companies with an overwhelming number of strategic opportunities. Backing the wrong horse can be ruinous with share prices mauled and profits eroded. But it's not just corporations that are feeling the pinch; many of the bright young ventures started by bright young things at the turn of the century are trading at a fraction of their high-tide valuation. That is, of course, if they're still trading at all.
But it's not all gloom. As Homer Simpson might say, the best way to avoid failure is to stop trying to succeed. For many, actually doing the job can be counter-productive. Any reasonably sized company will have enough soft projects for you to cut your teeth on. There's enough corporate rebranding, strategic realignment, market analysis, brand development and product management to get done, without having to worry about producing something, achieving anything or -- God forbid -- actually making a difference. It is now entirely possible to enjoy a successful career without achieving anything, without ever having to work for a successful company or be involved in a successful project.
It should be no surprise then that this culture of success without achievement goes right to the top. The rewards for failure have never been greater. The prize for ruining a company like Marconi, Northern Rock or even the England football team can be a multi-million pound pay-off. How often do we hear about CEOs who have just announced record losses, accepting gilt-edged severance agreements or golden goodbyes?
Bolchover demonstrates how we have become ensnared by the damaging misconception that hard work in the knowledge economy should still be measured by the same archaic criteria as ever. Which in turn begs the questions: How do we measure performance in the new economy of ideas, where there are no rewards for endeavor? And how do we identify and remunerate those who make a genuine contribution and root out those who exploit the contemporary blurring of image and reality?
Posted in Corporate
