5 Minutes Free Writing - Not an Economist
Good morning all, doing my 5 minutes free writing with prompt - Not an Economist. Hope you enjoy the story.
Today during the company's annual "Meet the CEO" session, the overall mood was joyous, as the company has just reported higher than expected revenue with increases YoY across all segment of the business.
Company stock went soaring on after hours demands, but the speech made by the CEO kept everyone puzzled. Sandy included.
Sandy is not an economist, she's a rank and file worker who is always looking towards the year end bonus and increment for her Christmas shopping and pay her larger bills like medical insurance. But the CEO is cautioning against a lower than expected bonus payout amidst difficult market condition and stressed company wide cost saving effort to go into highest gear.
It don't take one to be an economist to guess that with record revenue every quarter till date yet we are going to miss on profit target, someone must have done the math wrong somewhere during the target setting, yet they are unwilling to admit and adjust the number.
"It's incredibly disheartening to hear that record revenues won't translate into rewards for the employees who made it happen. The CEO's message feels that a classic case of 'socializing the risk and privatizing the reward.' Leadership sets ambitious targets for us and when external factors make them unachievable, the burden falls on us through the lower bonuses and austerity measures, while the stock price soars based on top-line number they just celebrated. It feels like a disconnect between people doing the work and people setting the strategy.
Thanks for your message, you are absolutely right. Top brass are getting larger packages annually while lowest ground are struggling to get the numbers together. Sadly it is happening.
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This seems like a dilemma between the management team and the workers.
The gap should be closed by a simple strategic meeting during goal setting to align all stakeholders.
Once ther is a clear focus on the goals and parameters set in motion for a result driven objectives.
Operationalising the strategy won't be difficult.
The drive too will be seamless as all hands will be on deck with clear vision and an eye on the targets.
When those parameters and targets are met.
Meeting employees yearly compensation and benefits wouldn't be an issue.
Because the indicators will clearly outline the data analytics showing all achievements 🙄 😉 👍
This will lead to a win-win situation to all stakeholders and drive motivation across board when the employees are duly regarded.
Thanks for the insights, I do agree, but I think the top guys were too optimistic, overlooking the macro factor that they cannot control but hit them real hard. Thus the goal ran off track but still keeping in the green zone but not green enough.
Oh, really, they can restrategise and move back in track.
They can also put up checklist to track progress and measure their deliverables.
This will help them keep on track.
Sometimes over excitement during green days will lead to an oversight ,thus missing important factors to consider while running 🏃♀️ 😀
Yeah, true, being overly confident
Exactly 💯 💯 💯
Interesting story
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