Every quarter, they squeeze in fresh-faced hires at entry-level salaries while quietly ushering out experienced people who've become "too expensive." The irony is they spend thousands recruiting each new hire, then wonder why productivity drops as the newbies spend months ramping up. Meanwhile, the survivors inherit all the institutional knowledge (without raises, naturally) until they too become "cost concerns." It's like watching a company slowly bleed out while refusing to acknowledge the self-inflicted wounds.
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@fh SOOOO true!!
This is what happens in the corporate world these days. Instead of strategic, long-term vision, everything is about hitting the earnings goal for the next quarter. For a long time Allstate resisted this sort of short-term mentality, but while late to the game, it's now operating in this manner with gusto.
The idea of developing and nurturing talent is finished with. Even companies like Allstate have stopped the pretence. Either you come in and do exactly what they expect of you, or else you're fired. God forbid if you're one of the unlucky few who are doing what they should, but have caught the ire of a higher up and still get chopped.
Most important thing that anyone can do is to focus on themselves and their career. There's no duty of care for employees anymore, only you can do what's best for you and your family.
It's only rational that executives try to extract all of the built up knowledge and expertise in SME's. It's a one time trick to exploit them and flush them once all the value is extracted. In the process they will create all sorts of expense reductions and they will be rewarded handsomely for it. They will never be held accountable for depleting that resource from the company because it can't be measured easily. They will move on to the next project after declaring success. The sociopaths will continue to do what sociopaths do best.