Absolutely fantastic article; articulate and clear and direct. Thank you!
When these companies have lost their “soul” that the original founders built into them, then they start to treat their human employees as soulless too. And you don’t ask the farm animals which roles they would like or if they’re happy with their new responsibilities.
American companies have never been the friend of the employees.
Capitalism exists to make money and people are just numbers on a spreadsheet.
I spent 30 years in corporate sales and changed companies several times to make more money. I took my advice from Bill Lear, the inventor of the business jet a/k/a the Lear Jet: Don't be afraid to quit your job for a better job.
I used my knowledge of corporate finance, corporate trade laws, Sarbanes-Oxley, etc. to reinvent myself in my 50's and became a Private Investigator specializing in white collar crime.
The corporate fuckery I watched more than a few of the C Suite people engage in taught me never to trust the people at the top. Some of those people went to prison for bribes, wire fraud, etc.
As a PI, I have worked on investigations into more than a few corporate frauds where the top people were arrested for securities fraud, money laundering, etc.
The irony is rich. I now investigate the same type of CEO's and Directors who affected me by cutting benefits; demanding more hours for no corresponding pay increase; and slashed costs so they could make more money.
I shocked my employer of 16 years when I quit in 2005. They were still of the old mindset and I was about to step into the C suite. I had a desire to do my own thing and bailed out. So glad I did. A couple of years ago they were bought out and the old guard of loyal 25yr+ people were slowly sidelined and forced out. I've built more than one company since then and am light years ahead of where I would have been had I stayed. I didn't get the 25 year Rolex but hey, I kinda dig my Apple watch and the freedom that comes with buying it myself.
I learned the lesson late in my career, but company loyalty is the biggest lie. I've been with my current employer for over 7 years, and I think I am furniture to them now, they take me for granted. I was stunned by how much more money I could make somewhere else just by jumping ship.
Jul 6, 2022·edited Jul 6, 2022Liked by Marc Cenedella, Author
Well, until Blackrock/ESG and WEF changed the shareholder interest paradigm to stakeholder interest and moved from a profit incentive to ESG score and Woke quotient, that may have been true. Things are changing yet again.
Even those CEOs focusing on the numbers today aren't looking at long term growth but meeting their quarterly numbers to ensure their bonuses - even stock options aren't incentives but perks since at that level they just get more of them to compensate for the diminished value - as long as they meet quarterly commitments, no matter the long term effect on the ultimate shareholder value (compared to the day trader or fund manager who ranks them).
They are not coaching the team, but instead just managing the spread.
Amazing read today. As a millennial (albeit on the older end), I have been on the receiving end of a heavy 'traditional talk track' about career change that you mention here. "No loyalty anymore", "your generation doesn't want to work hard", "no desire to grow at one company", etc. etc. ad nauseam.
It becomes quite frustrating to hear, especially when the opposite signs are so evident in the market (as you point out). So well-written and really hits home.
Career mobility is not only a personal benefit, but a survival skill.
Admittedly, I initially thought this article was an ode to employers and a dig at employees. Thankfully, it was so much more and accurate. It also reconfirms my decision and commitment to continue coaching leaders and business owners how to develop their Emotional Intelligence. Leaders need it, employees should benefit from it, and customers/stakeholders, should win because of it.
Jul 6, 2022·edited Jul 7, 2022Liked by Marc Cenedella, Author
"So instead of being loyal to a Delaware C corporation, your loyalties should be to the people and teams that you work with".
Well said. As someone has jumped 11 companies in 10 years and excels in my domain, I am a believer. The duration of the employment is never a factor in my calculation.
What I have been optimizing for is learning opportunity and level of impact. That is my true north no matter which company and what industry I work in.
I am also a true believer in pay-it-forward, to the people above me, around me and below me. Thus I have a strong network of advocates and supporters whenever I need them.
You said "It’s not your company that comes first, but your network: building a reputation as a team player, a reliable colleague, and an effective boss is what will get you ahead."
I updated the old aphorism:
It's not what you know,
It's not who you know,
It's who knows you.
When a team needs what you can contribute, will someone in the room have your name at the top of their mind? Will they risk their own reputation to vouch for you, based on their experience the last time they worked with you?
I’ve viewed my time in corporate r&d as doing “tours of duty” where I wanted to see if I could stay somewhere long term. The philosophy I’ve operated on has been to get accomplishments done within 1-2 years. The more difficult the better. This way when it comes time to get a new gig I’ve got a good track record of patents and/or public product launches.
Companies always do what is in their best interest and make long term engagement difficult. I always feel slightly guilty when quitting, but they wouldn’t feel bad laying me off.
I am gonna give the federal government a try next. Higher pay than what I was making as a corporate scientist too.
Jul 6, 2022·edited Jul 6, 2022Liked by Marc Cenedella, Author
I think this statement is reasonable and lucid and for me a lesson. I have been reading of people quitting their jobs and getting new jobs, but I have also read of people not being given time to get good and being asked to leave, so quitting appears to be risky.
I like the article and will save it. It is very relevant as a guidepost.
Astute observations from someone who has obviously experienced the trenches. And the data around who's leaving and what it costs to replace them will hopefully encourage a few pivots.
Absolutely fantastic article; articulate and clear and direct. Thank you!
When these companies have lost their “soul” that the original founders built into them, then they start to treat their human employees as soulless too. And you don’t ask the farm animals which roles they would like or if they’re happy with their new responsibilities.
Well said!!! Work-life has changed...it's changed how our mind sees life and work.
American companies have never been the friend of the employees.
Capitalism exists to make money and people are just numbers on a spreadsheet.
I spent 30 years in corporate sales and changed companies several times to make more money. I took my advice from Bill Lear, the inventor of the business jet a/k/a the Lear Jet: Don't be afraid to quit your job for a better job.
I used my knowledge of corporate finance, corporate trade laws, Sarbanes-Oxley, etc. to reinvent myself in my 50's and became a Private Investigator specializing in white collar crime.
The corporate fuckery I watched more than a few of the C Suite people engage in taught me never to trust the people at the top. Some of those people went to prison for bribes, wire fraud, etc.
As a PI, I have worked on investigations into more than a few corporate frauds where the top people were arrested for securities fraud, money laundering, etc.
The irony is rich. I now investigate the same type of CEO's and Directors who affected me by cutting benefits; demanding more hours for no corresponding pay increase; and slashed costs so they could make more money.
Still, employee recognition goes a long way, especially when that company brags on all the profits it made. Tired of being just a cog in a wheel.
I shocked my employer of 16 years when I quit in 2005. They were still of the old mindset and I was about to step into the C suite. I had a desire to do my own thing and bailed out. So glad I did. A couple of years ago they were bought out and the old guard of loyal 25yr+ people were slowly sidelined and forced out. I've built more than one company since then and am light years ahead of where I would have been had I stayed. I didn't get the 25 year Rolex but hey, I kinda dig my Apple watch and the freedom that comes with buying it myself.
I learned the lesson late in my career, but company loyalty is the biggest lie. I've been with my current employer for over 7 years, and I think I am furniture to them now, they take me for granted. I was stunned by how much more money I could make somewhere else just by jumping ship.
Well, until Blackrock/ESG and WEF changed the shareholder interest paradigm to stakeholder interest and moved from a profit incentive to ESG score and Woke quotient, that may have been true. Things are changing yet again.
Even those CEOs focusing on the numbers today aren't looking at long term growth but meeting their quarterly numbers to ensure their bonuses - even stock options aren't incentives but perks since at that level they just get more of them to compensate for the diminished value - as long as they meet quarterly commitments, no matter the long term effect on the ultimate shareholder value (compared to the day trader or fund manager who ranks them).
They are not coaching the team, but instead just managing the spread.
PREACH!
Amazing read today. As a millennial (albeit on the older end), I have been on the receiving end of a heavy 'traditional talk track' about career change that you mention here. "No loyalty anymore", "your generation doesn't want to work hard", "no desire to grow at one company", etc. etc. ad nauseam.
It becomes quite frustrating to hear, especially when the opposite signs are so evident in the market (as you point out). So well-written and really hits home.
Career mobility is not only a personal benefit, but a survival skill.
Admittedly, I initially thought this article was an ode to employers and a dig at employees. Thankfully, it was so much more and accurate. It also reconfirms my decision and commitment to continue coaching leaders and business owners how to develop their Emotional Intelligence. Leaders need it, employees should benefit from it, and customers/stakeholders, should win because of it.
"So instead of being loyal to a Delaware C corporation, your loyalties should be to the people and teams that you work with".
Well said. As someone has jumped 11 companies in 10 years and excels in my domain, I am a believer. The duration of the employment is never a factor in my calculation.
What I have been optimizing for is learning opportunity and level of impact. That is my true north no matter which company and what industry I work in.
I am also a true believer in pay-it-forward, to the people above me, around me and below me. Thus I have a strong network of advocates and supporters whenever I need them.
Thank you for the perspective. Wish I’d read this 10 years ago!
You said "It’s not your company that comes first, but your network: building a reputation as a team player, a reliable colleague, and an effective boss is what will get you ahead."
I updated the old aphorism:
It's not what you know,
It's not who you know,
It's who knows you.
When a team needs what you can contribute, will someone in the room have your name at the top of their mind? Will they risk their own reputation to vouch for you, based on their experience the last time they worked with you?
I’ve viewed my time in corporate r&d as doing “tours of duty” where I wanted to see if I could stay somewhere long term. The philosophy I’ve operated on has been to get accomplishments done within 1-2 years. The more difficult the better. This way when it comes time to get a new gig I’ve got a good track record of patents and/or public product launches.
Companies always do what is in their best interest and make long term engagement difficult. I always feel slightly guilty when quitting, but they wouldn’t feel bad laying me off.
I am gonna give the federal government a try next. Higher pay than what I was making as a corporate scientist too.
I think this statement is reasonable and lucid and for me a lesson. I have been reading of people quitting their jobs and getting new jobs, but I have also read of people not being given time to get good and being asked to leave, so quitting appears to be risky.
I like the article and will save it. It is very relevant as a guidepost.
Astute observations from someone who has obviously experienced the trenches. And the data around who's leaving and what it costs to replace them will hopefully encourage a few pivots.
Perfectly stated. EVERY person employed in Corporate America needs to read and put this advice in practice.