Comment by Apocryphon
Comment by Apocryphon 14 hours ago
This soullessness wasn't always the case. Prior to the cost-cutting minmaxing of Jack Welch's industries-influential tenure as CEO of General Electric, corporate America wasn't quite so brazen about layoffs, because they weren't viewed as a way to maximize shareholder returns- and shareholder value wasn't viewed as the only priority for corporate leaders. (He also introduced what would later become stack ranking at Microsoft and other tech companies.)
On the other side, certainly a fluid labor market such as tech was a couple of years ago would foster a lack of loyalty, as employees hop from employer to employer for rapid career growth.
None of this necessarily contradicts with your point. It's just labor relations don't exist in a vacuum. Sometimes a lot needs to be done to earn trust in a low-trust cultural environment.
But also there were actual benefits to loyalty that don’t exist anymore. Labor union participation was huge in the post WWII, pre-Welch time frame. They used that leverage to negotiate benefits, many of which rewarded loyalty. Pension plans vs 401ks, significant pay raises based on seniority, clear paths to promotion, job security prioritizing senior workers, etc. Those things permeated through job markets and companies without unions as well, given the labor force competition. People were loyal because they had real tangible compensation and benefits for it.
I think another shift around Welch was that companies used to focus more on long term value, which would result in stock price increases in the long term, even if not in any given short term. That if a company was healthy and valuable, one of the many benefits would be rising stocks. The shift to focus on short term stock increases as almost the only goal, means companies will pull the copper piping out the walls and destroy the house if it means a juicy bump in the Q3 earnings call.