Thursday, January 21, 2010

Who should speak out about those high bonuses

I realize this may be a belated response to the high bonuses on wall street, and certainly I don't care as much as Americans, as it wasn't my tax dollars that went to those little vampires (well I would have voted Clinton, and she'd have arrested those guys). However, for all the people that have been angrily speaking out against this, there is one group that has remained silent, whereas I feel they would have had the greater impact on the validity of those bonuses. So the reason I'm blogging about this today and not last year is because I couldn't think of that group, I just felt there was something missing.

Context: I'm an HR professional.

The group I'm thinking of is, of course, HR professionals. We have the experts in motivation - what will make a worker work harder, what will make a worker loyal to the company, what can we do to keep them from leaving? Thing is, any HR person worth their salt, and even most who aren't, would tell you that at a certain point, money is just not that significant. If you're making 50,000 a year, getting a 10,000 dollar bonus is incredible. It's maybe 5 mortgage payments, a family vacation, a small kitchen renovation, or just huge investment in your retirement. If you're making 40,000,000 a year, and you get another 10,000,000... What are you going to use that for that you couldn't do with the first 40? It's lunacy to suggest that these bonuses are required to keep talent, if that's the only thing keeping your mercenaries employees loyal, then you need to reevaluate your hiring and retention practices.

So I'm calling out HR associations everywhere to call these people out on their bluff, and get those poor people their money back.

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