Opinion: Advice for CEOs

  • You are overpaid. No CEO should make more than 25x the average salary of non-executive staff.
  • When it comes to performance-based rewards, do not confuse mediocrity with excellence.
  • You should not be getting stock options unless everyone else does.
  • You cannot fire your way into profitability. Any attempt to improve the bottom line by ruining lives will result in your losing your best and brightest. If that happens, whom will you be left with?
  • A company that cares more about what Wall Street thinks than it does about its own employees is bound to fail.
  • A company that places more importance on lawsuits than on making and selling widgets is statistically dead.
  • If you have to fire staff, start with Personnel – it was, after all, if there was a hiring error, it was theirs…
  • …doubly so if they changed their name to “Human Resources”.
  • Do one thing well – too many companies try to be all things to all people – and fail.
  • Corporate mergers that result in reduced competition should be outlawed.
  • Customer Service is about more than telling the customer “No”.
  • Outsourcing Customer Service to India does not work.
  • Neither does “squeezing” your employees for added profitability.
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