Incentive bonuses leave reader shaking his head

Incentive bonuses leave reader shaking his head
 
Date November 23, 2005
Section(s) Opinion
Brief  
 
To the Editor:

The front page article in last Wednesday’s Newton Daily News regarding incentive and bonus plans for the top execs at Maytag just left me shaking my head.

When you work in the small business community and are a small business owner, you understand the relationship between running a financially sound business, providing services to your customers, quality of product and then the financial benefit you receive from that.

That basic business philosophy seems to have been significantly lost on large corporate America these days. If you could sit in a college economics class a few years from now and do a case study on how corporate mismanagement and greed drove a once solid company into the ground in just a very short time, you probably couldn’t pick a better example than Maytag.

A client of mine, a Maytag retiree with more than 30 years of service, commented that for all the years he worked there, they had an esprit de corps amongst the employees. They had pride in what they did and the product and service they provided.

That’s pretty much out the window now and for that the execs get an incentive bonus! When you read these kinds of stories, from whatever company, these kinds of actions are always rationalized one way or the other.

The good news is that the small business world, for all its challenges, still has a pretty good grip on the real world and business is usually conducted in an ethical and upright manner. I’m glad I’m part of that world where you’re compensated for what you honestly earn.

Dennis DenHartog

Newton

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