Greedy CEOs Damage Company ReputationsDate:05-01-2017 Source:chinamotor
As a motorcycle company CEO, I am always trying to find the right balance for my way of managing, friendship, authority, mutual respect, productivity and more between myself, and the rest of the people under me in the company. Actually the words under me” sort of feel wrong. I don’t like feeling “OVER” anyone. I like to keep the philosophy that we are all working together, and have our individual duties and values. If I begin acting as if I am better than someone else, then the others must in return feel like a lesser person. And that to me is mean and unkind. I care very much for all the people in my company, and I want them to all feel respected, and important. Happiness in the work place makes for a good life in general. Negativity at work can in turn cause personal problems at home, and depression. But, these are just my thoughts.
I came across some very interesting facts the other day. 400 CEOs were examined to learn a few very interesting facts. The study was done over an 8 year period, and the CEOs had to be in office for at least 3 years. Professor Michael Hitt Ph.D of Texas A&M University and Published Author found that when asking what the definition of Greed is. The answer was “The desire for excessive or extraordinary material wealth”. The professor does not believe that making a good paycheck, or being well compensated for a job is not a bad thing. But when it goes beyond that…. It is considered to be “GREED”.
What was found in this research was that most consider the CEO Greedy when there are some of these things found, huge financial perks, private jets, multimillion dollar yachts, company paid luxury vacations that are considered business trips, extravagant company cars or Limos, and so on, where other similar type CEOs do not have these things.
Interesting fact: When it is found that the CEO is greedy, the shareholder value of the company goes down. The more greedy the CEO, the less valued the company. It is thought that the more greedy the CEO, the more damage is done to the reputation of the company. It seems to create distrust with employees, and shareholders. Most feel this super greedy CEO will make poor decisions that are based only on making him or her more money, and not based on doing good for the overall company.
It makes me think of many Governors we have had over the years in the state of California. Our current Governor Jerry Brown has always been very frugal, and never wanted flashy items like a chauffeured limousine, or an expensive car. He drove by himself, and it was a very low priced average car. This simple symbol of not being greedy gained him allot of public trust, praise, and respect.
Are you a big manager, or CEO? I hope this makes sense to you and can help you make wise future decisions. Think of yourself as someone on the assembly line. Making low wages. Working long, hard hours, and maybe not being able to pay all your bills at home. How would you feel seeing your bosses not just making more money than you, but making more than all the workers in your entire factory combined…+ flying around on a private jet. It feels beyond unfair to the average guy. The key word for me is Empathy. Stepping on other people or making them look low, in order for you to reap the benefits of the financial Gods is not just mean. Now there are statistics that show it actually does damage to a company.
We can all build, ship, and sell motorcycles in a kind way to all our brothers, partners, and fellow workers. Just think if the leaders of all our countries felt this way…And reached out a hand to be good to others struggling in life. We would all live in a better world.