(From NYT.com, By JON PICOULT) IMAGINE a workplace where all the plum assignments, all the bonuses and all the promotions are steered to relatives, friends and other members of an executive’s inner circle. In any self-respecting organization, such a practice wouldn’t be tolerated.
Most companies purport to be meritocracies, claiming to reward, recognize and promote employees based on workplace achievements, rather than on educational pedigree, political connections or other criteria not based on merit. In a meritocracy, advancement doesn’t hinge on who you know; it’s based on what you’ve accomplished.
Whether or not the companies that fly the meritocracy flag are really meritocracies is a commentary for another day. But one thing is clear: meritocracies are good. When promotions and big bonuses are awarded based on connections and relationships, without regard to individual merit, companies lose credibility and set the stage for an exodus of real talent.
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Tags: workplace, retention, reward
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