Top CEO Worry for 2022: Job Security (axios.com) 49
Powerful CEOs worry about their job security as much as the rest of us do -- in fact, maybe even more. From a report: An eye-popping 72% of CEOs are worried about losing their jobs due to the disruptions facing their industries, according to a new report out today from the global consulting firm AlixPartners. That figure jumped 20 percentage points compared to just a year ago, when 52% of CEOs told AlixPartners they were anxious about job security.
The frenetic pace of change in businesses and the world has accelerated since the onset of the pandemic -- leading to a spike in CEO anxiety. 94% of executives say their business models need to change within the next three years -- but 57% fear their company isn't adapting fast enough.
The frenetic pace of change in businesses and the world has accelerated since the onset of the pandemic -- leading to a spike in CEO anxiety. 94% of executives say their business models need to change within the next three years -- but 57% fear their company isn't adapting fast enough.
they still get an big payout when let go (Score:5, Informative)
they still get an big payout when let go
Re: they still get an big payout when let go (Score:5, Insightful)
Exactly! They don't worry at all. They all have golden parachutes.
And, a lot of them should get the axe. It's their job to have anticipated these shortfalls and to have planned accordingly.
Why would anyone care if these millionaires get axed?
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They should have anticipated a 2 year pandemic?
When companies hold on to money, we complain about how they are hoarding it. When they don't, we complain that they were shortsighted.
Re: they still get an big payout when let go (Score:2)
There is all this AI managing supply chains and stuff. They saw the rising demand, but didnâ(TM)t plan for it. Certainly, the messes at ports could have been alleviated, if not acerted.
Re: they still get an big payout when let go (Score:1)
Re: they still get an big payout when let go (Score:3)
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Exactly! They don't worry at all. They all have golden parachutes.
And, a lot of them should get the axe. It's their job to have anticipated these shortfalls and to have planned accordingly.
Why would anyone care if these millionaires get axed?
People have the propensity to consume. Million dollar salaried have spending to match. And when that income dries up, the debt that has accumulated (propensity spending), will wipe out any good-bye cushion.
Re: they still get an big payout when let go (Score:2)
Not all CEOs are that stupid. If they are, millionaires who don't live within their means deserve any sympathy. They are entitled to the same unemployment benefits everyone else receives.
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Most people's lifestyle is like a gas. It expands to take up all of your income.
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Let's all spend a moment of silence in order to contemplate the plight of unscrupulous, dishonest, insincere, manipulative, selfish asshole millionaires.
:D Ha ha ha ha ha ha!!! :D
This is peak schadenfreude for me!
boomer remover (Score:3)
[*] it's amazing the number of industries that are collapsing because consumers don't have any money to, er, consume. You'd think some smart government economist would have predicted that.
Re: boomer remover (Score:3)
Re:they still get an big payout when let go (Score:4, Interesting)
When you are super rich, it is no longer about the money.
The currency with the super rich is prestige. Getting fired as a CEO is basically a black mark on your ability to CEO thing. These guys will be the CEO of multiple companies, and be on the board of their competitors, for the sole reason to show to their peers that they are the top dog.
Getting Canned as a CEO for a CEO, isn't about the money, but being a looser to their peers. If they can jump onto a failing company and turn it around they are the Winner.
In my career, I have worked with CEO's some of them are actually nice people, however they live in a different world with different rules. They considered the fact that I drove a Toyota vs a Mercedes, was me just being eccentric and not me having to pick from a practical car vs a Luxury car, so I could afford different luxuries. Also when they talk about other CEO's if their business failed or had issues they are just called Losers, as it was their biggest insult.
CEOs have contracts (Score:2)
CEOs can be let go at any time. The big difference is they usually have a golden parachute and typical full vestment clause in their options (if it's a publicly-traded company)
They don't have shit to worry about and they could give a shit about those who work for them.
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Don’t worry, poor little CEO (Score:5, Insightful)
Oh, heavens! (Score:5, Insightful)
This really feels like a first world problem. Seriously? I'm certain Gold Parachutes will deploy to save them on their way down. :-/
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These aren't people worrying how to (Score:2)
pay their rent or where their next meal is coming from. Empathy low.
Sign of the times (Score:2)
I kind of wish I had that much love for work (Score:3)
Such that being independently wealthy by age 50 didn't result in just quitting paid employment forever.
A lot of these people aren't billionaires, but they also don't expect billionaire lifestyles, either. $10 million in equities is a pretty comfortable lifestyle off the interest earned alone.
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$10 million in equities is a pretty comfortable lifestyle off the interest earned alone.
What interest? Interest rates are next to nothing these days, and when you factor in hyperinflation, you aren't going to get anything in return from interest. The only way to stay afloat is to plough that capital into a business and hope the business can stay ahead of the curve...
Not interest, but investment returns. With $10 million, you should be able to find safe investments that will give you a 3-5% return. $500,000/year is a pretty good salary for not working.
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You don't even need interest higher than inflation if you have $10M. That's $100k for 100 years. You could park $10M after-tax in a bank and withdraw the equivalent of $100k a year. That puts you in better than the 83rd percentile for income in the US for more years than people live.
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$100k a year doesn't cut it for much of a lifestyle, unless you think that living miserly is an end unto itself. Plus if inflation is a factor, you're going to find that $100k a year very unappealing. The up side is that depending on how old you are, you could probably bump that to $250-325k per year if you're OK with hitting zero at some old age.
Personally, I'm interested in living a more interesting lifestyle than $100k/year. Tax-free municipal bonds might be a decent safe choice -- while they don't pa
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Obviously people who live in dire economic straits consider any increase in income useful. But this isn't an exercise in what makes economically struggling people think is a better lifestyle, it's what makes a very comfortable lifestyle approaching that shared by very affluent people.
$100k a year is roughly two people with $60-70k average middle class jobs make. A teacher and a fireman. A nurse and truck driver. A lower-level white collar worker and a service worker spouse. People who struggle with the
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>$100k a year doesn't cut it for much of a lifestyle, unless you think that living miserly is an end unto itself.
Dude, you need to have your head examined. Most people don't even earn that much when earning, much less the supposedly lower income requirements needed in retirement.
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boo hoo (Score:2)
My life experience with CEO's is that they can go fuck themselves
The rich cry, too. (Score:2)
Episode 2142. Go on, cry me a river, please.
That's a lot of stress over an illusion (Score:2)
Just pivot their chair for three years and look important, that's what they're there for.
Reality will force the obvious decisions on them, anything non obvious will more likely than not be a stupid decision. No need to stress.
My heart bleeds (Score:2)
Actual picture of the world's smallest violin playing sad musics for these poor CEOs.
(between the arrows):
-> . <-
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Looked at it with my magnifying glass, just a bunch of three-color pixels, not a tiny violin.
Obviously they are pussies (Score:2)
And as such completely unsuited for their jobs. I wonder how they got into these positions in the first place?
Most of them have a golden parachute! (Score:2)
The boards don't let them change. (Score:4, Insightful)
Companies are evaluated on short term profit projections. They are changes in the market, that means these established companies will need a few quarters of loss, to retool and change as well new marketing to show them changing. The board don't like this, so they will pressure the CEO to not change their models, even if their model is doomed to failure.
street crime (Score:1)
Street criminals also worry about where their next payday is coming from.
So does Wall Street and those adorable CEO's.
Everyone is always worried about money. Even the people who have all of it.
What a strange motivator. Always chasing something that will always elude you...unless you are the Boss' son.
Re: Run the d*mn company! (Score:2)
We can't all be Jeff Bezos (Score:2)
I love how many of these comments assume that CEOs are super-wealthy. The average base salary for a CEO is $500k/year, but the standard deviation on that is huge. For a small-cap or private company $200-300K isn't uncommon. That's not much more than what a good software engineer can pull, and the social expectations are much higher for a CEO.
You're right, but do you think a guy getting fired is getting bonus payouts or i
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Bahahahaha!
Try telling that to small-cap or private company _employees_! There'll be mutiny!!
Fired?! Who ever said a CEO would be fired?? It's certainly not mentioned in the article.
Haven't you read about it being just _better_ to _pay_ a CEO to leave?? What if they sue? It's much less risky to pay them a LARGE thank-you-for-your-leadership than risk getting sued and having to show that the gains they _may_ h
Anybody care about those bastards? (Score:2)
The Emperorâ(TM)s clothes (Score:2)
Translation (Score:2)
The CEO didn't structure the company with sufficient flexibility and forward-thinking so that adaption could be a gradual process. Now, that adaption must happen quickly, they're still not providing the leadership the company needs.
They're right to think they might be dismissed from their jobs.
If it's any consolation... (Score:2)
Wendy's is hiring.