|
|
"A comprehensive, collaborative elections resource."
|
Let the Wall St. "Talent" Walk
|
|---|
| Parent(s) |
Issue
|
| Contributor | Servo |
| Last Edited | Servo Feb 10, 2009 09:23am |
| Logged |
0
|
| Category | Commentary |
| Media | Magazine - US News and World Report |
| News Date | Wednesday, January 28, 2009 03:00:00 PM UTC0:0 |
| Description | Here’s another Wall Street bromide that needs to be retired: The need to pay lavish bonuses to retain the best talent.
Let’s define our terms here: In sports and the arts, the most talented performers are those with unrivaled raw abilities. They don’t always win or make money, but they set the individual standards that others aim for. And often, they delight.
There’s a lot of talent in business, academia, and the military. These are leaders who motivate others to do their best work, find ways to make strangers productive as a group, and create something valuable out of a bunch of raw material.
On Wall Street, the “talent” doesn’t come up with better ways to serve customers, or solve vexing problems, or create something new that people can use. Those deemed “talent” are the rainmakers: The ones with the most lucrative clients, the biggest book of business, the most profitable deals. This so-called talent is richly rewarded with bonuses, to make sure the fees they generate keep flowing. |
| Share |
|
|
2¢
|
|
| Article | Read Full Article |
|
| Date |
Category |
Headline |
Article |
Contributor |
|
|
