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Nepotism meaning managers can hire their friends,relatives etc.
there are some regulations for City/Federal employment
but Private sector like Fortune 500 companies don't have.
I think all hires should be done randomly as long person qualifies for job! like a lottery
I'll give you an anecdote of bad nepotism. A company I worked for, on the verge of bankruptcy, sold itself to an ESOP trust. (Employee Stock Ownership Program) Everyone and their brother loves ESOPs, the government so much that it actually doesn't tax the company and Federal Income tax. (Think of it like the stocks you hold in your 401K don't get you any capital gains until you withdraw money)
So, while the employees do own shares, their interests are voted by the top 2 executives. The CEO basically gets to handpick the board, which in turn chooses how much to pay him. In the meantime, the children of the CEO and CFO are now the respective heads of HR, Accounting, IT and Marketing.
The two over Marketing and HR are the worst. I actually started using the HR's space when I started as i hadn't seen anyone there for months and assumed it was empty. The one over Marketing would actually do her sales projection for the month that has just passed by coming to me and asking what sales were for the month. So, she was a little behind, but very accurate.
This is a horrible situation. However, the cure for this is the same. Top talent doesn't want to work for a stooge and leaves. As the children joined the ranks profits have started dropping like a rock.
The situation won't self correct as the CEO and CFO have awarded themselves outlandish payouts. When you reward yourself so much that the company has to borrow money to pay, there's a problem. Eventually the company will be run into the ground, and even if investigators come (and they should) they'll have all of the key bases covered by children.
And all of the normal employees will have their lifetime buildup of stock vaporized.
So, while I don't like the idea of a hire based on a lottery, if you find yourself in a nepotistic little realm, just get out. Don't sell your talent to such a place.
Nepotism is one of the great pillars of America. It is as patriotic and noble as mom's apple pie. It signifies that Private Business will be free from arbitrary government regulations and signals that we are truly a free nation. If you make nepotism illegal, next thing you will see is government telling you what job you will do. It's not you choice to be an accountant, doctor, engineer, chef, or machinist; if government says you are to be a toilet cleaner, that/s what you will be. Is this really how simple american employees see things? If so, I weep for our future.
What a ridiculous, laughable post. I weep for anyone who actually believes any of this nonsense. Nepotism run amok can be a very serious problem for any group or organization, and other non-familial employees can spot these problems from a mile away..
What's worse than nepotism/cronyism today is the attitude that have been adopted by Americans of this "life isn't fair, just deal with it" mentality. Sitting back like a bunch of lazy lemmings while corrupt political and business leaders have flushed this country down the TOILET is what has led us to the mess we are in today
Yes nepotism is one thing that NEEDS to be made illegal and these companies need to be monitored on that shady crap they are doing because what's the alternative? Businesses being completely gone from our shores and only the elite making money while everyone else starves to death
People need to quit being so damn passive and doormats while the scumbags walk all over then because In the end we will all be affected. Intervention is a must in times like these
It's this is passive attitude which will have us all have to relocate to Bangladesh to work in some sweatshop
Yes nepotism is one thing that NEEDS to be made illegal and these companies need to be monitored on that shady crap they are doing because what's the alternative? Businesses being completely gone from our shores and only the elite making money while everyone else starves to death
So nepotism leads to "Businesses being completely gone from our shores and only the elite making money while everyone else starves to death"? Hmmm ... interesting correlation.
Yes its doomed and more corrupt because of nepotism and favoritsm.
Less favortism=less corruption
I see multiple TD Banks in NYC non-majority asian areas where majority of TD Bank employees are ASIAN!
because ASIAN hiring manager FAVORS asians OVER others. = favortism= NOT fair.
RANDOM QUALIFIED PERSON WILL BE FAIR. at least they qualify for the JOB! what wrong with it.
Hiring manager doesn't even have to do a lot of work. call in people who have asian sounding names (Chan,Lau etc)
Last edited by nycnyc11209; 05-28-2016 at 01:19 PM..
Yes its doomed and more corrupt because of nepotism and favoritsm.
Less favortism=less corruption
I see multiple TD Banks in NYC non-majority asian areas where majority of TD Bank employees are ASIAN!
because ASIAN hiring manager FAVORS asians OVER others. = favortism= NOT fair.
RANDOM QUALIFIED PERSON WILL BE FAIR. at least they qualify for the JOB! what wrong with it.
I don't know if what you are saying is true. In any case, have you made an official complaint to the EEOC or are you just working out your issues on the internet?
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