Sooo, the last person on a final salary pension left the firm years ago.
Repeated rounds of redundancies have left people wondering if they’re next out the door.
And you’ve just asked your workers to take a pay cut because “we all need to pull together to survive the recession” (and, ahem, because your now departed chief financial officer decided to refinance the company with a derivative contract that Goldman Sachs told him would make him look great in front of his boss. Jeez, what kind of an idiot agrees to be on the other side of a bet with Goldman Sachs?)
But despite all this, you still think your employees have an intense, emotional attachment to their work. And that the phrase “a passion for excellence” captures exactly how your firm gets things done. (more…)