You work hard. You do good work. You loyally stick with your employer through good times and bad. Do you have a right to a paycheck that rises over time?
Analysts from one of America’s top management consulting firms, Booz & Co., have an answer that the Harvard Business School last week sent reverberating through Corporate America’s upper echelons. That blunt answer: No.
The Booz analysts offer an example of the “significantly overpaid” worker they have in mind. They call him Joe the machinist, “a stellar employee who knows the ins and outs of the organization, the result of his many years on the job.”
A “multifaceted and tailored” retooling, the Booz analysts go on to gush, could net U.S. corporations “labor savings of 15 to 20 percent.” Of course, the analysts acknowledge, Joe the machinist “might have to take pay cuts” along the way.
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