One big issue in bigger corporations is how the C-suite execs are inherently not being held responsible for any damages caused by their decisions, as due to the raw size of the company, these happen too late, and they can take a golden parachute and go to the next company to focus on shortest-term gains, raise stock prices, then get bonuses based on that.
But, a few things can be done to improve that, and requiring companies to have someone legally be responsible for the shit happening under them would be a huge step. Personal accountability. Either be responsible as the CEO, or have a legal document that delineates which issues fall under whose manager’s umbrella.
I’d go a step further and make C-suites / management with profit sharing or stock-based bonuses also automatically lose money for losses in said performances, even after they leave the company, based on the percentage of money they were responsible for (You worked there 12y ago to 8y ago, you were the CEO so 100% responsibility, company now lost 6 mil, you have to pay back bonuses based on 2 millions “performance”).
This to me is a big one.
One big issue in bigger corporations is how the C-suite execs are inherently not being held responsible for any damages caused by their decisions, as due to the raw size of the company, these happen too late, and they can take a golden parachute and go to the next company to focus on shortest-term gains, raise stock prices, then get bonuses based on that.
But, a few things can be done to improve that, and requiring companies to have someone legally be responsible for the shit happening under them would be a huge step. Personal accountability. Either be responsible as the CEO, or have a legal document that delineates which issues fall under whose manager’s umbrella.
I’d go a step further and make C-suites / management with profit sharing or stock-based bonuses also automatically lose money for losses in said performances, even after they leave the company, based on the percentage of money they were responsible for (You worked there 12y ago to 8y ago, you were the CEO so 100% responsibility, company now lost 6 mil, you have to pay back bonuses based on 2 millions “performance”).