‘Politics’ of failure

Nokia’s once-stellar performance was undermined by misaligned collective fear: top managers were afraid of competition from rival products, while middle managers were afraid of their bosses and even their peers. It was their reluctance to share negative information with top managers—who thus remained overly optimistic about the organization’s capabilities— that generated inaccurate feedback and poorly adapted organizational responses that led to the company’s downfall.*

It is not just Nokia, but many others who have fallen prey to complacency and turned risk-averse. New technologies are growing pervasive by the day and organizations can ill-afford to ignore its implications.

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A measured step

Employee turnover is expensive. Replacing an employee who quits costs, on average, 21% of their annual pay. While it’s tempting to dismiss turnover as a fact of life in today’s fast-moving job market, new research shows otherwise.* Compensation could be a strategic tool for talent retention, especially when the going is tough.

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