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“If and when you end up in an executive position, don’t make one of the fundamental mistakes that I see businesses and boards make all the time: Undervaluing their labour force, and over-compensating their CEOs,” he said.
According to him, the management often treats workers like widgets — which they’re not. And, “boards treat CEOs like irreplaceable geniuses, which they rarely are”. He added that doing right by employees will always work. In the long run, it also gives them a greater stake in the success of capitalism. Needless to say, every word uttered by the business tycoon was lapped up by the fresh graduates.
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Subscribe to The Economic Times Prime and read the ET ePaper online.