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Pandemic-hit Qantas weighs new pay structure to keep key executives

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Pandemic-hit Qantas weighs new pay structure to keep key executives

Old 29th Sep 2021, 04:11
  #41 (permalink)  
 
Join Date: Apr 1998
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Originally Posted by SHVC View Post
TBH, you need your executives on the good money, we may all think itís over paid but you need to attract the smartest minds. Imagine if our fed politicians were paid double, would we attract smarter ppl to the roles?!
I worked on a $1b project, the only people we attracted were the shysters. Now, what if money wasn't the primary motivating factor for this echelon, we'd probably find executives that can draw better plans than just stick figures holding big bags of money.
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Old 29th Sep 2021, 06:46
  #42 (permalink)  
 
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Originally Posted by SHVC View Post
TBH, you need your executives on the good money, we may all think itís over paid but you need to attract the smartest minds.
This is '80's style MBA course mumbo jumbo along with "Looking after the shareholders".

That worked so well for ENRON, HIH insurance, OneTel and more recently Boeing and GE.

https://www.linkedin.com/pulse/who-t...e-pogson-faicd

The gross misconduct at CEO and Board level of these companies should have resulted in people going to jail, but very few did or will as long as everyone is making money until the end
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Old 29th Sep 2021, 07:26
  #43 (permalink)  
 
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Just my 2c.

Observation 1

achievers are often quiet, bluffers are the opposite.

Observation 2

corporate Australia will hire the noisiest candidate, especially if they make unrealistic promises to triple the size of the business in 6 weeks, or whatever.

Observation 3

Once hired, theyíll maximise the damage to an organisation to prove they are Ďhaving an impactí and will move onto their next job just before they are found out or asked to deliver on their promise.

Observation 4

Australian recruitment is rooted.
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Old 30th Sep 2021, 00:45
  #44 (permalink)  
 
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Originally Posted by cattletruck View Post
Alan is getting desperate. Besides, most of the Chairmanís Lounge members are getting the boot are not necessarily individuals that are personally worth tens of millions of dollars. Some just represent big corporations. The best of the elite in the eyes of QF are politicians, top tier Australian musicians and actors/actresses and individually wealthy people. I still remember the good old Qantas Club pre-mining boom when most folk still wore decent attire. They soon opened it up to longes full of orange shirt bogans and grubs. The Qantas of 2000, pretty much since Dixon and Joyce took over from Strong James has declined in every imaginable way. Itís not just another cheap LCC.
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Old 30th Sep 2021, 07:28
  #45 (permalink)  
 
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Originally Posted by SHVC View Post
TBH, you need your executives on the good money, we may all think it’s over paid but you need to attract the smartest minds. Imagine if our fed politicians were paid double, would we attract smarter ppl to the roles?!
The evidence suggests that by paying our executives across many different companies, and politicians, tens to hundreds of times the average salary, we haven't attracted the smartest minds, we've just got those who will do and say anything for a few dollars more at the expense of their co-workers and to keep the gravy train rolling on while the smartest minds are motivated by other things. While we are asking questions, why is it that we have to pay highly paid executives even more to do a "good" job, but minimum wage workers have to get paid less or have their conditions reduced to motivate them to do a better job? Does improving wages only work for the already wealthy?

Last edited by De_flieger; 3rd Oct 2021 at 15:45.
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Old 30th Sep 2021, 08:02
  #46 (permalink)  
 
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The evidence suggests that by paying our executives tens to hundreds of times the average salary, we haven't attracted the smartest minds, we've just got those who will do and say anything for a few dollars more at the expense of their co-workers and to keep the gravy train rolling on while the smartest minds are motivated by other things. While we are asking questions, why is it that we have to pay highly paid executives even more to do a "good" job, but minimum wage workers have to get paid less or have their conditions reduced to motivate them to do a better job? Does improving wages only work for the already wealthy?
Exactly the same could be said for bonuses. Why do you need a bonus for just doing your job? And since when is there a shortage of executive talent anyway? How many MBAs are handed out each year? Is there a Uni in Australia that doesn't offer an MBA program??
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Old 1st Oct 2021, 03:24
  #47 (permalink)  
 
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Sorry? When did Management last order aircraft for mainline? November 2005?
World's highest paid airline management indeed...
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Old 1st Oct 2021, 06:57
  #48 (permalink)  
 
Join Date: Jul 2009
Location: Australia
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Originally Posted by minigundiplomat View Post
Just my 2c.

Observation 1

achievers are often quiet, bluffers are the opposite.

Observation 2

corporate Australia will hire the noisiest candidate, especially if they make unrealistic promises to triple the size of the business in 6 weeks, or whatever.

Observation 3

Once hired, theyíll maximise the damage to an organisation to prove they are Ďhaving an impactí and will move onto their next job just before they are found out or asked to deliver on their promise.

Observation 4

Australian recruitment is rooted.
Usually followed by absolute disaster and when interviewed a few months later they say "It was fine while I was there"....... Kind of the reverse of James Strong coming into Qantas on a wave of b-llshit, the float occurs, the Commonwealth making good on its promise to BA when they paid a premium to not buy into a capital starved business, provides a $1.1BN capital injection to QF which allows it to retire nearly all its debt (which wasn't much) and most of TN's (which was substantial), then surprise, surprise the profit increases exponentially the next FY because there's no debt repayments - and guess who takes credit for turning the place around, while neglecting to mention that 'little' cash injection.......
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Old 1st Oct 2021, 07:02
  #49 (permalink)  
 
Join Date: Jul 2009
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Originally Posted by neville_nobody View Post
Exactly the same could be said for bonuses. Why do you need a bonus for just doing your job? And since when is there a shortage of executive talent anyway? How many MBAs are handed out each year? Is there a Uni in Australia that doesn't offer an MBA program??
It's the nature of the world now....... like the use of the word 'hero'.... people running around branding people heroes, who just do their job - it's even crept down to the shop floor now with people being given a 'prize' at the end of each month when their achievement was just to turn up and do what they're paid to do....... years ago in the industry, you got a reward for making a good suggestion or for going above and beyond. Not so now, the current corporate culture in most businesses now is that you only need to come in on time and switch the kettle on and you're a 'hero'....
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Old 1st Oct 2021, 10:39
  #50 (permalink)  
 
Join Date: Oct 2009
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Originally Posted by neville_nobody View Post
Exactly the same could be said for bonuses. Why do you need a bonus for just doing your job? doesn't offer an MBA program??
The thing about the bonuses was a consequence of Bill Clinton trying to cap the ridiculous growth in CEO/MD salaries by taxing them through the roof, so the base pay was set low, but the KPI bonus was huge. There was a very interesting Ted Talk on it, but I canít find it.

Needless to say, itís taught in MBA school, so therefore it must be the only way to attract talent.

I was chatting to one of the soccer dads, and he was really upset about missing out on his bonus because of Covid and then not being able to renovate or something. I mentioned I hadnít worked for 10 months, but i thanked him for my Jobkeeper.
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Old 1st Oct 2021, 11:21
  #51 (permalink)  
 
Join Date: Jul 2009
Location: Australia
Posts: 84
Originally Posted by neville_nobody View Post
Exactly the same could be said for bonuses. Why do you need a bonus for just doing your job? And since when is there a shortage of executive talent anyway? How many MBAs are handed out each year? Is there a Uni in Australia that doesn't offer an MBA program??
Ah, "MBA" which is derisively referred to by many as 'Management By Acronym'....

It's a course offered by most Universities where students are put through an intensive program which teaches them that calling or contacting is 'reaching out', that investigating something is 'deep diving', that looking into detail is 'opening the kimono', that there is no such thing as industries or segments/sectors anymore, they must only be referred to as 'space(s)' (which begs the question, why doesn't NASA refer to its work in the 'space space' if this vacuous use of words is valid) and that any number of persons including and upwards of ONE must universally be referred to as "a cohort".

From what I've seen, after 30-40 years in various aviation businesses and other related fields, that's about all an MBA provides someone, the finely honed ability to speak without saying anything at all and to master the art of bull-hit.
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