What Happened is a question put to the former telecom giant Nortel. Nortel went from being the ninth-largest company in 2000 to filing for bankruptcy in 2009. The question was more like – What The Hell Happened? This well-respected telecom giant agreed to participate in a study conducted by the University of Ottawa. As a matter of fact, they were the case study.
- Also Read: Federal Perks That Could Make or Break Your Retirement—Don’t Overlook These Gems
- Also Read: Top Retirement Tips for Federal Workers—The Simple Moves That Could Make All the Difference Later On
- Also Read: Veteran Federal Workers, Here’s How You Can Score a Better Retirement by Counting Your Military Service
The researchers further found that arrogance had also led to lax financial discipline among the executives escalating to a kind of excessive pride that put customers on the back burner. The executives were only interested in themselves and not what customers wanted. The very component, good customer care, that had elevated Nortel to the top of the telecom game, was lost in the rise to the top and therefore sent the telecom giant plummeting into an abyss.
All organizations must understand the needs of their customers if they want continued success. It might serve the Federal Government well to begin looking at the behavior of top executives and their impact of recruitment and retention. I know the top executives at Nortel were amazed to hear that it was not losing their competitive edge and it was not that they no longer understood the technical market and advancements in technology. It was and is pure and simple that they got too big for their breeches.
The Federal Government would be wise to invest in an Innovation Summit targeting recent college and university graduates, young people under age 50 not employed by the Federal Service to explore why this population is running away from being a part of the public sector. I can assure you that it is not salary. The unemployment rate both nationally and internationally is highest among young adults under the age of 50. Foreign graduates are leaving their home countries looking for jobs in the United States. For many, once in the United States, they simply join the ranks of their peers looking for jobs that are not there. If the Federal Government has a number of vacancies, there are applicants qualified to fill them. But the mystery remains – What happened that young people don’t want to be employed by the Federal Government.
P. S. Always Remember to Share What You Know.
Recommended Articles
Understanding The Thrift Savings Plan, By Todd Carmack
Social Security for FERS Employees by Todd Carmack
A Little-Know Opportunity Can Increase Your Retirement Income – By Mark Sprague