It was obviously quiet on the news front, because the Australian‘s headline “broke” the news that Deloitte and Medibank Private are instituting a survey to “measure employee wellbeing”. There’s speculation that the survey might be used to measure the bonuses payable to senior executives.
Well, a few thoughts entered my head. Leaving aside the elephant in the room (that is, whether massive executive bonuses ought to exist at all), what’s happening in the world if executive remuneration packages are increasingly linked to non-financial outcomes. But aren’t these matters part of executives’ “day jobs”? In fact, I saw one comment that stated, if executives fail on employee well-being, their base pay should be docked, rather than the other way around! Be that as it may, the perception is that, as financial out-performance becomes harder to achieve, bonuses are being tied to “softer” targets.
But my other main thought was: did this news deserve to be the lead item on page 1 of a national newspaper? What a coup for the media relations people working for the promoters of the survey who achieved such massive publicity for their product!