Choosing the right people for the job summit

Here’s a question. Many of the attendees at John Key’s job summit have been named and they certainly have some experience at hiring and firing.  There are many CEOs and board directors of large corporations among them.

But how many of them can put their hand up and say their company now employs more full time equivalent New Zealand workers than it did when they took up their post? (I note for instance the bosses of Fairfax, Fisher and Paykel and Telecom – all companies that have recently been in the news for shedding Kiwi workers rather than hiring them.)

This is after all, I hope, going to be a summit about creating jobs not rationalising them.

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2 thoughts on “Choosing the right people for the job summit

  1. I suspect that you are being unnecessarily optimistic, Steve.

    They are trying to save businesses: CEO’s jobs, not cleaners’ and waitresses’ jobs.

    They’ll be looking for any way that keeps the business turning over, including redundancies that don’t cost the company what equity it has left.

    This is a re-run of ’87-’88, just with Key in charge instead of Muldoon, and Key seems to think that any activity that saves boardroom jobs is good activity, and cannot possibly be seen in a bad light …

    Soo ’90’s London stockbroker, where anything went so long as the bottom line improved – hence we have the toxic loans, the over-leveraged property investment market, the businesses that have routinely run with huge loans of OPM (Other People’s Money), in order to be able to run unsustainably, and in the expectation that they will recoup the money from the last investors to buy in.
    [cf: the Madoff scam in NY, which was being reported in Europe back in December, and has only just made the business pages here, on Monday in the DomPost.]

  2. Point well made. There’s a similar type summit here in NSW later this month. I’ll not comment on it as it would be inappropriate for me to do so. Instead, I’ll simply agree with you that guests should attend the NZ summit with the intention of identifying ways to retain and grow sustainable, productive employment and a track record of that would be helpful.

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