Companies Do Not Care About Staff Loyalty Anymore How Money Works

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There was a time in the not-so-distant past when the American workplace operated under an implicit agreement: Employees who worked hard at their jobs and stayed loyal to a company were rewarded with job security, health benefits, and other perks. This bargain is an example of what’s known as the norm of reciprocity — repaying one kindness with another —and reciprocity is a universal component of the moral code that governs human behavior. Yet in today’s work world, reciprocity operates with less force.

Indeed, says Stanford Graduate School of Business professor Jeffrey Pfeffer, “Implicit contracts are violated in the corporate world on a daily basis. Workplaces not only fail to acknowledge past employee loyalty and contributions, but they also renege on what has been implicitly or explicitly promised, such as pensions and retiree health care.”