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Of all the business problems companies have, I think they become more magnified when the chief executive officers lose sight that their organization is made up of people. In my experience...

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Going Once, Going Twice, SOLD!

Going Once, Going Twice, SOLD!

If your dream job happens to land in your lap, but you are a valuable aspect to your current job, it could be a tricky situation. Do you send the two companies into a bidding war or make a logical decision? Obviously, a logical decision.

Putting companies into a bidding war can be harmful to your career, according to Forbes. An executive writes about an experience when he held a valuable position at a large retail company, but was recruited by a smaller one. But call it a case of cold feet—or cold, hard cash—because the night before his first day as CEO of the smaller company, he turned down the position to stay put.

Apparently, the executive was promised a higher salary and a CEO position within a year at his current job. This is called buying back—when a company offers their current employee a higher salary to keep them from leaving. Nevertheless, the executive left the company in the dust when it plummeted in the stock market and he was fired.

His name and reputation is tarnished forever. He will be forever remembered as the executive who put his company into a buyback situation and did not live up to their offer. Now, had the man evaluated the pros and cons of being a CEO at a smaller company, he could have gained more experience. These skills could have helped him in the future to become the CEO of a larger company with many more demands.

Tell us what your dream job is. Have you ever put two companies into a bidding war?

Posted: 7/1/08
aliciak

Yikes, these things are so foreign to me, as I have never worked in an office/company/corporate environment!

  • By aliciak
  • on 10/6/08 4:39 PM EST