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October 1, 2023

Accounting News Roundup: Deloitte Demotivation; Fearing a Niche; MLK Day | 01.18.16

Ed. note: We're observing Martin Luther King. Jr. Day so posting will be limited. If you see a story you want to discuss, feel free to post it in Open Items.

Deloitte chief’s new year memo is a classic in demotivation [FT]
We've noted before that Punit Renjen sometimes says ridiculous things. And then keeps saying them. This time, he's managed to pen one of those classic empty CEO emails that embodies all kinds of horrible cliches that we're all accustomed to reading. For this particular edition, the only difference is it ended up in the hands of Lucy Kellaway at the Financial Times and she wrote a relentless takedown which is thoroughly enjoyable:

Last Thursday, Punit Renjen, chief executive of Deloitte Global, sent new year greetings to staff with the unpromising title: “Let’s swap resolutions: Living our purpose #12.” After obtaining a copy, I read it and at first I laughed. But then I read it again — and again. Mr Renjen has composed something so ugly, so empty and so downright stupid, it is hard to go on laughing.

Deloitte employs more than 220,000 people. It advises big companies, which pay vast amounts of money for its services. That its chief should talk such nonsense is a bit of a worry. Many of the people who work there are bright, yet anyone in possession of even a normal IQ could not fail to read the message and wonder what on earth they were doing working there.

Many, many emails from a Big 4 firm CEO cause many, many people to wonder what they're doing with their lives, however, Kellaway finds this one especially soul-crushing:

Mr Renjen doesn’t let on exactly what he is resolving to do. What is a “global talent experience”? Who is supposed to be having it? Is it the “talent” itself? Are we all supposed to be having global talent experiences as we go about our daily jobs? I sincerely hope not.

After stating his resolution, the Deloitte boss leads his staff into a forest of guff so thick and dark that they are unlikely ever to get out again.

Go read the whole thing, I think you'll enjoy it.

Transfer Out of Salt? [Open Items]
It's understandable why people just starting out get worried about pigeon-holed into one area or another. In large firms especially, they take the warm bodies where they can get them and sometimes it can be difficult to wiggle your way out of a group once you're immersed in it. However, it's worth considering this — having a wide variety of experience across groups, industries, services, isn't ideal either. To paraphrase an old saying: if you're a jack of all trades, you're a master of none. Longer-term, a niche like SALT will make you a far more valuable knowledge worker than someone who's bounced around to a number of different areas.

MLK Day Honored as Paid Holiday By 37 Percent of Employers [Bloomberg BNA]
If you're concerned that today is a holiday for most people, you can rest easy:

Molly Huie, manager of surveys and research reports for Bloomberg BNA's legal and business publishing group, said MLK Day policies are lagging in some sectors. "Less than 40 percent of employers give MLK Day as a paid holiday this year, overall lagging way behind the nonbusiness sector, which includes government and education," she said. "This rings true as MLK is a federal holiday and most government organizations and schools are committed to closing their doors in recognition of Dr. King's life and achievements; however, manufacturing and businesses are slower to adopt MLK day as a paid holiday."

On the other hand, if have today off, you can feel extra good.

In other news:

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