Our oldest grandchild Stephanie graduated with her Bachelor of Arts degree from the University of Utah on May 6th. Of course, we were there for the ceremony!

Stephanie graduated just a few weeks after her 21st birthday. She’s wizard smart, witty, brilliant, pretty, and just plain delightful … and I’m not just being biased! She took all the Advanced Placement classes in High School that she could and entered the University of Utah as a Sophomore. She worked at a five-star hotel in Salt Lake City through her school years and got some very valuable experience as well as tuition assistance from the hotel. We had lunch in one of the restaurants where she works and it was clear that she’s well liked and respected at the hotel.

I’m not going to name the hotel for a simple reason. They aren’t going to take advantage of the asset that is our granddaughter. Hopefully what I’m writing in this post won’t come to haunt her … but there’s no plan at the hotel to do something with her beyond the job she currently has. Very Dumb.

That’s one of the major flaws in our corporations today. Advancement only comes by quitting your current job and going somewhere else, taking your experience and qualifications with you. It’s all part of the Quarterly Report Syndrome that all public corporations seem to have. They have to report detailed financial information every quarter to the Securities and Exchange Commission. Investors prognosticate the future of the company based on those reports and the stock price goes up or, heaven help the company’s officers, goes down. Since labor is a significant component of the corporation’s costs, they focus heavily on controlling that cost. It is far more profitable in the near term for the company’s officers, who have a significant part of the compensation tied up in the stock price, to cast off experienced, higher-paid employees and replace them with lower cost, less experienced employees. Even though the future of the company walks out the door and benefits some other corporation, that’s not their concern right now.

It hasn’t always been that way. It shouldn’t be that way now. Until it changes, the loyalty of employees to companies and companies to employees extends only until the next paycheck. And a five-star hotel in Salt Lake City seems to be willing to sacrifice a future asset. Very Dumb.

But, congratulations, Stephanie. You’re degree in hospitality management will serve you very well … and you’ll find that employer who understands that. Good luck and God Speed!

TTFN!