In the 1950’s and 1960’s, companies were run by executives from manufacturing and sales. To rise in the organization they had to lead people and value people. Employees were generally loyal to companies and companies were loyal to their people.
In the 1970’s companies shifted from appointing operating executives to senior roles to appointing financial managers and lawyers. This generation of executives viewed employees as an expense, not an asset. Hence three decades of downsizing, offshoring and restructuring have virtually eliminated employee loyalty toward company. It has also resulted in poor management and leadership skills within organizations.
Perhaps the mellennial generation will force organizations to develop better leaders and begin viewing employees as assets to be nurtured instead of wage slaves to be discarded.
This may be true, but the cost of doing business in the US, especially manufacturing, has left executives with few options.