Question

1. Why do companies want to hire stars and raid stars from competitors? Does it hurt or help the company? Why?
2. What are risks of hiring external stars? What can be done to eliminate those risks?
3. What are some benefits of hiring external stars?

Answer 1

1. Companies think that stars will increase the loyalty and the sales of the company. A star is the one who is a tank holder in a particular industry for a particular time. The company believes that the star will also increase the efficiency and productivity of the company. For example: If a person is an expert in marketing, the company will attract them to join the company.

2. When a company hires a star, the team's performance degrades because the star takes up the entire credit. Ky will create a feeling of dissatisfaction and disappointment in the minds of the present employees. Moreover, any external employee can act as a bad influence on the company. There is a sharp decline in the team members' functions because of the addition of a star. Another disadvantage is that the stars are not loyal to the company because they will leave the company once they get a better pay structure in any other company. Hence, it hurts more than it helps the company.

3. The risks of hiring external employees include a lack of confidence in the internal employees on management, dissatisfaction, and teamwork. Many employees might think the hiring process as an attack on their abilities and capabilities. It can reduce the morale and satisfaction level of the employees in the business. The initiatives play a significant role in motivating the employees.

4. There are many benefits also of hiring a star. The first benefit is that the star brings experience and expertise. Another advantage is the increased knowledge. The external employees also bring knowledge, skills, and information about the external environment. They can also act as an asset to the company because of their different leadership styles and employee-employer relationship.