Could employee term limits become a national trend?
New N.J. casino making workers reapply every 4-6 years
- Duration 8:34
- Date Feb 4, 2012
New N.J. casino making workers reapply every 4-6 years
Also in this playlist...
This transcript is automatically generated
Well forget pushing term limits on congress a new companies pushing them on -- -- The soon to be open revel casino in New Jersey is making employees re apply for their job every 46 years.
The company says it's gonna keep them hungry and more productive by doing this but.
Now there -- fears that this could become a trend that nationwide is this fair to workers.
Hi everybody I'm David -- welcome to Forbes on FOX let's go -- focus where is Steve Forbes a man Elizabeth MacDonald.
John -- Victoria -- rich car guard and Rick -- -- got new blood here John Candy good to have you on the show what do you think of this idea.
Well figure were all term limited and a market economy but I actually like the idea the failures the greatest teacher I think what a lot of individuals fears success and that will make them satisfied.
Such that they desire to achieve less anything that keeps workers focused on constantly pleasing their bosses I think is is undeniably good thing.
All right well rich Carl -- what about this four years shorter contract with a workers.
I'm a huge fan of John's but I think this is just a silly idea because it -- -- and allows for no flexibility for instance would you make.
Tom Brady Eli Manning are re apply after four to six years.
You know in some jobs like -- you want pretty quick feedback six to twelve months.
You make a decision and other jobs like are indeed you know -- fruits may pay out in ten or fifteen years so it takes away flexibility.
And Greg Conger and flexibility -- -- in Silicon Valley flexibility is a key to their success right you need to be flexible.
Yet but yes surprisingly I think it might be an interest the experiment with some conditions first of all.
It's not really term limits it's more the nature of an employment contract that executives have.
In term limits you don't get to re apply what does concern me a little bit about this idea.
You could put a worker in danger of losing their health care benefits that's something that has to be addressed.
Nobody wants to find out overnight that they no longer have health care benefits for their family that is a concern.
It's an -- the experiment particularly in that industry where it's important that employees.
And and casino -- do well together I think it's worth -- try.
Well Victoria what does worry me is what worries -- I think is that is that companies get locked -- to somebody may be the first -- somebody's good -- they trail often become lousy campfire.
Yeah this is like -- management gimmick that would easily backfire where.
You're right you could have a worker -- great for the first year and then for whatever reason really loses their incentive to -- up.
And then what -- dangled this for a six year carrot out there.
And you don't have the management flexibility and say hey we we need to rethink your your employment here.
-- I'm -- -- from a management point of -- this would be attractive.
I don't think for workers it just is that the four to six years in a long time I think shouldn't always be intended to do a good job so.
And conditioning more trust and flexibility in any workplace regardless of the industry -- -- what -- -- think I don't think.
Stops that casino -- hotel from firing anybody after one year.
Or has them locked in after one year four years or for that at six your time.
I just don't think that's the way this is structured and you know it's interesting the backlash is coming in the unionize hotel and casino industry.
Which should intensive treatments are like hot molten evil.
And they feel like they're guaranteed jobs for life when they're not and so this I think John's right -- put the focus on service which is the real products.
That the casino industries signed by the way this is a new casino these are new workers it doesn't mean that older workers -- there.
Would be affected by this -- -- way to get people productive.
Always save the employer for last and Steve Forbes is anything but hot molten evil he is is -- -- that -- -- I'm.
What do you think of this idea Steve hey if -- have a good company have annual reviews anyway and that this is not the public school system -- have tenure of college.
So you're out there will and that's why some states like Indiana gone -- to works you have that kind of flexibility.
-- have the flexibility already.
Question is how good is management of exercising that flexibility.
And by the way the government one part of the government but does it right is the military on the officers after several years you don't get a promotion.
You're out yeah that's what happens while John -- what what about the flexibility argument I mean you understand how.
Capitalism needs to be flexible and ordered it to get better and improve -- and grow it doesn't this limit flexibility.
No I think it does the opposite this is the kind of change that we should embrace him and we have also look at it from the employee's point of view.
If if they feel like that they can stay in a job for life it's not necessarily good thing it does it cause them to evolve.
When this -- -- be forced to think about whether they should move on and the change is good for them and it's good for the economy if you move the employee the human capital.
To a higher higher -- work work work they can do better do a better job so anything that that's like this that's flexible we've got a breaks yeah but.
You know rich carve -- one thing I think you're right I don't wanna be a naysayer here but -- thing I'll civilians what happens if we get government -- -- this.
If this works in one place the government made the step in and saying okay everybody has to do it now.
Yeah it just seems like it's a one size fits all solution I mean I don't I'm I'm perplexed why John sees this is a tool of flexibility you take a real case example.
-- very high performing company right now apple.
They've got a designer named Johnny -- after.
Steve Jobs Johnny I this probably the most critical guy at apple you're gonna tell Johnny -- after four to six years he needs to re apply as the chief.
Now really when you get real good in this economy is guaranteed a job for like people work on contract.
You know all throughout the media for example and you do have to re apply I don't see the difference -- by the way cause you know I got up over my shoulder it so you know what so what this in the world economy this is what doesn't look like -- And so here's still even Nevada is where the hotel industry -- Nevada what -- -- -- who -- And even Nevada.
Is a right to.
Works stay right right yeah I know but Steve the idea of sort of reminds me of these union contracts and everything that that -- I don't necessarily want to get locked into I had.
I've never been a member of -- not because I don't like you just -- I don't like to get locked in the things.
Yeah the only way I'd go along with this is the government -- went to the government itself let them start and have 46 years with the bureaucrats is thrown out that might not be a bad thing and -- make that trade off.
But in terms of the workplace most employers still have that flexibility unions are only about six -- 7%.
And so we have those -- -- -- -- that's all about.
Management term limits for congress here you're hot you're gonna durable somehow -- -- I know a lot Vicki go ahead that they are quite bit rich was when making it which is a great point is what do you have a high performer.
Are you gonna put these are and put him through these point no lose everything royals six years says they want you gonna play at all and -- Wait wait who say -- I'm really going to do that -- may not do that -- revel also they let you go after one year -- got a very you know what is and I term limits for congress go ahead.
React he had just just just -- -- what's first you are Steve -- I think.
Government involvement a bit of a stretch.
But but secondly look you and and your employer are in fact locked into an employment contract so I don't know why that's such a big problem.
The other thing that we don't know when this it goes to the discussion Victoria what's happening with.
Where an employee can be fired you know for a good reason if they do something wrong typically in employment contract you can't be fired.
Even before the term -- up if you really screw up.
Okay what -- -- who are we -- as that this would be a stretched it to think of a nationwide -- But a couple years ago was a stretch to think that the government would get so involved in health care as they are now so -- well I think.
I stretch I really I bet you've had your chance regular ran out.
I think this is I think this is the kind of thing that would give capitalism a bad name because it makes it look like it's treating all people with -- The great football coach Bill Walsh shop bless his soul you know told me that the greatest it.
Thing that he ever brought to the 49ers to a -- its truck they treated people individually and that was a quantum leap from the Vince Lombardi era where everybody was treated the same -- by now -- -- managers will always figure out how to treat people Bob Bob I don't know the term limits for David Asman.
-- -- get look half an hour I I don't football reference on Super Bowl weekend we're all okay with that President Obama.