Talk to media executives about the major challenge brought about by the digital economy and some will talk about securing lines of revenue with new tech products while others will fret over replacing print revenues with online display.
How many, do you think, will worry about how their firm adapts internal practises to suit the next generation of employees and, in turn, to help it secure the best talent?
Well, if the findings of recent reports by EY, Deloitte, and PWC are accurate, then perhaps more should.
HFootball continues to blaze a trail in the world of unbelievable employment practices.
It’s a world where those seen as failures by many fans continue to get plum jobs, where a manager who has never won any significant silverware can become England boss, and where players are bought and sold with valuations that absolutely defy logic.
Here’s an example: today, Manchester United announced that Paul Pogba would be joining them. They are spending £89m on a player who left them for £800,000 only four years ago. In any other industry, this would be insane; but Man U are not alone. My club, Chelsea, seems keen to pay £60m for Lukaku, a player they sold for £28m only two years ago. And they have history here: in 1997 they bought Graeme LeSaux for £5m, having sold him for £700,000 a few years earlier. In 2015, Chelsea paid £23m for Matic, a player they had swapped four years earlier for a valuation of £3m.
The whole thing is indicative of a Premiership micro-economy which has no relationship with the wider travails of the last eight years. Average wages in the UK have increased from around £15,000 to £25,000 (a 67% increase) since 2000, with inflation pretty much in line. The average salary of first team players in the Premier League has gone from £410,000 in 2,000 to around £2m per year (with bonuses) in 2014/15– an increase of over 400%.
So Verizon has been at it again: bagging a former digital behemoth for a fraction of its peak market value in the hope that some of the old magic remains.
To put that in perspective, Microsoft offered $45bn for the business in 2008, but was turned down by the Yahoo’s then management on the basis that the business was worth much more. Way to go, as they say in Silicon Valley.