Cronyism(illustrator – Jakub Regulski)
Cronyism, or cumotism, is a form of favoritism involving the mutual backing of individuals usually belonging to a particular group for financial benefits. In other words, cronyism gives preference to a colleague, friend, business partner at the expense of another, more qualified person. Cronyism occurs in many companies where acquaintanceships, personal favors, rather than possessed professional qualifications or job performance determine the salaries, promotions and bonuses of their employees. Cronyism is a broader concept than nepotism.
Read also >> Who is Jakub Regulski?
Although the two phenomena describe similar activities, nepotism refers to favoritism toward family members, while cronyism focuses on various types of relationships and broader connections such as friendship, long-term acquaintance or camaraderie. Cronyism can have a very negative impact on both company performance and employee morale and thus an organization's ability to attract talent from outside its closest circle. This form of unfair support of acquaintances, friends and family at work, results in biased evaluation of employees and favoritism towards only selected team members which undermines the sense of fairness and equality among employees. In extreme cases, it can even result in legal action against the organization.
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