Olympics Games or the inequality of the compensation and benefits of the gold medalists

After years of hard work and dedication, Olympic gold medalists experience the joy of standing on the top step of the podium with a gold medal around their necks. However, due to "obviously economic reasons," as reported by the French press, these medals have not been made of solid gold since the London Olympics in 1908. In fact, they contain only 1.1% gold and are made up of 98% silver. The International Olympic Committee (IOC) specifies that gold medals must have a minimum of 6 grams of pure gold to cover 500 grams of solid silver. This choice may stem from budgetary constraints, especially considering that the Olympic Games already cost around 8.8 billion euros. The extra 6 grams the gold medalist has compared to the silver one still represents a difference of 360 euros.

Fortunately, to make up for the modest value of the gold-plated medals, some countries offer substantial rewards to their top athletes. Similar to corporate performance bonuses, athletes receive cash payments that may vary. Forbes for instance received $768,000 from Hong Kong, €80,000 from France, and $37,500 from the USA for each gold medal won. Thus, equal success does not lead to equal bonuses. France, who gave the highest bonus, considers exempting the athletes from taxes. "No taxes for heroes!", said the minister, fan of the Games. Unfortunately, this could impact funding for important services like schools, barracks, and hospitals.

Ultimately, the compensation and benefits (C&B) for medalists, similar to employee remuneration, remains a budgetary decision. This likely led to intense discussions regarding the value of the gold medal. Some champions believed that a medal made entirely of gold would better embody equality (!). “Equal worldwide success, equal worldwide reward!”, they believed. They were told “No way”. The Olympic Games are extremely costly, and budget constraints had to be applied. No whining on the podium will change anything. The extra 6 grams of gold you’re asking for is worth four times more than the gold plating of any fancy jewelry. The disappointed athletes were reminded that the important thing is to participate. Some post-modern supporters may even have suggested a medal in BitCoins. In the end it was decided that the golden medal would actually be made of silver.

In the city of love, a new idea has emerged: instead of simply adding more grams of gold, the French are going to incorporate pieces of our beloved Eiffel Tower. This useless yet essential tower will play a significant role in the history of the Olympic medals. Chaumet, the esteemed jeweler on Place Vendôme, crafted what might be the most beautiful medal in Olympic history, incorporating this unconventional but deeply meaningful material. Chaumet likely made it clear to the Olympic Committee that adding sentimentality to this piece of gold-plated silver jewelry would not be free.

It is important to recognize the significant role that sentimental value plays in a company's worth. When we invest our time and energy into a company, we often develop a deep attachment to it. Because of this emotional attachment, we invest our time and energy into a company.  We work diligently for the love of our job, out of admiration for our boss, and in solidarity with our colleagues, often without expecting financial compensation in return. It also explains the feelings of loss we experience when we leave. Sentimentality is a driving force behind the effort we put in, sometimes without keeping track of the hours, including unpaid overtime. It is what motivates us to mentor junior staff members, even when there’s little personal benefit, simply because it feels fulfilling to help others. This value increases when we take the time to express genuine appreciation, gratitude, or apology.

Sentimentality involves a long-term perspective that acknowledges values beyond immediate returns; it embodies a sense of generosity that can be difficult to articulate. Since sentimentality is often associated with vulnerability, it is often hidden. However, many of us understand that without it, companies that have thrived for a century or more would likely not exist today.

In today's company remuneration committees, focus is on how to reward the champions of daily operations. The discussions revolve around what equivalent of the "Eiffel Tower" can be awarded, which podiums to place them on, and what kind of applause to offer.

Thanks to the Paris Olympics, the sentimental value of medals has been reinforced. However, there is a possibility that in L.A., they may decide to create solid gold medals to honor those who have selflessly given so much without counting the cost.

Sentimentalement vôtre.