In 2024, Ford CEO Jim Farley kicked off the year by declaring that Ford was no longer in the business of making “boring products.”
It was a pledge Farley repeated several times throughout the year as the automaker continued to jockey for position in a competitive market space.
Ford, while known for exciting models like the Mustang pony car and top-selling F-150, also serves the market with more bread-and-butter products that carry a lot of its weight. And while boring may be in the eye of the beholder, it stands to reason that Ford means no-nonsense isn’t necessarily the goal; rather, the automaker hopes to hold rank in the pool of companies who are considered “cool.”
It’s easy to see the appeal of that objective.
For one, exciting products sell – at least initially.
Second, the brand glitter that comes along with being cutting-edge has long been considered a recruitment strategy for businesses – that strength tends to influence the considerations of coveted top talent.
Last year, Time magazine unveiled a list of the global companies that were considered the most desirable to work for, and although Ford made the top 20, it ranked behind two other auto companies: BMW (#5) and GM (#14). Other companies that earned top ranks included Apple, Microsoft and Amazon – long considered to be on the leading edge of their industries.
Catering to the goal of being an exciting brand is an interesting exercise on its own. If only that were the end of the story. We’re only a few months into 2025, and already, the tides may be shifting within a workforce that feels like the walls are closing in.
Take the latest research as evidence: Gallup recently reported that the number of workers looking to switch jobs has hit a 10-year high and that overall satisfaction with their employers has returned to a record low.
Meanwhile, data points to a labor market that, in the last few months at least, has been solid but sluggish as signs point to slower growth.
I think it’s also fair to say that the ongoing cuts to the federal workforce likely don’t leave anyone feeling incredibly secure – even if they work in the private sector. And as NPR pointed out recently, “the job cuts in the federal government have made headlines. But private-sector businesses have announced even bigger layoffs.”
Outplacement firm Challenger, Gray & Christmas blamed those layoffs on “extra uncertainty” as tariffs and related volatility are causing some larger firms to dial back their growth forecasts.
Based on these variables, I think it’s reasonable to assume that maybe top talent is done being dazzled by the excitement of cutting edge-technology or an eponymous brand. And if the ground beneath the workforce continues to shift, it’s possible that your greatest strength might become stability.
The good news is that “boring” products sell, too. If you look at the top 100 companies by market cap in 2024, the list includes everything from oil & gas producers to construction, electronic and medical component suppliers – the kinds of companies that don’t generate a lot of buzz but are, meanwhile, keeping the lights on.
Excitement, be damned.
Perhaps the goal for 2025, then, is to worry less about being exciting and more about being secure.
