Organisational Behaviour: The meaning of "Sinecures"

The recent reporting of the saga revolving around the continuous resignation of more directors of City Development Limited ("CDL") since the acquisition of a 51% stake in a Chinese real estate developer, Sincere Property Group, lead to a very rare word being utilized in writing these days.

The investment into the loss making Sincere Property Group in FY2020 has cost CDL a total of S$1.9 billion as at Oct 2020 which included S$895Mil for its 51% stake , S$303Mil for subscription of bonds and another S$133Mil in working capital loan. CDL will need to take into the account the loss given its 51% controlling stake to its consolidated accounts. In October last year, CDL shocked the market when it announced that a long standing director, Mr Kwek Leng Peck had resigned from the board mainly due to disagreements with regard to CDL's investment in Sincere Property Group.

It was also reported that Mr Kwek Leng Peck's resignation may have pressured the other non-executive directors of CDL who had expressed misgivings about the Chinese property group to make an exit lest they be accused of treating their board positions as "sinecures".

What is "Sinecure"?

Sinecure basically means holding on to one's position in an organisation but doing almost nothing other than holding on to the associated status or financial benefits. In every organisation, you will be able to identify a small group of people whose jobscope fits the sinecure definition. I reckon this is more common than one thought. 

In your own work place, are there also people who are merely pretending to work but are actually holding on to their job as sinecure? Chances are also such that you cannot do anything about such folks as they tend to be in a position of substantial power or influence in the organization......really nothing much one can do except maybe gossiping and complaining during break time with your fellow colleagues. Unfortunately life can often appear unfair, so achieve financial independence fast and get out of the rat race as soon as you can.  :)