While the Labour Day is celebrated in a big way, Bosses' Day, which falls on 16 October, generally doesn't create even a whimper. In fact, the average Joe might even quiz the need to have such a day at all. After all, as it is bosses get fat pays, big offices and even social respect. On top of this, we need to appreciate them as well? It's a beguiling question that perhaps should be treated on a case-to-case basis.

But it needs to be stressed that not all bosses are taskmasters without a heart, as many of us would like to believe. In fact, over the years, many bosses with reputations of being tough have shown notable commitment towards the welfare of their employees. These individuals have understood the importance of striking a harmonious balance between work and welfare.

A good example is William H. Gates – co- founder and chief software architect of Microsoft Corp. Yes, Bill "Microsoft" Gates is a hard taskmaster and a manipulative corporate raider. However, Gates is also a generous man, for under his leadership Microsoft offered generous stock option packages to its employees.

In fact, it is said that Gates has helped create more millionaires than anyone else in the history of the corporate world. 10,000 is the number often bandied around, although no one really knows what the real figure is. If this is not creating value for employees, I don't know what is.

Another individual who budding bosses can look up to is Konosuke Matsushita, who is the founder and ex-chairman of Matsushita Electric Industrial Co. Ltd. He was humbleness personified, unlike the many high-nosed bosses who strut along the corridors of corporate offices today. Matsushita genuinely cared for the well being of his employees.

For example, it is said that he usually tried to take time to inspect his employees' workplace environment, which sometimes included checking their toilets, when he made his rounds around the plants. Time and time again he preached the importance of treating employees with dignity and respect and even made strong efforts to translate such sentiments into company policies.

And finally what about Henry Ford, founder and ex-chairman of Ford Motor Company? Not many bosses would pay their employees wages that exceed the market rate. But that was what Ford did, and remarkably, he did it willingly. This is because, Ford had the intelligence to note that wage should at all times commensurate productivity. It was a revolutionary step away from the sweat shop mentality that was then dominating the management philosophy of the corporate world.

So, to all the great bosses out there, have a great Bosses' Day!