Wow what a week and a fortnight !
The Chief Executive of Aviva, Mr Andrew Moss is forced to quit when angry shareholders vote against any hike in his salary because their returns have been measly. Similarly shareholders at Barclays, Citibank and UBS voted against the rich increases given to the CEOs of these companies in spite of the fact that the share prices of these stocks where steadily going South.
The only sane and sole voice of reason comes from, of all persons, a non HR, a non Compensation & Benefits professional, the newly elected President of France, Francois Hollande who has suggested that he is going to cap the salaries of chiefs of State Owned Companies in France to 20 times of the lowest paid employee in the same company.
Hallelujah !!!
This was one of the key ratios of the HR professional community in the mid seventies, eighties and nineties. Why and how did we ever forget this key ratio ? In our flights of fancy to keep up with the Joneses and be in the exalted company at the "Strategy Table" and be "Valuable Business Partners" we forgot how to knit !!!! And have poked ourselves on our behinds !
This I guess will be the new "learning" and message for our Compensation & Benefits professionals and HR partners as they go around with their new mantras of Talent Management. However one aspect comes to a sharp focus...we should not forget the basic foundations of our functions. They are ( and were ) sound and time cannot replace them with new measures and tools.
Back to the Balanced Scorecards, dears.
The Chief Executive of Aviva, Mr Andrew Moss is forced to quit when angry shareholders vote against any hike in his salary because their returns have been measly. Similarly shareholders at Barclays, Citibank and UBS voted against the rich increases given to the CEOs of these companies in spite of the fact that the share prices of these stocks where steadily going South.
The only sane and sole voice of reason comes from, of all persons, a non HR, a non Compensation & Benefits professional, the newly elected President of France, Francois Hollande who has suggested that he is going to cap the salaries of chiefs of State Owned Companies in France to 20 times of the lowest paid employee in the same company.
Hallelujah !!!
This was one of the key ratios of the HR professional community in the mid seventies, eighties and nineties. Why and how did we ever forget this key ratio ? In our flights of fancy to keep up with the Joneses and be in the exalted company at the "Strategy Table" and be "Valuable Business Partners" we forgot how to knit !!!! And have poked ourselves on our behinds !
This I guess will be the new "learning" and message for our Compensation & Benefits professionals and HR partners as they go around with their new mantras of Talent Management. However one aspect comes to a sharp focus...we should not forget the basic foundations of our functions. They are ( and were ) sound and time cannot replace them with new measures and tools.
Back to the Balanced Scorecards, dears.
