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Activity:
1 comments
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last activity : 07 06 2010 20:18:04 +0000
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Leading is risky, dangerous work. Why? Because when leadership counts, when you’re leading through difficult change, you challenge what people hold dear—their daily habits, their loyalties, and their ways of thinking—with perhaps nothing more to offer than a vision.
Anyone who has stepped out on the line— leading an organization through perilous territory and addressing difficult issues—knows that leading presents both personal and professional risks. When you take unpopular initiatives, put provocative new ideas on the table, or question the gap between the values and behavior of your colleagues, you risk ire and make yourself vulnerable. Exercising leadership can be dangerous.
Besides exercising the dangers of leadership, CEO's form the backbone of companies long run survival. It is the responsibility of CEO to allocate funds, define strategies, describe salaries. In the court of public opinion, CEOs and their lieutenants are believed to be paid way too much. Another force, too, has stepped in to influence pay: the growth and increasing power of “activist investors.” Directors face a thorny dilemma:
They need to find ways to effectively scale back compensation without curtailing a company’s ability to attract and retain top talent. This “live from the floor” group discussion will ask you and your peers to weigh in on a topic that just keeps getting hotter.But the question which comes into everybody's mind is that, If CEO is responsible for the assessment their organization, how can the performance and capabilities of CEO be evaluated. How to perform the CEO Performance test?
It is really an interesting question and I know that everyone of you will be excited to know about the CEO Performance Assessment, and I will provide you with complete detailed assessment procedure.
The assessment involves a process called as Governance of Executive Compensation, which describes the following guidelines;CEO pay supports business objectives, Board & CEO define business model, strategy & goals, HR Committee uses internal and external advisors, All information regarding this process is disclosed in plain English,HR Committee designs com
And the necessary key typical performance areas include:
Strategy formulation/updating
• Strategy implementation
• Performance (financial, operations, development)
• Controls & IT
• Leadership
• People – succession & talent building
• External relations
• Board relations
After assessing CEO performance in such typical areas, now I will provide you with guidelines of performance and salary assessment:
Tough economic market (shortage of top talent)
• What attracts, Salary, What retains
• Competitive/fair salary, Pay (BIG) for performance
• Wealth creation (if successful), Recognition
• Need for reasonable creativity, Discretion of the Board of Directors
- Organization size, Complexity, Diversity (product, geography, etc)
- Organization size – the numbers, Market cap, Annual revenues
- Assets under administration, High growth/development (early in life cycle)
- Hire “ahead” of current size, Recognize maintenance & development
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