HeadHunt - In the news - Jan
Incoherent business strategies bewilder employees
Global - Do you feel as though you can't understand your company's priorities and business strategies? You might not be alone.
According to a recent global conducted by global management consultant
firm Booz & Company, a majority of the 1,813 respondents say their
companies lack coherence and is unable to establish a clear strategy
that differentiates it from the business. In fact, a majority (52%) say
they do not feel as if their company's strategy will lead to success.
This lack in coherence may be a costly affair for organisations' bottom
lines. Research from Booz & Company found companies with greater
levels of “coherence,” where executives claim that strategy,
capabilities, and product offerings are aligned will perform better.
A majority (65%) of executives also said their biggest frustration
factor is having too many conflicting priorities in their role. This is
also why 57% of executives say their biggest challenges are ensuring
that day-to-day decisions are in line with the company strategy.
Higher fixed wages may drive up costs for banks
Singapore - The move towards boost fixed salaries for employees in the
local banking sector is of concern for Standard Chartered Bank Asia.
In an interview with Business Times, the bank's CEO Jaspal Bindra said
that several banks have increased their fixed component of employees'
salaries. While salaries will remained unchanged overall, when it comes
to competing for talent, there would be a certain segment of employees
attracted and motivated by a large fixed component.
Should this trend persist, there is a risk of driving overall fixed costs for the banking sector, he added.
With more than 50 percent of most Standard Chartered Bank's employees'
compensation in the variable, Bindra said this strategy has been very
positive for the organisation, as it gives the company full leverage in
linking compensation to performance.