SMARTicles

  • Effective Executive Compensation Plans

    An executive compensation plan is a crucial element in recruiting and maintaining a happy, productive workforce.  This area has been affected by Enron, WorldCom, the SEC and the accounting standards board. On one hand, Boards want a plan that effectively attracts, retains and motivates the top management and, on the other hand, they must exercise due diligence in assuring that pay and performance are properly tied to each other. The following are suggestions for an effective executive compensation plan: The plan should be tied to measures of both profitability and growth.  A growing but unprofitable company and a profitable but...
  • Thankful for the Mission

    Hershey’s claims to be the sweetest place on earth and their mission statement is to be a leader in the hospitality and entertainment industries by delivering excellence to their guests and employees, while enhancing their relationships with the Hershey entities and the community and sustaining financial integrity.  Microsoft's well-known mission statement is to enable people and businesses throughout the world to realize their full potential. The Preamble to the Constitution of the United States, known as the country’s mission statement, instills a sense of purpose, wonder and peace: We the People of the United States, in Order to form a...
  • A Substance Abuse Free Work Environment

    Did you know that seventy percent of all illegal drug users are employed either full or part time.  In fact, one in twelve full-time employees reports current use of illicit drugs and one in every ten people in this country have an alcohol problem.  What does this mean for you? The problems of substance abuse hurt the workplace and cost money.  Substance abusing workers are more likely to miss workdays, to injure themselves or others as compared to drug-free workers.  The direct costs include absenteeism, tardiness, overtime pay, sick leave, insurance claims and Workers’ Compensation.  The hidden costs include diverted supervisory...
  • Is Your Corporate Culture Real or Fiction?

    It is critical that you learn the facts about your corporate culture - who you really are as well as striving for who you want to be.  Understanding and assessing your organization's culture can mean the difference between success and failure in today's fast changing business environment. Unfortunately, senior management, particularly the CEO, often view the organization's culture more on hope than a view grounded in objective fact. Is your corporate culture reality or is it a fiction? If you were to quickly describe your company in about 10 words you would get an indication of the organization’s culture.  This...
  • Valuing the Employee Mentality

    Do you find that no matter how closely you work with some of your employees and no matter how well you compensate them they still act like employees rather than owners?  Are you frustrated because you assume that everyone should care as much about the company as you do? Some employees work very hard from 9 a.m. to 5 p.m. and then walk out the door and leave their work behind to begin living their other life; their real life.  They don’t think about work until the next morning when they come back and do their best for the company...
  • Create a Culture of Involvement and Ownership Mentality

    Some employees will act as if the company is their own even if they have no ownership interest.  If they have work on their desk at the end of the day they routinely stay late and finish it without being asked.  They go the extra mile because they want to; something inside is driving them.  You can develop a corporate culture to motivate employees to act and think like owners even if they have no ownership interest.  Companies with a culture of employee involvement and ownership mentality outperform the competition because the employees contribute ideas and information and move the...
  • Leadership and Learning

    The learning process is best facilitated by being able to perceive diverse viewpoints and the flexibility to change viewpoints before making a conclusion. When a conclusion is based upon emotions it can be prejudicial and can undermine the learning process.  The limiting beliefs held by each member of a team impede the learning process.  For example, the belief that a process will be successful because it has been successful in the past is limiting because the external environmental changes over time.  Another example is when individuals feel they have earned their success they may resort to emotional conclusions and not...
  • Leadership Communication

    An important leadership quality is effective communication.  Today’s leaders compete with shrinking attention spans and impatient employees.  Good communication is not about what you say; it is about what the listener hears.  Effective communication can inspire, persuade and lead the people important to your success. The following are some guidelines for good communication: 1.  Establish a social connection.  Communication involves more than the content of the statements you make. If you focus primarily on your information you may be viewed as arrogant and uncaring. Leaders are perceived by others to be competent when they establish a social connection when communicating.  Build...

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