You're in Charge Now - L.E.A.D!

By Daryl Brewster - former CEO Krispy Kreme

Who would have thought at this time last year that Lehman Brothers would fail, Bear-Sterns and AIG would be bailed out, credit would all but disappear, the Dow Jones would return to 2003 levels, gas would run up to $4 per gallon before falling to under $2?

Even your own world seems out of control. Your 401-K seems more like a 201-K. You avoid opening pink envelopes. And your dreams of retiring on the beach have been replaced by wondering what part-time jobs you can find when in your 60’s.

But you’ve just been asked to take over a new group or company. So, now what do you do?

“When placed in charge,” my Dad used to say to us, “it is your responsibility to lead.”
And that is just what so many companies and even countries need these days. Leadership.

There may be as many definitions of leadership as there are leaders, but I’ve found that a simple acronym sums it up well. Listen - to help you learn; Engage - with an eye toward energizing; Align - so you can act; Deliver - while developing the capabilities and processes to do it again.

Listen. The first step in leadership is not to start ordering folks around but to listen to them and to hear what they have to say. You are only new in a role once and we may have only one opportunity (let’s hope so) to live through the 21st century version of the Great Depression. But both are great times to listen, learn and lead.
Click Here for More

Shaping the Future of Talent Management

HR's critical role in creating a sustainable people advantage

By Thomas J. Fuller - General Managing Partner - Epsen Fuller | IMD

The following is a transcript of a speech delivered by Tom Fuller, general managing partner of Epsen Fuller/IMD International at Hunt Scanlon’s Human Capital Conference, “Workforce Strategies for Global Employers”, at The Metropolitan Club in NYC.

Throughout history, talented individuals have risen above the known limits of their time. Where would the world be without the great minds of Einstein and Leonardo da Vinci?

At the same time, world shaking accomplishments have demanded individual genius and the teamwork of thousands. The magnificent cathedrals in Europe, the Pyramids of Egypt, the Panama Canal, and the 1st Lunar space walk all emerged through the collective efforts of countless talented people.

People can make a difference if they dare to believe in creating advantage for themselves, their communities, and their future.

The pace of change has accelerated dramatically in recent decades, producing seismic changes in business and society and people are more important than ever to success… and their importance will only grow in the future.

Click Here for More

The failure of the board of directors at General Motors to fire CEO Richard Wagoner gives us a stark view of the realities of big-time corporate boards of directors. Even years after the colossal corporate failures of Enron and MCI and the chicanery of CEO’s Skilling, Lay, and Ebbers along with Kosloski of TYCO, resulting in incessant calls for more board scrutiny and accountability, the sight is not pretty.

In 2007, Mr. Wagoner's compensation rose 64% to almost $16 million in a year when the company lost billions. When Mr. Wagoner took the helm eight years ago the stock was trading at around $60 per share. The stock had fallen to around $11 per share before the current financial crisis. It's now below $5 per share.

Click Here for More

Compensation of U.S. corporate directors rose in most industries in 2008, although pay increases slowed compared to last year. The study is based on compensation data filed in 2008 by 2,319 SEC-registered companies as well as a June 2008 survey of 249 corporate secretaries conducted by The Conference Board.

Companies were categorized into 22 industries and 10 revenue groups. Median total compensation varies from a low of $37,239 in the commercial banking industry to a high of $151,550 in the food and tobacco industry. Board members in the energy industry receive the highest compensation ($383,907 at the 90th percentile)

Total compensation rose in 2008 in 15 of the 22 industries surveyed. "Directors keep making more money, but the growth trend we have documented in the last few years seems to be slowing down in 2008," says Matteo Tonello, Associate Director, Corporate Governance Center at The Conference Board, and one of the authors of the report. For the complete report, click here.