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At the Forum, the room was asked, “what major challenges are you struggling with when introducing new and innovative technologies to drive business growth?” By the end of the day, 45% of the audience voted “IT talent,” 38% had voted “budgetary constraints,” 7% of the vote was for both “effective communication” and “inconsistent corporate direction,” while the remaining 3% voted “lack of executive buy-in” as the reasoning.
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As one of the instrumental figures in establishing FedEx's Talent Management Program and the recipient of the company's most prestigious award for outstanding achievements- the Five Star Award, FedEx's Bob Bennett is the epitome of a man who practices what he preaches.
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Think of why you go in certain stores, why you buy different types of clothes, or maybe even why you ate that cereal this morning. Hate to break it to you, but you were probably influenced by the brand. Sorry, I know you are in control, you are the only one who can make your own decisions, you aren’t swayed by advertising….but, subtly or overtly, brands influence your behavior.
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Calpers Freezes Bonuses
The California Public Employees’ Retirement System is the largest public pension in the country, but bonuses for executives and performance awards are being cut this year.
by Tim Weaver
The California Public Employee’s Retirement System dropped performance bonuses 14% this year from last according to data released by the pension. In 2011 $4.1 million worth of bonuses were paid out for executive performance, this year the number will be in the area of $3.6 million, according to Bloomberg.
With over 1.6 million members throughout California, Calpers is the single biggest public pension in the United States. The pension peaked in total value at $260.6 billion before the recession. In 2008 the fund lost an estimated $12 billion in investment income and the next year another $55 billion.
Brad Pacheco, a spokesman for the Sacramento based pension released a statement that read “The performance awards are based on multiple years of performance and we are a long-term investor, and that’s what we are trying to incentivize… For us to keep highly skilled investment managers… we have to be competitive and these awards are part of that compensation.”
Each year Calpers spends roughly $40 million on benefits and compensation for investment staff, however this year wages have been frozen for the executive staff. Compensation is based on a rolling three year performance average.
Calpers claims that the wage freezes and bonus cuts will save the fund $114 million.
