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Pay Rises for Chief Executives, And Company Direct
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11/14/2005
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The overall compensation of U.S. chief executives rose again in 2004 as generally good profit growth boosted bonuses, but a trend toward shifting away from stock options slowed the aggregate growth rate, according to a study published Tuesday.
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Does money drive performance with construction exe
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11/07/2005
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Construction CEO�s often struggle with motivating their executives to top performance levels. They know that money usually does not provide a long-term motivator that will drive executives to higher levels of long-term performance - especially construction executives whose basic financial needs are usually being met. Construction executives who feel they are not being fairly compensated are likely to lose motivation. Most CEO�s agree that as long as their executives view their pay as being fair, the lure of more money is not likely to drive performance.
Recent retention studies from Hay Consulting Group and Hornberger Management Company�s �Annual Construction Executive Retention Survey� indicate that executives work hardest and achieve more for �meaning in their lives� and for �job challenge� than any other reason. According to these studies, contractors who ignore these primary motivators and choose to motivate by money, are simply �bribing their executives� and undermining their employee�s long-term retention, loyalty and commitment.
Unfortunately the easy path for CEO�s is to blame their executive�s lack of hard work and motivation on today�s uncertain economic, social and political climate. Yet over 73% of executives surveyed in an August 2004 Construction Executive Online poll indicated that today�s construction executives want to feel challenged and fulfilled at work. �Executives want to take pride in what they do, belong to a winning team, and be part of a firm that they truly believe in,� say�s Kevin Carney, Marketing Director for Construction Executive Online.
The August poll also indicated that construction executives believe that a primary problem with their motivation is a lack of �inspiring leadership� from their CEO. �Many CEO�s are not as effective at inspiring or empowering their executives to work harder than they believe they are, according to the executives we spoke with. We head that the more a CEO wants commitment and higher levels of performance from its executives, the more he or she must involve their executives in establishing work goals, defining specific plans for achievement, and providing them with the autonomy and resources to be successful,� says Carney.
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Does money drive performance?
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11/07/2005
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Construction CEO�s often struggle with motivating their executives to top performance levels. They know that money usually does not provide a long-term motivator that will drive executives to higher levels of long-term performance - especially construction executives whose basic financial needs are usually being met. Construction executives who feel they are not being fairly compensated are likely to lose motivation. Most CEO�s agree that as long as their executives view their pay as being fair, the lure of more money is not likely to drive performance.
Recent retention studies from Hay Consulting Group and Hornberger Management Company�s �Annual Construction Executive Retention Survey� indicate that executives work hardest and achieve more for �meaning in their lives� and for �job challenge� than any other reason. According to these studies, contractors who ignore these primary motivators and choose to motivate by money, are simply �bribing their executives� and undermining their employee�s long-term retention, loyalty and commitment.
Unfortunately the easy path for CEO�s is to blame their executive�s lack of hard work and motivation on today�s uncertain economic, social and political climate. Yet over 73% of executives surveyed in an August 2004 Construction Executive Online poll indicated that today�s construction executives want to feel challenged and fulfilled at work. �Executives want to take pride in what they do, belong to a winning team, and be part of a firm that they truly believe in,� say�s Kevin Carney, Marketing Director for Construction Executive Online.
The August poll also indicated that construction executives believe that a primary problem with their motivation is a lack of �inspiring leadership� from their CEO. �Many CEO�s are not as effective at inspiring or empowering their executives to work harder than they believe they are, according to the executives we spoke with. We head that the more a CEO wants commitment and higher levels of performance from its executives, the more he or she must involve their executives in establishing work goals, defining specific plans for achievement, and providing them with the autonomy and resources to be successful,� says Carney.
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What is an Exit Interview?
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10/24/2005
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An exit interview is typically a meeting between at least one representative from a company's human resources (HR) department and a departing employee. (The departing employee usually has voluntarily resigned vs. getting laid off or fired.) The HR rep might ask the employee questions while taking notes, ask the employee to complete a questionnaire, or both
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When the Old and the New CEO Don't See Things Eye
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10/24/2005
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When Steve Heyer was named chief executive of Starwood Hotels & Resorts Worldwide Inc. last fall, he and company founder Barry Sternlicht agreed to meet together with an executive coach who would help them work out disagreements that might arise during Mr. Heyer's first 100 days on the job
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Some CEOs Find a Way To Work Fewer Hours
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08/25/2005
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Larry Ellison, chief executive of Oracle, rejects a management model he thinks too many chief executives follow of being "weak kings with strong dukes." Under this model, he says, CEOs allow business unit heads "to run their own show as long as they make their profit numbers." The CEOs may not know what's really going on in Japan or Chicago, he argues, and "it isn't terribly efficient since not everyone is following centralized processes."
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Before Trying to Fix the Business, A CEO Had to Un
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08/25/2005
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When Mark Hurd was named chief executive of Hewlett-Packard Co. in late March, the board gave him a clear mission: fix the giant computer and printer maker, which was suffering from slow growth and inconsistent results.
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Exec Laments Lack of Degree,But Does It Really Mat
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08/18/2005
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I started with my company fresh out of high school 15 years ago and rose to president. I know my experience and work ethic are assets, but my lack of a college degree is a big hole on my resume. What advice do you have?
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Top Directors Grow Hesitant To Serve on Corporate
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04/10/2005
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Times are getting tenser in some corporate boardrooms.
Tentative court settlements unveiled last week disclosed that 10 former directors of WorldCom Inc. (now called MCI Inc.) and another 10 from Enron Corp. agreed to fork over a total of $31 million from their own wallets to settle lawsuits. As a result, outside directors may now "think very hard about what they're doing," says Giles Stockton, a directors-and-officers insurance underwriter for Brit Insurance Holdings PLC, a United Kingdom insurer. "To be extinguished from litigation, they may have to pay out of their own pocket."
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Top CEOs Offer Advice For Making a Fresh Start
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04/10/2005
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It is time for resolutions about making changes in our work and personal lives. Managers who want to revitalize their careers and achieve more in 2005 can look for inspiration to top executives who have had to prove themselves quickly in new jobs.
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