Rewarding for Future Success
26 February 2009
Once again, PARC is at the forefront of reward thinking! At a PARC Workshop in late 2007, Professor Sir Andrew Likierman of the London Business School demonstrated the compelling need to develop forward-facing measures that will deliver long term business success. He argued that short-term financial metrics currently dominate executive reward programmes, and fall well short of what is required.
The financial turmoil of 2008 has subsequently demonstrated how seemingly robust businesses can be brought to the point of collapse by the pursuit of well remunerated, but inappropriate, short term performance and goals.
Following on from the 2007 Workshop, PARC asked Paul Williams to research and develop Professor Likierman's ideas, with the accent on practical insights and case study data that can help the HR function to change top-level thinking.
The Research Report Meeting:
In this seminar, originally planned for October 2008 but deferred to give more time to the research process, Paul presented his findings, and invited PARC members to discuss the levers available to HR and Reward Professionals to establish their leadership role in this critical area of successful planning and strategy. This subject should be on every Board agenda. This seminar concentrated on breakthrough thinking and some down-to-earth practical "takeaways".
A copy of the report and post meeting notes are available for members to download in the Knowledge Base.