e Board. While what I'm about to write is easier said than done, companies need to hire better - and dare I say smarter - people for their boards. Giving away the farm in a contract may not be one of the best business practices seen to date - lol.
FASB "regulates" finance; perhaps its time for those strategic business partners out there to flex their strategic business partner muscle and establish an ERASE - Employee Relations Accounting Standards Entity (had to change the B, I just had to).
Re:buybacks...possibly. Part of FASB would be to specify the framework for buyback scenarios. Buybacks take place because the short term implications on the stock price are typically positive, allowing management to see the most immediate results to their compensation. And any dividend cut reflects poorly on management. So a BB allows management to pass cash to the shareholders without raising dividends - everyone leaves happy. Bottom-line: FASB could address this if they wanted to and develop standards. If they wanted to... More about buybacks here.
Again, great points Josh. Anyone else interested?…
Added by Steve Levy at 11:16am on November 5, 2008
rities and is indeed primarily designed for internal comparison and use, typically in the remuneration arena.
Undertaking a recruitment (successfully) requires an approach suited to that particular purpose. While a JD may well be 'grist for the mill' when we recruit for a client, we typically put it aside while we conduct a thorough briefing with the line manager to whom the role reports (and the HR person, who usually acts as a project manager).
I found your brief story about your 5 drafts with your COO re the BDM position a great example of what should happen, but so often doesn't with all levels of recruitment, including senior ones.
Which for me leads to the question, why is it that so many senior managers, some the higher they get in their roles, want to spend less and less time involved in a quality recruitment briefing process, when the people they are hiring to report to them will potentially have great influence on the role they go into and the organisation as a whole? Is that what we train them to expect on their way up, is it hubris, or just poor quality recruitment intervention and expertise, both or either from outside or inside the host organisation?…
Added by Jim Bailey at 9:29pm on September 3, 2009