LEADERSHIP & STRATEGY
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“ These actions can be seen as a gesture to preserve cash . More importantly , they can make a positive impact if the funds are set aside for COVID-19 / CSR / Environmental , Social and Governance ( ESG ) efforts ,” comments Tan and Ganu .
Aside from the previous two response methods to COVID-19 , many organisations have taken a ‘ wait and see ’ approach , which Tan and Ganu have deemed as perhaps the only time that an approach like this could be reasonable and appropriate . “ Rather than spending time and energy reviewing incentive plans , forecasting financial outcomes and setting performance goals , boards and management should focus their attention on human capital management .”
EXECUTIVE COMPENSATION : MEDIUM TO LONG TERM MANAGEMENT
Whilst the above is suitable in the short term , organisations in the medium to long term should focus on the below for long term stability and returning to work , even if it is in a ‘ new normal ’ scenario .
FEBRUARY 2021