TalentOur Vision: Chairman's Update
Looking Forward, Looking Back…. Lessons from the GFC
Welcome to 2010.
This year we are seeing increasing success to those companies who have managed their risk well, whilst still pursuing a confident growth strategy.
Also, those who remained invested in finding the best executive talent, have had a veritable assortment to chose from. These companies have positioned themselves well for the coming upturn, by recognising the need to stay ‘ahead of the curve’. And whilst some of the International regions such as UAE have cooled their heels, many Australian companies are snapping up the global talent. This year, the war-for-talent is back with a vengeance.
One of the hottest issues resulting from the financial losses incurred by many organisations last year was executive and director remuneration. OPPEUS has a depth of knowledge in this field and our specialist consultants have been keenly watching the developments unfold. OPPEUS are already working with clients around the new APRA Prudential Standards. You can read about the new APRA guidelines and their effect on financial institutions on our website here.
Also of note, OPPEUS International’s Organisation practice continues to be extremely busy. HR specialist Sue Hurly, has been undertaking extensive work with clients around restructuring and accountability mapping as organisations went into ‘protect’ mode.
This work involves understanding the complex relationship between accountabilities, processes, tasks, workflow and decision making authorities. Sue believes “organisation design is more than structural - it is about aligning people and processes to improve productivity and innovation. The result is a unique structure which aids management in creating successful outcomes across all levels of the business.”
We have some examples our recent work posted on our website, click here to read more.
The issue of governance took an interesting turn. Whilst many boards were berated by shareholders for their remuneration and strategy, many turned inward when it came time to conduct Board reviews, believing that it was a way to save money. In fact, much of the time, an external Board Review, will yield much more through objective experience and insight leading to greater governance performance and risk management.
The good news is some companies are demonstrating leadership and confidence in conducting rigorous board reviews and governance development programs.
Recently, we completed a comparative study of global Board governance practices for a significant global mining company. The study looked into the Board governance frameworks and practices of global comparator companies. This study included profiling of the Board and their operations and we were able to produce an insightful report which benchmarked these practices and trends. The insights are being used to enhance the world’s best practice governance by this major corporation.
We welcome any or comments and the opportunity to speak with you should you have any questions regarding how OPPEUS’ integrated domains of practice (Talent, Organisation, Governance & Remuneration) can assist your organisation. You can also download our latest brochure, by clicking here.
Kind regards,
PETER KRONBORG
EXECUTIVE CHAIRMAN
OPPEUS
