Amid this controversy, Edward Liddy, AIG’s CEO, requested the bonus recipients to return half of the bonus amount. Some Financial Products employees decided to return their bonuses; others opted to keep their bonuses. Many affected Financial Products employees felt betrayed by AIG because of repeated reassurances of the bonus payments under contractual obligations. Subsequently, Kenneth Feinberg, the federal government’s overseer of executive compensation at AIG and other major TARP recipients, played a key role in addressing the controversy over the AIG retention bonuses. He made several controversial decisions with respect to compensating AIG’s executives.
Project 1 Explain how, when working, you would find out what was expected of you and what work standards would be expected of you. How would this knowledge impact on the ways in which you organise your time and manage your work tasks? When working in a workplace I would firstly be expected to find out what the relevant industry standards are and what the organisational goals are within their workplace. I would find out what was expected from the job description that has been assigned to me and a thorough explanation on the job description so that both my employee and I are clear on what is expected by me. Also having a clear understanding of customer expectations and values is essential, as they are important to meet the demands and thus assists the organisation in achieving their personal goals.
By focusing attention on setting understandable performance expectation, it will help the employees know what is expected of them to be successful on the job. HRM defines career development goals as part of the process they make it very clear how the current position supports employee growth and additional opportunities the employee may explore. HRM should inspire employees to strive and achieve the company’s mission statement and objectives. Corporation and the employees should understand how an employee contributes to the organization. With customary discussions on feedback, coaching and position updates encourage flexibility.
This form of leadership allows individuals to take accountability of meeting the goals of the organization. Transformational leadership fosters open communication between company lines and throughout the organizational lines. Transformational leaders are visionary and can motivate employees to do what is right for the company, despite individual differences. Building trust with the teams of employees is crucial. Transformational leadership allows for the necessary changes in paradigms to occur within the
Managers of an organisation manage: themselves, people and relationships, policies and procedures, environments, financial and physical resources, information and technology, ideas, operations and processes. Leaders and managers demonstrate ethical behaviour when they: * match action to vision and espoused values * do what they say they will do * treat employees and society with respect * give as much as they receive As a leader, I am a model those behaviours, and to promote ethical workplace behaviours I should make clear expectations * lead by example * provide appropriate coaching, mentoring and
With Citigroup’s organizational culture it has guided employees toward the behaviors and attitudes that have put the company at risk. The company must revert to what is important that is the customers and focus on the core values of the organizations, and the vision of the organization. To change Citigroup’s organizational culture there needs to be a shared responsibility among the leaders of the company, managers, and employees. By having a shared responsibility will make Citigroup’s organizational culture more effective and productive. Having shared responsibility will allow each employee to achieve or accomplish his or her full potential, and acting with the greatest level integrity when dealing with one another, and customers.
In order to correctly carry out these actions it takes being able to present these functions in a way that the consumers can grasp and have a strong urge to want to be a part of the company that is being presented. In order to successfully carry out a particular message that the HRM branch of the company needs to carry out it takes various marketing tools and strategies in which a marketer is professionally trained and well educated on in order to carry out the message the company is trying to deliver to potential employees of various backgrounds that will capture their minds and bring them together to achieve the company’s vision. I think that “marketing” a company’s jobs can improve the strategy focus of human resources personnel because there would more of an influx of potential candidates eager and ready to fill the companies needs and those prospective candidates would already be aware of what the company’s focus is mainly because the of the strategic marketing efforts that were dispersed from the company. 2. If you were planning to use marketing strategies to “brand” a company as an employer of choice, what are some of factors you’d consider?
Chemers M (1997) showed that leadership has been described as the "process of social influence in which one person can enlist the aid and support of others in the accomplishment of common tasks". As a result it might have significant influences to the efforts and motivation of employees on their working performance. In addition, leadership can build; influence and changing the organizational culture and it might contribute to the establishment of the organizational culture. One of the primary responsibilities of strategic leader is to create working
These engaged employees believe that their success should be attributed to a mutual commitment between them and the company and not just their personal commitment. To sum it up, engaged employees don’t just think about themselves. Instead, they think of the future of the organization and the company. As a result, they draw inspiration