Now, that’s something that deserves passion!

IIPM Best MBA Institute

The solution? It can only lie with boards, which must pull themselves out of bunker mode to address this problem before it’s too far gone. Even in the current environment, they have to work up the courage to create creative compensation packages that link outsize pay to outsize performance. And they must make sure those packages reach deep down into the organization, well below the top five executives who generate all the media and shareholder activist hew-and-cry.

Moreover, boards must remember that for the best and brightest, the biggest career turn-on is not just money – it’s impact. Companies need to be offering exciting, challenging jobs with real decision-making authority to both senior executives and MBAs alike. Of course, those two measures won’t halt the flow of great people away from industry, but they could slow it to a trickle. And since great people are the whole game, that’s a dam worth building.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative