Time for a pay review
Everyone looks forward and expects a pay rise throughout the year. That simple increase to an employee’s salary is the result of a delicate process called a pay review.
Everyone looks forward and expects a pay rise throughout the year. That simple increase to an employee’s salary is the result of a delicate process called a pay review.
The Situation
The client, which has been in the business for over 30 years, sought to up-skill the firm’s management team by better equipping them to lead their respective teams and above all, their strategic awareness.
On a few occasions during a board meeting you feel that it would be better if there were no executives around to express an opinion or a point of view.
High staff turnover causes negative morale at the office. Demotivation and disengagement kick in, affecting the relationship with your customers, which will eventually affect your turnover and profit margins. All this leads to a serious negative impact on your company culture and also on your company’s reputation.
One of the biggest challenges facing business in these last twenty years is that of adapting to the change brought about by outside forces.
The damage done by the financial crisis of 2008 to the image of business is mostly unrepairable.
I am all for continuous professional development (CPD) and I do believe that an ongoing process of learning is crucial for the progression of any career or profession.
There is more than ample evidence that boards of directors in Malta are steadily, although quietly, changing. A number of factors have contributed to this.
For a time, a number of former senior bank executives and semi-retired accountancy firm partners were being regularly contacted to sit on boards of newly registered companies with foreign shareholders.
Board directors expect to receive what they consider a standard board agenda. It includes management accounts, (perhaps) a sales and operations report, (hopefully) budgets, a request for approval of a capital expenditure project, besides the even more standard corporate governance items of approval of half yearly or end of year financial statements, auditors’ reports etc.