哈佛商業(yè)評論中英文對照-績效薪酬的致命缺陷

1、The Fatal Flaw in Pay for Performance績效薪酬的致命缺陷by Ben W. Heineman, Jr. 小本杰明·海涅曼Many corporate boards, responding to shareholder and public pressure, are designing pay-for-performance plans to hold CEOs accountable. But there is often a crucial flaw in such schemes: They dont pay for perform

2、ance with integrity.迫于股東和公眾壓力，許多公司董事會(huì)都在努力建立與業(yè)績掛鉤的薪酬體系，以期CEO們恪盡職守。但是，此類薪酬體系往往存在一個(gè)致命缺陷：僅關(guān)注業(yè)績，而忽略了操守。The omissionevident from compensation committee reports in top companies proxy statementsis striking. Corporations, after all, face unceasing pressures to make the numbers by bending the rules, and an i

3、ntegrity miss can have catastrophic consequences, including indictments, fines, dismissals, and collapse of market capitalization. Furthermore, performance with integrity creates the fundamental trustinside and outside the companyon which corporate power is based.從頂級公司股東委托書所附的薪酬委員會(huì)報(bào)告可以看出，這種忽略是顯而易見的。

4、畢竟，上市公司始終面臨著完成業(yè)績目標(biāo)的巨大壓力。為此，它們不惜違規(guī)違紀(jì)。然而，這種職業(yè)操守的缺失將導(dǎo)致各種災(zāi)難性后果，包括起訴糾紛、罰款賠付、解雇免職以及市值暴跌。殊不知，操守與業(yè)績并重，才能在公司內(nèi)外贏得最基本的信任，而公司力量也只是建立在信任的基礎(chǔ)之上。A board should explicitly base a defined portion of the CEOs cash compensation and equity grants on his or her success in handling the foundational task of fusing high per

5、formance with high integrity at all levels of the company. Why dont boards do that? They may be uncertain about the meaning of integrity and how to assess its integration into financial performance.在公司各個(gè)層面上將高尚操守和卓越業(yè)績相融合是CEO的基本任務(wù)，董事會(huì)應(yīng)該在CEO的現(xiàn)金和股權(quán)報(bào)酬中劃出一定比例，專門與CEO在上述任務(wù)上的表現(xiàn)掛鉤。但董事會(huì)為何沒有這樣做呢？這可能是因?yàn)樗麄冏约簩Σ偈氐暮?/p>

6、義也并不確定，更不知道該如何考核職業(yè)操守與財(cái)務(wù)業(yè)績的融合了。Step one, then, in designing pay for performance with integrity is using the following definition: Integrity is a uniform corporate culture with three elementsrobust adherence to formal rules; adoption of ethical standards that are in the companys long-term enlightened

7、self-interest; and employee commitment to honesty, candor, fairness, trustworthiness, and reliability. Step two is for the board to assess whether the CEO has infused high performance with high integrity. The board can do that by answering the following questions, using hard analytics as well as the

8、 board members own judgment.那么，董事會(huì)要設(shè)計(jì)重操守的績效薪酬制，第一步要做的就是引入操守概念：操守是全公司的統(tǒng)一文化，有三個(gè)要素組成堅(jiān)決遵守正式的規(guī)章制度；采用符合公司長遠(yuǎn)利益同時(shí)又不損害他人利益的倫理標(biāo)準(zhǔn)；員工要承諾做到誠實(shí)坦率、公平公正、可信可靠。第二步，董事會(huì)需運(yùn)用一些復(fù)雜的分析工具，當(dāng)然也要運(yùn)用他們的個(gè)人判斷力，來考核CEO是否已經(jīng)把高尚操守和卓越業(yè)績相融合。董事會(huì)可根據(jù)以下問題判斷： Has the CEO established company-wide performance-with-integrity principles for which t

9、he firms leaders are responsible and accountable? Examples of these include demonstrating committed and consistent integrity leadership; managing performance with integrity as a business process; using early-warning systems to stay ahead of global trends; providing timely, risk-assessed training; an

10、d giving employees a voice. CEO是否在全公司范圍內(nèi)制定了操守和業(yè)績并重的薪酬制度，且由公司領(lǐng)導(dǎo)層對此負(fù)責(zé)？舉例而言，CEO應(yīng)該做到：領(lǐng)導(dǎo)層始終如一地恪守職業(yè)操守，把操守和業(yè)績的結(jié)合當(dāng)作一項(xiàng)業(yè)務(wù)流程來管理，運(yùn)用預(yù)警系統(tǒng)搶先把握全球商業(yè)規(guī)范趨勢，及時(shí)提供道德風(fēng)險(xiǎn)評估培訓(xùn)，并保證員工的發(fā)言權(quán)。 Have the CEO and top managers implemented these principles through robust practices? If leaders dont invest time, effort, and resources in e

11、mbedding key integrity practices in business processes, “tone at the top” is just window dressing. (For examples, see the sidebar “The Practice of Performance with Integrity.”) CEO和高管們是否在實(shí)踐中貫徹了這些原則？如果領(lǐng)導(dǎo)層沒有投入足夠的時(shí)間、精力和資源，將關(guān)鍵的操守原則落實(shí)到公司的業(yè)務(wù)流程中，那么所謂的“高層主張”就只不過是空口白話而已。（參見副欄“操守與業(yè)績并重的管理實(shí)踐”） Has integrity per

12、meated every aspect of the corporate culture? One vital tool for assessing that is an annual, anonymous employee survey across all businesses and regions that asks, “Is integrity compromised by business pressures?” and “Are the leaders verbal commitments to integrity reflected in action?” The board

13、can also have outside HR experts periodically conduct 360-degree assessments of the CEO and top executives that explore such questions. 操守原則是否已滲透到公司文化的每個(gè)層面？一個(gè)重要的評估工具就是覆蓋公司所有業(yè)務(wù)及地區(qū)的員工匿名年度調(diào)查表，其中包括這些問題：“操守原則是否會(huì)向商業(yè)壓力讓步？”“在恪守職業(yè)操守方面，領(lǐng)導(dǎo)是否言行一致？”董事會(huì)還可以定期邀請外部的人力資源管理專家，同樣就此類問題對CEO和高管進(jìn)行360度評估。 Has the CEO met an

14、nual performance-with-integrity objectives set by the board? One example might be effectively handling a major miss or crisisan environmental accident, a bribery case, or a financial restatementand remedying the problem systematically after a candid analysis of its causes. Another objective might be

15、 hiring leaders in emerging markets such as China, Russia, and India who are skilled in integrating performance and integrity. CEO是否完成了董事會(huì)設(shè)定的操守和業(yè)績并重的年度目標(biāo)？比如說，這個(gè)目標(biāo)是：CEO有效處理嚴(yán)重失誤或危機(jī)（如環(huán)境事故、賄賂案，或者財(cái)務(wù)造假），并且在對事件起因進(jìn)行坦誠分析后，有條不紊地解決問題。又比如：在新興市場（如中國、俄羅斯和印度）聘用善于兼顧操守與業(yè)績的領(lǐng)導(dǎo)者。 How do business divisions rate comparat

16、ively? The board should look at how integrity practices differ among divisions and how the CEO deals with laggards. It should also look at how the units rank against external peers. (This may require data from news or government reports or a comparative audit by, say, a former regulatory official.)

17、公司各事業(yè)部在職業(yè)操守方面的相對表現(xiàn)如何？董事會(huì)要觀察各事業(yè)部之間的操守差異，以及CEO是如何處理那些落后分部的。同時(shí)，董事會(huì)還要將這些事業(yè)部與公司外部的同行進(jìn)行比較。（這可能需要從新聞報(bào)道、政府報(bào)告或前監(jiān)管機(jī)構(gòu)官員的的比較審計(jì)資料中收集數(shù)據(jù)）The boards standards for assessing pay for performance with integrity should also define a new set of “specs” in the companys CEO succession planning. In evaluating candidates, t

18、he board should ask: Do they possess the knowledge, experience, and skills to drive a robust performance-with-integrity culture deep into the companys global operations? The same specs should be used to evaluate the compensation of senior executives and set goals for leadership development programs.

19、 Thats the best way to ensure that, over the long term, the companys top ranks are filled with managers who live by the principles and practices of performance with integrityand thus help the company avoid debilitating risks and secure the trust that is vital to doing business.董事會(huì)在明確上述考核標(biāo)準(zhǔn)時(shí)，還應(yīng)制定一套新的

20、CEO繼任“規(guī)范”。在考量候選人時(shí)，董事會(huì)應(yīng)該問：他們的知識、經(jīng)驗(yàn)、能力是否有利于推動(dòng)操守和業(yè)績并重的健康企業(yè)文化，使之深入公司在全球的每一個(gè)經(jīng)營機(jī)構(gòu)？另外，這套規(guī)范還應(yīng)當(dāng)運(yùn)用在高管薪酬評估，以及領(lǐng)導(dǎo)人培養(yǎng)項(xiàng)目的目標(biāo)設(shè)定中。長期來看這也是確保公司高層堅(jiān)持操守和業(yè)績并重原則的最佳方式，有助于公司規(guī)避風(fēng)險(xiǎn)，獲取商界成功所必需的信任。The Practice of Performance with IntegrityHeres a sample list of questions (greatly shortened because of space limits) that will help b

21、oards assess a CEOs performance-with-integrity practices. They can be answered using tools like process reviews and substantive audits and external outcomes (such as environmental violations or customer complaints).LeadershipDoes the CEO. communicate to the organization that integrity must never be

22、compromised to make the numbers? discipline generals, not just troops, for integrity lapses? address difficult integrity issues regularly at staff meetings? Business processesDoes the CEO. build a strong integrity infrastructureprocesses for preventing, detecting, and responding to lapses in all businesses and regionsand put A players in charge of it? assess integrity needs realistically and provide adequate funding for those activities? respond pr