Human Capital: Page 26

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    Sudden Hike in Wages Is Biggest in a Decade

    Faced with historically low unemployment that has worsened the long-entrenched shortage of skilled workers, companies are ramping up employee compensation to a degree not seen in a decade, new data indicates.On Wednesday the Bureau of Labor Statistics revealed that wages and salaries rose 3.1% fo...

    By • Nov. 1, 2018
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    Most Companies Don’t Manage Health-Care Waste

    Most employers believe there’s significant waste in the health-care system. They’re quite concerned about it — but apparently not concerned enough to do much about it.Among 126 employers who participated in a recent survey, almost four in five (78%) estimated that at least 10% of medical treatmen...

    By • Oct. 25, 2018
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    Coke CFO Waller Ending ‘Remarkable’ Career

    Coca-Cola has announced that Kathy Waller is stepping down after four years as CFO and will be replaced by a “rising star” at the soft drinks giant, Asia Pacific Group chief John Murphy.Waller, who will retire in March 2019, joined Coca-Cola as a senior accountant in 1987. She told The Wall Stree...

    By Matthew Heller • Oct. 19, 2018
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    Fresh Evidence of Gender Bias in Pay Practices

    A massive six-year study by the ADP Research Institute confirms that women, on average, are paid substantially less than men.The research tracked the compensation of approximately 11,000 people who were hired into exempt salaried positions during the third quarter of 2010 and continuously worked ...

    By • Oct. 16, 2018
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    Performance-based Pay Enriched CFOs in 2017

    Top executives of large, publicly held companies rode strong performance metrics to big pay hikes in 2017, according to just-released data from Compensation Advisory Partners.Median total direct compensation — the sum of salary, actual bonus, and long-term incentives (LTI), as reported in 2018 pr...

    By • Oct. 3, 2018
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    GE Ousts CEO Flannery as Slump Continues

    General Electric on Monday removed John Flannery as CEO after only a year on the job, apparently reflecting the board’s loss of confidence in his ability to dig the troubled conglomerate out of a severe slump.Flannery announced a plan to transform GE in November 2017 shortly after replacing Jeff ...

    By Matthew Heller • Oct. 1, 2018
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    SEC Sues Elon Musk Over Tesla Buyout Claims

    In what could be the biggest threat to Elon Musk’s leadership of Tesla, the U.S. Securities and Exchange Commission has accused the controversial executive of misleading investors with his tweets suggesting he had lined up a deal to take the automaker private.While Musk tweeted on Aug. 7 that a d...

    By Matthew Heller • Sept. 28, 2018
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    New CFO Works Overtime to Learn His New Industry

    Like numerous General Electric finance executives before him, Jamey Mock recently left to become the CFO of a publicly held company. He’d spent his entire 19-year professional career at GE.He has been running finance since May 1 of this year at PerkinElmer, a Fortune 1000 life-sciences company. I...

    By • Sept. 24, 2018
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    CFOs on the Move: Week Ending Sept. 21

    Darren Wells has been chosen to fill the top finance spot at The Goodyear Tire & Rubber Co. He replaces Laura Thompson, who announced in June that she would retire. Wells initially joined the company in 2002 as treasurer, and was CFO from 2008 until 2013. He then was president of the firm’s E...

    By Joan Urdang • Sept. 21, 2018
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    WeWork Agrees to Scrap Non-Compete Clauses

    WeWork has reached a landmark settlement with New York and Illinois that frees more than 1,400 employees from non-compete clauses in their employment contracts and loosens restrictions on another 1,800.The settlement resolves investigations by the states’ attorney generals that found WeWork had b...

    By Matthew Heller • Sept. 19, 2018
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    Scherr Named Goldman CFO in Big Reshuffle

    Goldman Sachs veteran Stephen Scherr has been named the bank’s new CFO, adding his investment banking experience to the management team of incoming Chief Executive David Solomon.Scherr will take over from R. Martin Chavez on Nov. 5 after serving most recently as CEO of Goldman Sachs Bank USA and ...

    By Matthew Heller • Sept. 14, 2018
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    Tesla CAO Morton Quits After a Month on Job

    In another possible sign of disarray at Tesla, Chief Accounting Officer Dave Morton has resigned after less than a month on the job.Tesla said in a regulatory filing Friday that Morton notified them on Monday he was leaving the automaker. He had joined Tesla from hard drive maker Seagate Technolo...

    By Matthew Heller • Sept. 7, 2018
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    CFOs on the Move: Week Ending Sept. 7

    Citigroup announced that its finance chief, John Gerspach, plans to retire next March 1. Gerspach, who has headed finance since 2009, will be replaced by Mark Mason, finance chief of the company’s institutional clients group.Retirement fund CalPERS has appointed Michael Cohen to the top finance s...

    By Joan Urdang • Sept. 7, 2018
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    HPE Names Ex-Sprint Exec Robbiati as CFO

    Hewlett Packard Enterprise has named former Sprint CFO Tarek Robbiati as its new finance chief, citing his experience in “driving transformation and building and sustaining growth.”Robbiati left Sprint in February after a two-and-a-half year tenure during which, according to HPE, he “drove Sprint...

    By Matthew Heller • Aug. 29, 2018
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    With Stocks Up, Finance Chiefs Are On the Move

    An interesting fact about turnover in the C-suite is that it generally tracks the movements of the S&P 500 Index. That is, when stocks go up, the number of executives leaving or switching jobs does, too. And vice versa.Accordingly, given this year’s bountiful stock returns, the turnover rate ...

    By • Aug. 23, 2018
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    How to Avoid Making Costly Bad Hires

    The fact that a bad hire is a costly mistake isn’t news. It’s a well-known truth that hiring mistakes reverberate across the organization.Unfortunately, in the current full-employment U.S. economy, where there’s stiff competition for top candidates, many companies struggle to find talent and are ...

    By Brian Weed and Avenica • Aug. 22, 2018
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    Tight Labor Market Doesn’t Move Wage Needle

    The labor market is tight. U.S. companies are challenged more than ever to find, win, and retain talent. At the same time, a majority of U.S. companies have extra cash on hand, thanks to the Tax Cuts and Jobs Act.Despite all that, companies generally are planning to boost their compensation budge...

    By • Aug. 16, 2018
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    Beware of Health Care Consultants’ Partnerships

    Partnerships and preferred relationships are a critical piece of the business model in the group health care industry. The perception is that the relationships provide better value for clients.That may well be the case. It is the duty of consultants and insurance brokers to provide the options th...

    By Michael O'Grady • Aug. 14, 2018
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    What CFOs Should Know About Retirement Plan Audits

    When it comes to maintaining an effective 401(k) savings program for employees, systematic audits of the plan are essential.A common reason for an audit is to minimize the financial risk associated with annual tax-filing obligations. However, as certain issues, like financial wellness and cyberse...

    By Frank O'Neill • July 24, 2018
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    CFOs on the Move: Week Ending July 20

    Simon Property Group has promoted Brian McDade to the top finance spot, effective Oct. 1. He takes over from Andy Juster, who had formerly announced that he would retire at the end of the year. McDade is currently treasurer of the company.Steven Cochran has been chosen to lead the finance functio...

    By Joan Urdang • July 20, 2018
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    Finance Teams Must Adapt to Working With Machines

    Laurent Arveiller It’s been said that people are slow, sloppy, brilliant thinkers, while machines are fast, accurate, and stupid. But that’s not the case anymore – at least not for the machines. Machine learning, artificial intelligence, and blockchain have put some people at odds with the sweepi...

    By Laurent Arveiller • July 9, 2018
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    Labor Costs Will Skyrocket Over the Next Decade

    Organizations around the world could add more than $2.5 trillion to their annual labor costs within 12 years as a result of the global shortage of highly skilled workers, according to new research from Korn Ferry.The report follows up on the recruiting and workforce management firm’s forecast in ...

    By • July 6, 2018
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    Why Company Culture Is Overrated

    Given the time, energy, and money most American businesses spend to define their values and a desired culture, one would assume a big payoff. Yet there’s very little evidence that these investments yield much impact.Carl Robinson The organizations that can accurately cite culture as a driver of t...

    By Carl Robinson • July 3, 2018
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    Twitter Reorganizes, Names New Product Boss

    Twitter has named a new top product boss as part of a simplification of its management structure that organizes the company into functional groups.Ed Ho, the former vice president of both product and engineering, has been on leave from Twitter since May. Under the new structure, his job will be s...

    By Matthew Heller • June 29, 2018
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    How Employee Pay Programs Fall Short

    Employers’ base-pay programs tend to be too complex to effectively drive employee performance, new research suggests.Greater emphasis on incentive compensation could serve as a partial antidote. But, according to the research, the structure of pay-for-performance programs often leads to missed op...

    By • June 20, 2018