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I am a Practitioner of 'The 7e Way of Leaders' where a Leader will Envision, Enable (ASK for TOP D), Empower, Execute, Energize, and Evolve grounded on ETHICS!

Friday, March 31, 2017

Daily Lessons from Life 30 March 2017 - Kissing Wings? And 'fake Pay Cut?

1. "Wings of Emirates and Scoot planes collide at Changi Airport: Passenger felt sudden jerk 

Stomp reader YM alerted citizen journalism site Stomp to a collision between an Emirates plane and a Scoot plane this morning (Mar 30) at about 2am in Changi Airport Terminal 1. According to YM, who was on the Emirates plane, a wing from each aircraft came into contact as the planes were preparing for departure, and a part of the Emirates plane's wing was damaged due to the impact."

A RARE incident in Changi International Airport. We have an unblemished safety records so this RARE incident MUST be taken very very seriously and the root causes of this 'kissing wings' must be found and preventive measures be implemented to ensure non-recurrence.

2. "DBS CEO Piyush Gupta takes 23% pay cut in 2016 - The Business Times 30 March 2017

There YOU, the Press, goes again!! CEO Piyush DID NOT take a 23% pay cut in 2016. He DID NOT EARN his variable pay components (bonuses) as he DID NOT make the KPIs!!

From the numbers published here, it seems that he DID NOT get a increment in his FIXED SALARY in 2016 since the REDUCTION in his TOTAL Compensation ALL were accounted from the 1m from cash bonus and 1.5m from shares incentive. However, IF he DID, it is SHAMEFUL that the PRESS ignored to publish it.

I have appealed to the PRESS to report the Fixed and Variable Pay components SEPARATELY and NOT distort the significance of keeping them separate. The Press report that the now privatised SMRT Group CEO had a PAY CUT too when his total pay was revealed the last time WHEN in fact he had a 5-figure INCREMENT to his FIXED SALARY!! Again, as with CEO Piyush, the SMRT Group CEO then DID NOT earn the variable component (bonuses and what-not) because HE FAILED to achieve KPIs!!

When the Economy Reform Committee in the '80s came up with the strategy of ENCOURAGING 'a reasonable fixed salary' and 'a as-long-as-you-can-fund-it variable pay component', it was hailed as a MUST DO and a GOOD CULTURE for Singapore enterprises to develop and embrace. I guessed these GOOD ADVICE have GONE to the DOG! Greedy top dogs and cowardice Remuneration Committee Chairman and members?

I hope the top leaders can lead in this area. When top leaders STOP paying themselves ever increasing FIXED SALARY and strive to earn the VARIABLE pay components, they are setting a GOOD healthy and sustainable PAY CULTURE that will KEEP Sgp Inc competitive! Unless of course, they are just Generals of Fortune and will go where the pay masters just PAY regardless of performance!

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