哈佛商业评论中英文对照-绩效薪酬的致命缺陷.doc

我爱你，仅此而已 爱情开始的时候，会把天涯变成了咫尺； 爱情结束的时候，又把咫尺变成了天涯。 曾经以为，爱情是人生的全部； 然而有一天发现，那只是我浪掷了最多光阴的一部分。 曾经以为，爱上了，就不会寂寞； 然而有一天发现，寂寞还是爱上了我。 曾经以为，爱上了你，我可以全身而退； 然而有一天发现，我退得满身伤痕。 /wenzhang/aiqingwenzhang/20111127/208517.html 有时候我们有些近视，忽略了离我们最真的情感； 有时候我们有些远视，模糊了离我们最近的幸福。 一辈子很短，远没有我们想象那么长，永远真的没有多远。 所以，对爱你的人好一点，对自己好一点， 今天在你枕边，明天可能成了陌路。 如果这辈子来不及好好相爱，就更不要指望下辈子还能遇见The Fatal Flaw in Pay for Performance绩效薪酬的致命缺陷byBen 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 performance with integrity.迫于股东和公众压力，许多公司董事会都在努力建立与业绩挂钩的薪酬体系，以期CEO们恪尽职守。但是，此类薪酬体系往往存在一个致命缺陷：仅关注业绩，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 integrity 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.从顶级公司股东委托书所附的薪酬委员会报告可以看出，这种忽略是显而易见的。毕竟，上市公司始终面临着完成业绩目标的巨大压力。为此，它们不惜违规违纪。然而，这种职业操守的缺失将导致各种灾难性后果，包括起诉纠纷、罚款赔付、解雇免职以及市值暴跌。殊不知，操守与业绩并重，才能在公司内外赢得最基本的信任，而公司力量也只是建立在信任的基础之上。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 performance 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.在公司各个层面上将高尚操守和卓越业绩相融合是CEO的基本任务，董事会应该在CEO的现金和股权报酬中划出一定比例，专门与CEO在上述任务上的表现挂钩。但董事会为何没有这样做呢？这可能是因为他们自己对操守的含义也并不确定，更不知道该如何考核职业操守与财务业绩的融合了。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 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 board members own judgment.那么，董事会要设计重操守的绩效薪酬制，第一步要做的就是引入操守概念：操守是全公司的统一文化，有三个要素组成坚决遵守正式的规章制度；采用符合公司长远利益同时又不损害他人利益的伦理标准；员工要承诺做到诚实坦率、公平公正、可信可靠。第二步，董事会需运用一些复杂的分析工具，当然也要运用他们的个人判断力，来考核CEO是否已经把高尚操守和卓越业绩相融合。董事会可根据以下问题判断： Has the CEO established company-wide performance-with-integrity principles for which the 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; and giving employees a voice. CEO是否在全公司范围内制定了操守和业绩并重的薪酬制度，且由公司领导层对此负责？举例而言，CEO应该做到：领导层始终如一地恪守职业操守，把操守和业绩的结合当作一项业务流程来管理，运用预警系统抢先把握全球商业规范趋势，及时提供道德风险评估培训，并保证员工的发言权。 Have the CEO and top managers implemented these principles through robust practices? If leaders dont invest time, effort, and resources in embedding 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和高管们是否在实践中贯彻了这些原则？如果领导层没有投入足够的时间、精力和资源，将关键的操守原则落实到公司的业务流程中，那么所谓的“高层主张”就只不过是空口白话而已。（参见副栏“操守与业绩并重的管理实践”） Has integrity permeated 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 can also have outside HR experts periodically conduct 360-degree assessments of the CEO and top executives that explore such questions. 操守原则是否已渗透到公司文化的每个层面？一个重要的评估工具就是覆盖公司所有业务及地区的员工匿名年度调查表，其中包括这些问题：“操守原则是否会向商业压力让步？”“在恪守职业操守方面，领导是否言行一致？”董事会还可以定期邀请外部的人力资源管理专家，同样就此类问题对CEO和高管进行360度评估。 Has the CEO met annual 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 hiring leaders in emerging markets such as China, Russia, and India who are skilled in integrating performance and integrity. CEO是否完成了董事会设定的操守和业绩并重的年度目标？比如说，这个目标是：CEO有效处理严重失误或危机（如环境事故、贿赂案，或者财务造假），并且在对事件起因进行坦诚分析后，有条不紊地解决问题。又比如：在新兴市场（如中国、俄罗斯和印度）聘用善于兼顾操守与业绩的领导者。 How do business divisions rate comparatively? 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.) 公司各事业部在职业操守方面的相对表现如何？董事会要观察各事业部之间的操守差异，以及CEO是如何处理那些落后分部的。同时，董事会还要将这些事业部与公司外部的同行进行比较。（这可能需要从新闻报道、政府报告或前监管机构官员的的比较审计资料中收集数据）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, the 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. 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.董事会在明确上述考核标准时，还应制定一套新的CEO继任“规范”。在考量候选人时，董事会应该问：他们的知识、经验、能力是否有利于推动操守和业绩并重的健康企业文化，使之深入公司在全球的每一个经营机构？另外，这套规范还应当运用在高管薪酬评估，以及领导人培养项目的目标设定中。长期来看这也是确保公司高层坚持操守和业绩并重原则的最佳方式，有助于公司规避风险，获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 boards 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 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 promptly to early warnings on trends in legal, ethical, and country