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TIME FOR SOUL SEARCHING

The present US Financial crisis was bound to happen. Only time will tell whether we have learnt something from it or not. Today, US president Obama blasted CEO’s who are still trying to get bonuses in this crisis time. I think (may be wrong) that the present system of bonuses for making short term profits is one of the major reason for so much greed in the executives across the globe. What we have observed that people get bonuses for their annual performance and then move on. The company is normally not able to assess the long term impact of the short term performance of its employees. It is high time that HR professionals look into the whole compensation process with a holistic attitude that can be beneficial for the organization in the long term.

CEO’s and executives of large companies took their bonuses (some by cheating……Madoff.) and they are the people who are responsible for the current crisis. In the War situation also many people lose their job, companies shut down, economies destroyed and people are distressed. Responsibility is fixed and guilty are brought to book. But this is a strange situation, where nobody is found guilty and whole world is suffering.

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