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How about compensation based on achieving realistic goals?

Jun 13, 2013 Letters

 

 

Dear Editor,
The decisions made in Guyana, both by the Government and the Opposition, are often made with motives that support their own agenda. No one has the “ultimate truth” of what should happen or what should not happen. Has anyone wondered why we have “imminently” qualified doctors in our health system, yet as patients, we often go to another doctor for a “second opinion”. This is a natural phenomenon.
Having listened to the Right Honourable Dr. Ashni Singh says that the proposed Executive Chairman of GuySuCo is “imminently” qualified, should fall in the same category referred to above.  What the Minister is telling us, is that this person has the ability, qualification, experience, and technical know-how to turn GuySuCo around. Can the Minister then give us a few “bullet” points to justify his assertion? If he can do that, I would be willing to listen.
We then come to GPL. I read Christopher Ram’s recent comments, and as an Accountant, he has brought out some simple facts that any accountant should have known. I understand that the Prime Minister and the Chairman of the Board are not accountants, but I would have thought that they would have at their disposal, “imminently” qualified accountants to advise them.  Accountants ought to be very professional in their recommendations to management.
I agree that Professionals need to be compensated adequately for the services they perform. However, in the case of GuySuCo and GPL, the political appointment to the Board and Management seems to override every other consideration.  I do not object to these appointments, but the bulk of their compensation should be based on the performance of the company. There should be realistic targets that should be achieved before the rest of the compensation is paid.
I suggest that the Government look at DDL and Banks DIH, and learn from these companies. Their executives have a base compensation package, and added to their base pay is additional compensation based on the achievement of their goals. I believe that the executives of GuySuCo and GPL should have a substantial part of their compensation based on achieving realistic goals.
Charles Sugrim

 

 

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