leadership

Topics: Change management, Executive compensation, Management Pages: 6 (1896 words) Published: June 3, 2014
Abstract.
Marshall & Gordon is a global Public Relations (PR) firm. The CEO, Kelly Browne is looking forward to put the final touches on a new strategy, a new compensation strategy that will include the use of Executive Positioning Projects (EPP). This paper aims to explore the challenges of this new strategy for the firm and its operations in general, with a specific concentration on the impact it has on the behaviours of the employees or workforce. More importantly, we discuss the behaviours necessary to support the new strategy at Marshall & Gordon. This is all part of the process of change in any organization and for this to happen, the firm needs to assess the various risks involved and the weight of the opportunity cost to be suffered. A section of this paper explains this concept in detail. Finally, the paper discusses the roles professional firms’ compensation systems play in helping to attract, motivate and retain talent. When employees are well compensated for the efforts they put into the organization, then they are highly motivated. And that will definitely lead to a higher organizational performance (Armache, 2012). Keywords: Public Relations, Executive Positioning Projects, Compensation Systems  

Public relations are the practice of managing the spread of information between individuals, organizations or the public. By the early 2000’s, Marshall & Gordon had established itself as major force in the PR sector internationally. It had acquired offices across the U.S, Asia, Europe and South Africa. The firm had undergone an era of success over the previous decade, however, due to the increasingly competitive industry; the firm had decided to explore other options to keep off its competition. Executive Positioning Projects (EPP).

So what is it all about? Why does Marshall & Gordon opt for this particular strategy and not any other one? EPP in summary is all about brand management in the public and in the eyes of parties that impact the prosperity of the business in general. Executive positioning is what protects the brand. We live in a very news-hungry world right now and for this reason, anything said or done out of order can actually cause a lot of problems towards the brand perception and business in general. So in essence, EPP is all about being familiar with the media and how to prepare for interviews and deliver the right message across the industry. Definitely this needs practice and training. Alternatively, years of experience in a related field can be an asset and this brings us to the reason Marshall & Gordon had decided to make two lateral hires for their San-Francisco based partner. Lu who managed that West coast region had a different idea however, because she felt the new hires were receiving too much in return for less contribution towards the business. This however, was the surface view of how the whole process was, because looking at the real insight reason they were hired, you can see that the intention was clear, to build a gap over other competitors by providing A-class public relations services from individuals with creditable experience and who have known the industry for a long time. This means, yes their impact may not immediate, however it would be lasting for a long time, just having that good brand name in the industry where everyone respects the business and the services provided. The new strategy was a good move, however, with it, along came challenges. Browne was at a complicated situation, just as it is for many change managers, why? Because implementing change is not always as easy as the plan may sound. Browne faces the need to role in this new phase of operations, however, at the same time she faces a challenge of keeping the current employees, managers especially, happy in their performance and work ethics. If people feel that inputs are fairly rewarded by outputs then they are happier and more motivated to work. However, if employees feel inequitable they tend to reduce...

References: Armache, J. (2012). Effect of Compensation and Other Motivational Techniques on Organizational Productivity. Franklin Business & Law Journal, (1), 88-96.
Backes-Gellner, U., & Pull, K. (2013). Tournament Compensation Systems, Employee Heterogeneity, and Firm Performance. Human Resource Management, 52(3), 375-398. doi:10.1002/hrm.21535
Chng, D., Rodgers, M. S., Shih, E., & Song, X. (2012). When does incentive compensation motivate managerial behaviors? An experimental investigation of the fit between incentive compensation, executive core self-evaluation, and firm performance. Strategic Management Journal, 33(12), 1343-1362. doi:10.1002/smj.1981
Shea, C. M., Jacobs, S. R., Esserman, D. A., Bruce, K., & Weiner, B. J. (2014). Organizational readiness for implementing change: a psychometric assessment of a new measure. Implementation Science, 9(1), 1-35. doi:10.1186/1748-5908-9-7
Spector, B. (2013). Implementing organizational change: theory into practice / Bert Spector. Boston: Pearson, c2013.
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