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PublisherChartered Institute of Management AccountantsLevel 1, KPMG Tower8 First Avenue, Bandar Utama47800 Petaling Jaya, SelangorMalaysia

T. +60 (0)3 77 230 230F. +60 (0)3 77 230 231

www.cimaglobal.com

eDiTOriAlEditorChan Siew Lian

WriterAnna Rozana Ramli

Design & Layout

Ireka StudioE-5-06 Neo Damansara Jalan PJU 8/1, Damansara Perdana 47820 Petaling JayaSelangor Darul EhsanMalaysia

E. [email protected]

PhotographyMeor Mazlan

COrPOrATeRegional Director SE Asia and Australasia: Irene Tengirene.teng@cimaglobal

Head of SE Asia: Venkkat [email protected]

MARKETING AND CoMMuNICATIoNS

Regional Marketing Manager: Choong Kok LeongManager: Chan Siew LianExecutive: Anna Rozana Ramlioperations Assistant: Meor Mazlan

Send your comments and feedback to:[email protected]

Contents

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FEATuRE

EDIToR’S PICK

RECoMMENDED ARTICLE

Making his own luck

Beyond thinking out of the box

Managing innovation

Innovation checklist

Employers worry about top employees taking their talent elsewhere

Thivanka Rangala, the Vice President of Regional Development at Axiata has an infectious smile and carries himself in a very carefree and approachable manner. With over 15 years of experience in the telecommunication industry, he shares with us his passion for life, why he thinks he is one of the luckiest men in the world and how CIMA helped him to be the successful man that he is today.

Around the world and backThivanka believes that he had a fortunate start in life by being exposed to many cultures and a diverse education system during his early years. Although he was born in Sri Lanka, his family moved to Nigeria and later to London where he completed his primary education. He admits that his exposure to diverse cultures has led him to be open minded, embracing new interests readily while still maintaining the unique aspect of the Asian culture which he is very proud of.

He was never one to bury his nose in books but yet preferred to listen and understand what was taught instead. He is more of a utilitarian in nature. He still continues to use this method of understanding things to this day. By the time he completed his secondary education, he knew that he was interested in business and management. His first taste of employment was in a tea company, the largest in Sri Lanka. His first post was as a junior accountant and he still remembers his enthusiasm about the position. As months passed by, he realised that

FEATuRE

Making his own luckIt would not be difficult to spot THIvANKA RANGALA, the Vice President of Regional Development at Axiata, from afar as his online photos bear an uncanny resemblance to how he looks like in real life.

3Inspire

although he was good at numbers and carried out his role well, he wanted to do more than just churn out numbers. He wanted to be able to help in the running of the business. It was then that he decided to take CIMA which was and still is a household name in Sri Lanka. He felt that CIMA was the perfect qualification for him at that time as it gave him the opportunity to learn more than just basic financial accounting. It gave him the knowledge that he craved in law, business and also IT; basically the management side of things. As an icing on the cake, CIMA was structured in a way that allowed him to work and study at the same time, a point that was very important to him as he wanted to be able to earn and be independent while still building his future by investing in a world class education.

New opportunities and realising dreamsHe enjoyed studying CIMA as it complemented his role perfectly. This was evident after he received an award for the ‘Best Business Manager of the Year’ which is for top performance. The award opened many more doors of opportunity for him as he was offered to do a course in INSEAD. He was over the moon as it was indeed an offer

not to be missed. By that stage Thivanka was already holding a high position in Dialogue Telecom, Sri Lanka’s biggest telecommunications provider. But before he embarked on his journey in INSEAD, he decided to complete his MBA at the University of Western Sydney. He completed his MBA and the INSEAD programme whilst still attached to Dialogue. Working and studying at the same time was not easy as it required a lot of effort and focus but he is thankful to be blessed with mentors along his career and education who fueled his passion and need to better himself. He admits that perhaps his path would have not been as smooth sailing if not for these inspirational individuals in his life. Individuals whom he still keeps in touch with up to this day as such bonds are very important to him. He does not believe in burning bridges but maintaining friendships and working relationships.

In moving from Dialogue to Axiata in Malaysia, two different portfolios were entrusted to him - investor relations and finance. He was confident of his ability to hold such diverse portfolios, thanks to the strong foundation acquired from the CIMA qualification. He finds the CIMA qualification has enabled him to have a sound understanding of how businesses

‘Life is what you make of it. You can choose to be negative and crumpy or you can choose to be positive

and approach life with a smile on your face.’

4 Inspire

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work and is a nice middle ground from being a hardcore number cruncher to a businessman. From a management’s point of view, CIMA is something he will never regret embarking on. The knowledge that he has obtained helped him to understand and apply practical decisions in his daily job. Issues at hand become clearer and solutions are derived easily and readily. He enjoys the responsibilities given to him and firmly believes that both portfolios actually complement each other in more ways than one can imagine.

First loveBeing offered a position in Axiata Malaysia was hard to resist and it would not have been possible without his family’s support, most importantly his wife. He could not believe his luck when without batting an eye, she willingly left her high flying career to be with him in Malaysia. His children were also very upbeat about the move. Malaysia felt almost like home to him and his family as it shares similar values and cultures, not to mention the amazing food which he thinks he over indulges in. Thivanka’s expression changes when he talks about his family. One can almost feel the warmth of his love for them as he talks about his close relationship with his two daughters. He believes that parents should not only take on the opportunity to guard and love their children but to also be their best and closest friends. He thinks it is important to earn their trust and love at a young age as if you don’t, parents may find that such connections will be lost forever. This is another reason as to why he feels he is one of the luckiest men in the world – a loving and supporting family who have sacrificed a lot for him to be as successful as he is today. He admits that his favourite part of the day is going home to his family after work.

Being the youngest boy in the family of two sons, he is still very close to his elder brother as he was in their younger days. His brother, a successful businessman, has settled down in Dubai and they find time to visit each other whenever they can. Their father also stays with each of them from time to time as their mother has passed on. Thivanka feels fortunate that he has such

supportive parents who loved and appreciated him and gave him encouragement in everything that he wanted to pursue.

When he is not helping businesses and people to succeed, he has an underlying passion for driving and diving. So much so that he has recruited his daughters to join him in his passion for driving. He is delighted that he can share his interest with them. He makes it a point to take his family on driving escapades whenever he can. The most important thing to him is being able to spend time with his family. It could be as simple as reading a book together or just having a good laugh by the pool.

A slice of lifeDespite acknowledging and being thankful that he is very fortunate in life, he said ‘I believe that success comes to those who work hard and focus on what they want in life.’ Good things and success do not come easily. He advises that the youth of today should make wise choices on what would benefit them most in life such as what the CIMA qualification did for him. He also believes that life is what you make of it. You can choose to be negative and grumpy or you can choose

‘I believe that success comes to those who work hard and focus on what they want in life.’

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to be positive and approach life with a smile on your face. Along the way he has learned that by appreciating people, they will in turn appreciate you and this will help everyone to achieve success in the end. He said, ‘Credit should never be taken from those who deserve it as your team is what makes you a leader. If you are not good at leading and supporting your team, then it will reflect in their job performance.’ Everyone should always support and encourage each other to succeed.

Like all things in life, he believes that there should be a balance in everything that you do, be it in your personal life or career. A good balance of knowledge and skill will help propel you further in life than just learning one specific skill. It enables you to become a balanced and all rounded individual.

Future aspirationsTalking further on expanding his horizons, he is especially pleased with the Chartered Global Management Accountant (CGMA) designation which is already a year old since its launch in late

January last year. He feels that this is a great opportunity for CIMA members to venture and explore bigger opportunities on a global scale. He felt that prior to the CGMA, it was quite a challenge for finance professionals to break into the American market but now it is possible for CIMA members to gain wider exposure and recognition. He said that there has never been a better time to become a management accountant than today as it will mean greater things for the future.

Thivanka breaks into a wide smile when asked on his future plans. He thinks there is still much to do in Axiata and hopes to be able to contribute more for the company. He is also thinking of pursuing his PhD in the near future but would like to see his lovely daughters complete their secondary education first before embarking on yet another exciting journey of his own. Ultimately he looks forward to better things in life for his family and his career.

‘Credit should never be taken from those who deserve it as your team is what makes you a leader. If you are not good at leading and supporting your team, then it will reflect in their job performance.’

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Beyond thinking out of the box

Never judge a book by its cover, they say, and indeed that’s the first thing you will think of when you meet her in person. Boonsiri, or fondly known as Boon, sports a chic haircut and can be mistaken for a 30 year old. However after she starts telling her story, one cannot help but be inspired by her charismatic nature.

A leader is bornBoon grew up in Kedah, where she spent most of her days lazing in the sun next to the lush paddy fields and catching fighting fish in the monsoon drain near the village in which her family resided. She remembers that scene as her favourite part of her

How one lady triumphed against all odds. BooNSIRI SoMCHIT oNG, the vice president for finance at Advanced Micro Devices (AMD) Global Services Malaysia shares her passion on work, life and how being a woman makes her a better leader.

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childhood, being outdoors with her friends as she was not one to bury her face into books. Her parents were simple people but she values and appreciates their passion and determination in life. They were always there for her and guided her to believe in herself.

Boon went on to continue her studies in Tunku Abdul Rahman College where she pursued Management Accounting and passed with flying colours. She understands that many find the CIMA qualification challenging but she enjoyed it as it was practical, easy to comprehend and could be applied in real life situations. The key to understanding the CIMA paper was to imagine real life scenarios and think of the best ways to achieve the best outcome for these scenario. She said ‘CIMA helped me to look at a process, analyse it, break it down and somehow figure out a way to simplify and standardise it to improve efficiency and effectiveness.’ To her, language was more of a stumbling block than the actual CIMA subject itself. Although being multilingual and fluent in the local Chinese dialects, Thai and Malay, her competency in English was rather poor compared to her urban colleagues at that time but that did not dampen her determination to master the language. She strongly emphasises the importance of being able master a language, English in particular, as it is the key to learning. She believes that everyone, especially students of today should not be embarrassed by their low competency levels in English and draw away from the language but instead they should force themselves to practise using the language as much as they can. Mistakes will be made from time to time as it is part of the learning process but with mistakes comes improvement. Boon emphasises this point every time she is invited to speak and motivate students. She admits to giving the same advice to her team.

A woman who dared to dreamComing from a close knit family, the thought of not having a family of her own never crossed her mind. She knew

that she wanted to settle down despite her growing need to realise her dreams in the corporate world. Her family still remains as her number one priority and she believes that every person needs to be able to make a clear choice on the path that they choose in their lives and stick with the decisions that they make. She admits having a family may have influenced her career path to a certain extent but she has never regretted the choices that she has made.

After graduating with a CIMA qualification, she began her career with Motorola and later on moved to KOMAG, each time delivering outstanding results for these organisations before joining AMD in 1997 as a plant controller. A few years later she led the way in establishing the first Finance and Accounting shared services organisation for AMD supporting all of Asia and also implementing the ERP system for AMD globally. Under her leadership AMD has grown beyond manufacturing and has created other outstanding entities such as AMD Global Services, with operations in Penang and Cyberjaya.

She admits to facing challenges in her career path as a woman working in a male dominated profession. She has encountered managers and directors who found it difficult to promote her due to the fact that she was a woman but she did not bow down and proved to them, and most importantly herself, that commitment and working smart pays off. She says that Management Accounting has taught her to solve problems by looking at them as clusters of issues rather than one big black hole of problems. This has helped her solve each issue at hand objectively and produce positive results in the end. She says there are no problems that cannot be solved. It’s just a matter of how you look at them.

Boon believes that becoming a leader means that you need to be responsible towards your team. She said, ‘You must be able to bring the best out of your team.’ This involves a lot of communication and understanding.

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Respect cannot be bought but it must be earned, and every team member must be respected and appreciated. In this way your team will feel empowered and give the best that they can offer. Compassion, empathy and commitment are very important qualities that need to be present in a leader in order to guide his or her team to succeed.

Striking a balanceAt this stage of her life Boon feels that her need to coach and nurture is stronger than ever.Thus she is now involved in many programmes and is a regular speaker representing CIMA for various organisations in promoting success and inspiring others to reach their full potential. Although many would have a role model to look up to, Boon says she does not have one but instead she is inspired by different people whom she has worked with throughout her life as there is always something to learn from each and every person that you meet.

On a more personal note, Boon is glad that she has more time for her family now. She makes it a habit to spend time at the gym with her husband every day. Apart from keeping her healthy, it helps her maintain a healthy and positive attitude outlook on life. She does not believe that anyone should lose their temper or have a bad attitude especially during work as it has a negative impact on a person’s morale and motivation.

Boon loves to cook for her family and reinforces that sitting down to enjoy a meal together is vital to build strong ties within a family. She smiles as she mentions that her specialty is a chicken based Thai dish that is a must almost every week in her household. Her family also loves to travel and go for outings together. She cannot imagine a life without her family by her side.

‘You must be able to bring the best out of your team. This involves a lot of communication and understanding. Respect cannot be bought but it must be earned, and every team member must be respected and appreciated.’

Inspire10

Good things to comeHer role at AMD requires a lot of travelling and she is always on the move. She frequently travels to the AMD headquarters in the United States. Last year, after the launch of the Chartered Global Management Accountant (CGMA) designation, she was surprised that many of her counterparts in the US recognised her from the CGMA website. She is very proud to be one of the faces to represent CIMA for the CGMA designation. The CGMA designation has been impactful for her as she is now recognised not only in her organisation but by many others in the US. This has opened a floodgate of opportunities for her to help her organisation to be even more successful.

Looking back, the CIMA qualification has taken her far; she said, ‘It has helped me develop a set of skills that has been invaluable in my career whether as a product analyst, a GL accountant, a section manager, a plant controller, a finance director or now as the head of a Global Shared Service organisation.’ CIMA has also instilled in her the desire and passion to drive change, to question how and why things are done in a specific manner or otherwise, and whether certain processes can be automated. She believes that the younger generation should take this opportunity to invest in a CIMA qualification as it gives them an unlimited access to opportunities globally.

Boon looks forward to further expanding her career path meeting future exciting challenges as a management accountant and coach, while balancing her roles as a wife and mother.

‘Compassion, empathy and commitment are very important qualities that need to be present in a leader in order to guide his or her team to succeed.’

‘CIMA has helped me develop a set of skills that has been invaluable in my career.’

EDIToR’S PICK

11Inspire

Innovation is the key to sustainable business success in today’s fast-paced, volatile and uncertain world. Companies that can nurture the creativity necessary for innovation, and then finance and implement their ideas efficiently, are more likely to succeed in the long term.

There are few innovations, or innovation-led organisations, that are truly successful without the input and influence of management accountants and the finance team. Whether shepherding new ideas from concept to commercialisation, or considering the risks associated with differing choices, finance can play a vital enabling role. This role parallels the evolution of the finance function towards a more strategic focus — and as such represents an opportunity for finance professionals to reposition themselves within the business.

Management accountants work across many different sectors and organisational contexts, with varying degrees of input, but this report evaluates five key areas where they can help support a more innovative business.

Managing Innovation

MANAGING INNOVATION – Harnessing the power of finance4

4. Match metrics to the stage of development Companies must beware of the dangers of trying to apply the firm metrics used in business operations to early stage innovation. A phased, or staged, process gives an innovative idea room to breathe, and limits downside financial risk, while also providing organisations with a structured approach to evaluating innovations. Finance can add immense value by creating the “stage gates” for innovation, through which each idea can be challenged and refined to prepare it for the next stage of investment1.

5. Take a balanced view on risk across the innovation portfolio Companies increasingly employ a portfolio of strategies to drive innovation, reflecting the discipline’s multifaceted nature. Management accountants should seek to create an opportunity framework that promotes clarity, transparency and discipline across the total portfolio of innovation projects. Companies that excel in this realm of portfolio management are often the most successful businesses in the world – even if in reality a lot of the ideas they bring to market are bought in from outside.

As these points show, supporting innovation requires finance professionals to develop strategic skills alongside their functional competencies. It entails proactively supporting the innovation strategy and managing the associated risks. These are areas for which management accountants’ training equips them – but learning how to adapt those skills to different stages in the innovation cycle can be a considerable challenge, even for the most experienced finance professionals.

supporting innovation requires strategic skills alongside functional

finance competencies

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3

exeCuTIve suMMAry

There are few innovations, or innovation-led organisations, that are truly successful without the input and influence of management accountants and the finance team. Whether shepherding new ideas from concept to commercialisation, or considering the risks associated with differing choices, finance can play a vital enabling role. This role parallels the evolution of the finance function towards a more strategic focus — and as such represents an opportunity for finance professionals to reposition themselves within the business.

Management accountants work across many different sectors and organisational contexts, with varying degrees of input, but this report evaluates five key areas where they can help support a more innovative business.

1. Create an innovation mindset Finance needs to transform itself into a business partner that can help innovation teams succeed. Change starts at the top: a CEO must set the vision, but a CFO has a vital role in setting the framework in which innovation can thrive. For a business to learn, sometimes senior managers need to accept that individual projects may fail if the overall strategy is to succeed – something which can be anathema to finance professionals steeped in the art of risk mitigation. Promoting an innovative culture throughout the organisation, where thinking goes beyond the status quo, can deliver tangible results and enhance competitive advantage.

Innovation is the key to sustainable business success in today’s fast-paced, volatile and uncertain world. Companies that can nurture the creativity necessary for innovation, and then finance and implement their ideas efficiently, are more likely to succeed in the long term.

2. Nurture creativity There can be a clash of cultures between those responsible for coming up with ideas and the finance professionals who are the guardians of financial integrity and rigour. Distrust is exacerbated when early-stage ideas are prematurely tested against traditional financial metrics, before an idea or project can evolve. More sympathetic approaches can help, such as the creation of ring-fenced budgets with more relaxed criteria for early-stage innovations. Above all, finance must work in an environment where uncertainty is part and parcel of the process.

3. Prepare the path to profit Innovation is not an end in itself. Finding the path to profits when an innovation moves towards implementation is a core requisite capability of management accountants. Building cash flow models, advising on financing approaches, understanding costs and allocating resources are just some of the many ways in which management accountants can bring rigour to the process of commercialising ideas. Finance can also be a valuable partner of innovation teams – for example by helping build a more robust business case to gain further backing.

Innovation is not an end in itself

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l Create an innovation mindsetl Nurture creativityl Prepare the path to profitl Match metrics to the stage

of developmentl Take a balanced view on

innovation with risk

EDIToR’S PICK

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Favour judgement over modelling

Idea generation

Enab

le in

nova

tion

Ma

nag

e ri

sk

Idea selection Investment phase Launch Post-launch

Separate finances for innovation from those for core business

Define, understand and communicate corporate risk strategy

Adopt portfolio approach to risk, balancing range of short- and long-term opportunities, and spread of odds

Embed finance managers for decision support

Scope the opportunity

Assess potential ROI

Constructively challenge assumptions

Prepare the business case

Advise on financing options

Optimise business plans

Set and monitor financial and other targets

Ensure rigorous project management discipline

Evaluate, measure and monitor performance against financial and other targets

Work closely with product and marketing teams to finance the right launch activities

Promote culture of risk tolerance

Assess and quantify the risk-reward trade-off

Ensure risks being borne meet strategic criteria

Manage operational risks surrounding launch

Manage risk exposure across the revised product or service portfolio

EDIToR’S PICK

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Create an innovation-centric mindset Ensure your CFO is actively engaged with the

business and helping to drive innovation.

Consider how your company’s financial management processes – including reporting cycles, remuneration and KPIs – can be structured to support innovation and not hinder it.

Structure your incentives and performance measures to reward innovation and promote an appropriate risk appetite.

Consider adopting a portfolio approach to innovation, combining organic innovation with openness to external ideas.

respect and nurture the innovation process Understand where good ideas come from in

your organisation, and how finance can help that process.

Learn to balance good financial management and discipline with the uncertainties inherent in innovation.

Encourage finance professionals to move around the business and gain exposure to the innovation process.

Balance the freedom to experiment with the right checks and balances once the innovation has reached an appropriate stage.

Help your business plan the path to profits Check that you have the tools to model the impact

of a product or idea in various markets and against a range of scenarios.

Understand your wider organisational strategy and where your company gains its competitive advantage.

Embed financial professionals in the innovation process to help build the business case for upcoming ideas.

Proactively advise on different options for funding business proposals.

Apply the right metrics at the right stage of development Consider using an appropriate stage gate

process to allocate budgets, targets and metrics on a phased basis.

Help quantify and assess the results, successes and failures of innovation across the organisation.

Incorporate a blend of quantitative and qualitative measures to help assess the progress of ideas through your innovation funnel.

Take a balanced view on innovation risk Ensure that your risk appetite is reinforced by the

company’s governance structure, risk and reward structure, and reporting cycles.

Ensure your risk strategy helps identify innovation opportunities as well as threats.

Consider the soft risks of not innovating, as well as the hard risks of innovation.

Consider adopting a portfolio approach to risk, balancing more and less risky innovations over various timescales.

INNOVATION cHecklIST

13Inspire

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RECoMMENDED ARTICLE

Employers in some industries are having a hard time finding the right people to fill vacancies. Increasingly, they’re fretting about keeping the key talent they have. As the economy improves, organisations that are looking to grow or restock their ranks will compete aggressively for top-notch employees – and that could prove costly for companies that don’t have retention strategies.

That’s according to Retention of Key Talent and the Role of Rewards, a survey of 526 human resources professionals from a variety of industries released this month by WorldatWork, a nonprofit that focuses on compensation and benefits.

Fifty-six per cent of respondents said that the retention of key talent – employees who are the strongest performers, have high potential or are in critical jobs – has become more difficult in recent months, and the same percentage said they expect top employees to search for better jobs as the economy improves.

Retention is now a major concern of senior management, the majority of respondents (65%) said. About half (51%) of the survey respondents are confident their organisation can retain key talent as the economy improves.

Companies that have retention programmes tend to keep key talent by offering above-average pay and benefits such as flexible scheduling, the survey showed.

Most companies have such retention plans, but their effectiveness varies. Seventy-four per cent say identification of key talent is the most effective step. Offering pay above the labour market (73%), allowing flexible hours or telecommuting (69%) and discussing future opportunities with the key talent (67%) also ranked among the most effective strategies.

Employers worry about top employees taking their talent elsewhereby Neil Amato

The survey also addressed the reasons employees leave:

l More money at another job (32%).l Lack of promotional opportunities (24%).l Feelings that pay levels are unfair relative to others

outside the company (21%).l Workloads are too heavy (19%).l Work-life balance issues (19%).l Concerns about the direction of the organisation and

its leaders (18%).l Feelings that pay levels are unfair relative to the

employee’s performance and contribution (17%).l Lack of training and developmental opportunities (17%).

As the global economy has limped along, employees have become more frustrated because, even if they retain their jobs, layoffs have made their work more difficult and, in some cases, reduced benefits, such as a 401(k) match, the report says.

Long term, talent shortages could limit companies’ ability to expand and compete, the report says, as a result of older workers retiring, increasing specialisation and technical demands of jobs, global competition for talent, and education systems not keeping up with business demands.

Related CGMA content:

l Shortage of talent is a top concern worldwide: Despite a large pool of educated people, CEOs say finding the right talent is a major concern.

l Positive reinforcement leads to positive retention results: Demonstrations of appreciation by managers are a significant factor in keeping employees from wanting to leave their jobs, a survey says.

l COLT/CORT tools address an urgent need to measure the cost of losing and replacing talent.

RECoMMENDED ARTICLE

Kimberly Reidy - Zumdieck

I agree that talented employees are not all motivated by the same thing. However, I think talented employees are more apt to leave if they see their boss as incompentent in running the business and do not consider utilising the talent within the company to help run the business. Bosses that try and make all the decisions disregarding those working for them may find themselves running a failing business. Additionally not respecting their employees has a negative impact as well.

oliviaEspinoza-Riley

Talented employees are frustrated by management decisions that recruit managers without the proper background and knowledge to do the work. It seems some hiring decisions of underperforming managers is influenced by personal preferences rather than the needs of the organisation. Usually, the employees are asked to make concessions and to find a way to make things work for the best.

Suppiah Subramaniam

I am of the view that top talent also leaves an organisation when they do not enjoy an amicable working relationship with their superiors as at times superiors do become a hindrance to talented staff rather than being supportive and encourage them in pursuit of knowledge and skills.

CGMAs give their feedback to the

article

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John Bond

Good article

This represents reality. A lot of organisations have to cut back on resources to survive and save costs in the current climate. As a result, employers place greater reliance on key staff to undertake more tasks, with little reward.

Key employees believe they are treated unfairly with additional work and no recognition. Yes, we are lucky enough to be in employment however there needs to be balance. The threat of key employees growing increasingly frustrated by the lack of opportunity with additional workloads will ultimately force these staff to look elsewhere. Intellectual property will follow if other employees cannot fulfill key employee roles if / when they move on.

Manuel Munoz

If inner mobility is limited because of politics, cronyism, nepotism, etc., talented staff will leave. Employers who do not “grow their own” can of course hire outside talent. These outside hires are usually paid higher but termination rate is also high. Thank you’s can only go so far. Hardworking employees also need rewards, monetary or otherwise.

From AICPA and CIMAcomes a new global designation.

The American Institute of Certified Public Accountants and

Chartered Institute of Management Accountants proudly

announce the creation of the Chartered Global Management

Accountant (CGMA) designation, to elevate the profession of

management accounting.

Demonstrating management accounting expertise, determination

and commitment to achieving sustainable business success,

CGMAs are trusted by businesses worldwide to guide critical

decisions and drive strong performance.

CGMA delivers the financial expertise companies demand.

And the performance excellence they deserve.

Find out more at cgma.org

17Inspire

Chartered Institute ofManagement Accountants

Level 1, KPMG Tower8 First Avenue, Bandar Utama47800 Petaling Jaya, SelangorMalaysiaT. 03 77 230 230F. 03 77 230 231E. [email protected]


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