By Larry Emond, Managing Partner, Asia
As South Korea begins to boost its economy with a 17.3tr won (US $15.4 billion) stimulus package, all CEOs in South Korea have a duty to their companies, shareholders, and employees to achieve growth. Leading Gallup’s Asia business for over 20 years, during Asia’s boom and bust, and consulting with CEOs from local and multinational companies have taught me as a leader that stimulus initiatives to drive growth can reach their full potential only if they capitalize on an engaged workforce.
Eleven percent of South Korea’s working population in 2012 is engaged and committed to producing value, 23% is committed to destroying value, and the remainder is effectively checked out. My advice to every CEO in South Korea who aims to achieve growth in these challenging economic times is to look at the behavioral economic -- not just the economic -- aspects of your corporation:
- Make the metric of engaged-to-disengaged employees as important to your executive team as your stock price, revenue, and profit.
- Hire and promote only managers and leaders with innate leadership talent.
- Be clear and vocal about developing your leaders, and invest heavily in a succession plan to avoid a rudderless ship.
|(Gallup Managing Partner Larry Emond speaks at|
Global HR Forum 2013 in Seoul, South Korea)
Larry Emond will be speaking at the Global HR Forum 2013 plenary session “Successful Leadership by Global CEOs” in Seoul, South Korea.