The main conference address was delivered by Mike Namie, Senior Compensation Consultant at Intel Corporation.
stressed the importance of communication as a means of enhancing employee perception of the value of stock benefits.
stressed the link between productivity, employee engagement and employee financial involvement.
also observed that a falling or stagnant company share price has created its own share of problems for management and participating employees.
The problems faced by Intel
are indeed shared nowadays by all too many corporates, many of whom have been faced with far more ferocious share price meltdowns.
But first, Mr Namie set out the history of stock benefits at Intel, a history which can be traced back to the firm's co-founder, Robert Noyce, a man who has been described as "the Father of Silicon Valley culture."
Says Mike Namie
: "Noyce left his previous firm, Fairchild Semiconductors, because management there did not want the employees to share in the proceeds of growth."
According to Mike Namie
had to ask itself the question: "Do broad based (stock) benefits - suited to growing firms - make sense for a company of Intel's
size and maturity?"
Enhancing employee knowledge can have a greater impact in improving peoples' perception of value than any change in the design of the benefits, according to Namie
"There is a need for more personalisation in our communications.
Training is too generic," he
CAN CONSERVE CASH
In response to a question from the conference floor, Mr Namie
admitted that Intel might well consider issuing stock, this year, as an alternative to a cash based pay increase to employees.