An extraordinary story from Singapore.

Singapore Prime Minister Lee Hsien Loong's pay will fall 19 percent to S$3.04 million ($2 million) next year as the government slashes civil-servant wages in response to the deepening global financial crisis.

Wages of new ministers will fall 18 percent to S$1.57 million next year, and members of parliament will receive S$190,000, a 16 percent reduction, the government said in a statement late yesterday.

Somehow, we doubt that this will catch on elsewhere, where the public sector appears to be miraculously recession-proof.

Amid the chaos and turmoil on the financial markets, here's a real surprise. AIG's just-departed Chief Executive Robert Willumstad, who was replaced as part of the US Treasury's rescue of the insurance giant, has rejected the $22 million severance payment he is entitled to.

According to Reuters, "Willumstad e-mailed his successor, Edward Liddy, of his decision to forego the severance since he was not able to execute the restructuring plan he had developed".

"I prefer not to receive severance while shareholders and employees have lost considerable value in their AIG shares," Willumstad wrote in the email.

Sage words from Peter Cappelli director of the Center for Human Resources at the Wharton School of Business, writing on HRE online.

Extraordinarily callous and inept management, combined with huge rewards for success and incentives for hiding failure, are some of the typical attitudes exhibited by financial institutions, many of which have been collapsing.

. . . . If there is anything good that comes out of the crushing failures of these investment institutions, it should be to question seriously the notion that rewards for individual performance are a substitute for good employee management.

The sort of aggressive, grow–at-any-cost leadership epitomised by the suddenly vilified Richard Fuld looks likely to be another casualty of this week seismic events on the financial markets? And a good thing too.

Because while Fuld and his ilk were busy owing the seeds of their own destruction, another American banker, Eric Daniels, CEO of LloydsTSB, was steadfastly holding out against pressure to join the herd and turn a UK high street bank into an aggressive, acquisitive, international financial services colossus.

As a result of focussing only on what Daniels insisted was "sustainable growth", LloydsTSB went from being the UK's biggest bank as recently as 1999 to number five in the rankings this year.

Meanwhile, HBOS (the result of the merger between the Halifax building society and Bank of Scotland), appointed a 38-year old with a background in retail, rather than finance, as CEO and set off to reinvent itself as the sort of outfit that wouldn't look out of place on Wall Street.

The trouble was, as Chris Blackhurst explains in the Evening Standard, " many of those at the top had no idea what those below were up to."

As a result of which, a company that proudly offers on its website "links will help you find out more about our history, archives and cultural heritage, stretching back over 300 years" is no more, leaving some 70,000 staff with an uncertain future.

As the Telegraph puts it the tortoise has well and truly beaten the hare. Let's just hope the tortoise doesn't choke on the aftermath.

What's the difference between leadership and management? And what makes an effective business leader? These two perennial questions have generated a staggering volume of discussion over the years, but little that is more pertinent than these two absolutely essential posts on Bob Sutton's blog [specifically here and here].

"To do the right thing", Sutton argues, "a leader needs to understand what it takes to do things right". In other words, they need to have real hands-on experience in the industry along with years of experience doing, managing, and succeeding at the kind of work their people do. Just coming up with grandiose strategies and leaving the detail of how to actually implement them to others (what Henry Mintzberg termed "management by deeming") is a recipe for failure.

I am not much rejecting the distinction between leadership and management, but I am saying that the best leaders do something that might be most properly called a mix of leadership and management (a great example is HP CEO Mark Hurd) , or at least, lead in a way that constantly takes into account the importance of management. And some of the worst senior executives use the distinction between leadership and management as an excuse to avoid learning the details they need to understand the big picture and to select the right strategies.

Of course, this kicked off quite a debate on the whole management/leadership dichotomy, including this comment from Michael Maccoby.

I think we should differentiate leadership which always involves a relationship as contrasted with management which has to do with processes and systems. Yes, leaders should understand management. However, management doesn't always need a manager.

"Management doesn't always need a manager". Now there's some food for thought!

Let's talk about intuition for a moment. It's something that's easy to dismiss as 'flaky' that has little to do with the business world. Yet everyone has had an experience that they could not explain, a bit of serendipity, a hunch. And whether they admit it or not, many successful entrepreneurs rely on it. So if your intuition has not served you well, you're probably just not tuned into it.

If you're curious to find out more about intuition - and, lets face it, what do you have to loose by doing so - have listen to the latest Evolutionary Provocateur podcast here on Management-Issues as Dawna Jones talks to with Dr. Rollin McCraty, research scientist with the Heart Math Institute.

He reveals the results of a study that illuminates the role the heart plays in processing intuitive information and demystifies exactly how that information is conveyed.

At a time when decision-making is increasingly complex, rapid, with either not enough or way too much information, his findings provide a framework for understanding how the gift of highly energy sensitive people and the occurrence of random flashes of 'knowing' create a powerful and reliable tool – that is, if you are aware enough to know what you place your trust in.

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An interesting fact to emerge from the "2008-2009 WorldatWork Salary Budget Survey," which quizzed more than 2,700 organizations representing 13.6 million North American employees, is that teleworking has soared in popularity the U.S. and Canada over the past 12 months.

In the U.S. the proportion of organizations saying they offer teleworking to employees has risen from 30 percent in 2007 to 42 percent in 2008. In Canada, the increase was even more significant, from 25 percent to 40 percent.

Of course, how many staff actually take up the opportunity to work remotely is a different question entirely, and one the survey doesn't address. More significantly, while high gas prices are clearly a major factor in the increase in remote working, will the economic downturn push people back into the office (for fear of the perceived damage working remotely might do to their careers) or make it an even more attractive option? Check back in 2009 to find out.

Are people at the heart of your organisation? Do you think you're a good employer? If you're sure that you are and you're based in the UK, then why not enter Best Companies Accreditation or The Sunday Times Best Companies to Work For Competition.

The Best Companies Accreditation is widely regarded as a leading benchmark of workplace engagement and the prestigious Sunday Times Best Companies to Work For Competition is now an Institution in its own right.

Organisations interested in taking part can register immediately by visiting www.bestcompanies.co.uk or call Best Companies on 01978 856 222. Registration closes on October 31st 2008.

Announcements of Accreditation successes will be made in January 2009 and The Sunday Times Best Companies to Work For competition winners will be announced next March.

One of Toyota's senior car engineers died from working too many hours, a Japanese labour bureau has found.

According to the BBC, in the two months leading up to his death, the man averaged more than 80 hours of overtime per month, regularly worked nights and weekends and was frequently sent abroad.

Little wonder that the Japanese Fukuoka Heart Study Group has found that working over 60 hours a week and missing out on sleep can as much as double the chances of a heart attack for the 40+ age group, with sleep deprivation and lack of rest in the very recent past acting as triggers.

The same researchers argue that the optimal working week is a maximum of 40 hours, as both long hours and lack of sleep on their own are enough to increase the risks of heart attack.

In the latest podcast for graduate job-seekers from workplace engagement specialists, Best Companies, Wayne Turmel talks to Paul Farrer, Chairman of the Graduate Recruitment Company, about the possibilities and pitfalls around applying for that all-important first post-university job.

The key, he says, is to create a positive first impression. Understand that job-hunting is a process that must be planned for. If you've identified the organisations and roles you want to apply for, make sure customise your application to that job rather than firing off a generic application.

The most common mistake graduates make, Paul says, is not knowing their own CV. Oh, and leave your mother at home.

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The complete set of graduate podcasts are now available online here.

If, like me, the phrase "Our people are our most important asset..." makes you cringe because you know just how empty, meaningless and normally downright untrue it is, then bookmark (or frame) this post from Roberta Matuson's excellent new(ish) blog, Generation Integration.

She lists five reasons why she hates the phrase, but I'm sure we can all think of a few more.

Companies are willing to spend whatever it takes to market their products and services but are unwilling to make similar investments in their people.
1. The blame for discontented employees is always placed on the employee.
2. Everyone is replaceable.
3. We value your opinion, as long as it agrees with ours.
4. You have a place in our company as long as you don't make more than "X."

Can you even name 10 companies where this is actually true? she asks. Well, I probably can – but none of them with more than 10 employees or partners, and none what you might call "conventional" businesses.

Last week we talked about this podcast from workplace engagement specialists, Best Companies, which explained some ways that new graduates can find companies that fit their goals and offer real career development opportunities.

But finding that first job is only the beginning. The next challenge is to make that job a success – those vital first 100 days. So what are the things new employees can do to help - or hinder- their careers just as they are getting started?

That's the big question our own Wayne Turmel asks in this podacst with Penny De Valk, CEO of the UK's Institute of Leadership and Management.

They explore some of the reasons graduates have trouble fitting in at their first job and how they can develop those oh-so-important "soft skills" which might not have emerged during the formal education process. Well worth a listen.

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If you spend eight hour a day or more chained to your desk, beware. Because a study by researchers in the UK and New Zealand has found that people who sit at their desks for more than three hours at a time without stretching double their risk of developing potentially-fatal deep vein thrombosis (DVT).

questioned 200 patients who were admitted to hospital for either blood clots or heart problems and compared how long each group had remained sitting, both in total and in one period without getting up.

Prof Richard Beasley, from Wellington Hospital, New Zealand, told the Daily Telegraph that the risk of developing blood clots through prolonged seated immobility was largely unrecognised. But the study suggested that it is at least as important a factor as long-distance air travel.

"It is similar to the situation with the risk of blood clots with long-distance air travel – it was not until there was research into its role that the real extent of the problem was appreciated.

"Both the maximum time seated at work during a 24-hour period and the maximum time seated without getting up were associated with an increased risk of VTE."

He added that anyone who sits at their computer for most of the day should do the same leg and foot exercises, such as flexing the ankles, that are recommended during long-haul flights. They should also take regular breaks away from their desk to walk around.

Nothing is more important to the new graduate than finding that first position and using it as a launching pad for a fulfilling professional life. With all the changes taking place in business, finding a company that offers opportunities for ongoing development is crucial.

Which is why this podcast from workplace engagement specialists, Best Companies, is so useful. In it, Wayne Turmel talks to Jo Causon, Director of Marketing and Corporate Affairs for the UK-based Chartered Management Institute about how to find companies that fit your goals and how to identify those development opportunities.

The podcast looks at what do new graduates need to consider in finding the perfect cultural fit and how they can use professional development strategically to further their career, even at this early stage.

So how do you spot companies that will offer these opportunities? Listen to find out.

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Fewer than half of all new Graduates last two years at their first job out of college. So how can you ensure you find an employer that is a good fit with your personal and professional objectives?

This podcast, hosted by our own Wayne Turmel, has some great advice.

In this podcast for Best Companies,Wayne talks to Steve Huxham, Chairman of The UK's Recruitment Society, about the key to finding the right fit. The secret? Ask lots of questions.

According to Steve, the biggest mistake newly-minted graduates make when seeking that critical first job is to forget that interviewing is more than simply answering questions. It's also a chance to ask them as well.

So how do you determine whether a company is a good fit? On way is to ask the company to describe the culture, ask your interviewer about their personal experience at the company. For other specific questions to ask, check out this.

Finally, Steve says, its important that graduates do their research before going for an interview. They need to look like they're prepared and remember that they've got one goal for the interview now that they've gotten this far - to land that job.

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Listen to it using the player here

With British Airways reeling from one of the biggest corporate PR disasters in history, it's worth mentioning just how much impact social media had on the Terminal 5 catastrophe.

So if you still think that your organisation can ignore You Tube and the like, perhaps it's time to think again...

Here's an example from the 28 or so Terminal 5 videos posted on YouTube

Here's a wonderful life-and death story with a difference which underlines that however hard you try to achieve something, it can often be impossible without good communication.

And luckily for the protagonists involved, Moko the dolphin obviously speaks whale.

Malcolm Smith, a conservation office in New Zealand, had been working for over an hour and a half to save the two pygmy sperm whales which had repeatedly become stranded despite his attempts to push them back out to sea.

Just as his thoughts turned to a tragic outcome, a bottlenose dolphin, named Moko by locals, appeared on the scene…..

Smith said Moko arrived on the scene and he could hear the whales and the dolphin making noises, apparently to one another.

"The whales made contact with the dolphin and she basically escorted them about 200 metres (yards) parallel with the beach to the edge of the sandbar.

"Then she did a right-angle turn through quite a narrow channel and escorted them out to sea.

"There's been no sign of the whales since Monday, they haven't restranded."

"What the communication was I do not know, and I was not aware dolphins could communicate with pygmy sperm whales, but something happened that allowed Moko to guide those two whales to safety."

Join us for the first ever Management Issues Webinar, on Friday March 14th, 3PM GMT (UK), 10AM Central time (US).

Women make up half the workforce in the developed world and more than half of those with tertiary education. They dominate consumer spending decisions. Yet at senior levels, you would be forgiven for thinking that little had changed over the past fifty years. Women may hold the keys but men still control the locks.

Join authors Alison Maitland and Avivah Wittenberg-Cox in a lively discussion of their exciting new book, Why Women Mean Business: Understanding the Emergence of our next Economic Revolution.

This is a book that will challenge your assumptions about what's changed - and hasn't - for everyone in the modern workplace - as well as helping you find out what your organization can do about it.

You'll hear surprising new research and have the opportunity to ask questions of the authors.

Hosted by Management Issues columnist Wayne Turmel, this will be an hour well spent. Simply click the link here to register. Space is limited, so reserve your seat now using this form.

Because of the international nature of our audience, we will be streaming all audio over the web, so you won't need a telephone - or have to pay telephone charges. To attend you simply need a flash-enabled computer and audio. If you can stream video, you can be part of the discussion.

If you're serious about getting to the top of the corporate ladder, the chances are that somewhere along the way you're going to need the services of a head-hunter.

Between them, the top talent brokers control access to the boardrooms of many of the world's largest corporations, not to mention plenty of smaller and up-and-coming ones.

So who are these powerful individuals? BusinessWeek has sought to find out with its list of the world's top 50 most influential headhunters.

More than half (31 out of 50) of the big hitters in the head-hunting world are from North America, but the number based in Asia is rising quickly.

A few big name-firms dominate the list. Korn Ferry has seven representatives in the top 50), while CTPartners and Spencer Stuart both have five.

But look for the substance behind BusinessWeek's list and you'll be looking for a long time. They say that they "considered a number of factors in selecting these 50 executive recruiters, including their individual reputations; their years of headhunting experience; the global scope of their recruiting practices; their accessibility and responsiveness; their high visibility within the client markets they serve; the recognition they enjoy within their firms and/or global executive search communities."

All of which is very mysterious and head-hunterish, but it's not exactly the most scientific of evaluations, is it? You might be one of the biggest names in the business, but there's no way of knowing whether that's because you doing a great job for your clients or just a great job at managing your own profile.

Still, at least the list mirrors the veil of slightly "cloak-and-dagger" secrecy that head-hunters seem to love wrapping themselves in.

Which makes it is all the more surprising to find that one of the top three firms on BusinessWeek's list, CTPartners, is so confident that it recruits the best candidates for the job rather than simply the most available that it publishes an annual audited candidate "stick rate" which measures whether a candidate placed by the firm has remained with the client they were placed with.

Its rate for the 18 months between January 2006 and July 2007 was 92 per cent. A pretty impressive figure, you might think – but then, given the percentages head-hunters charge, so it should be. Engage any executive search firm and at the very least employers should have every right to expect that they're going to end up with the right person for the job as well as one who is planning to stick around.

But without this sort of transparency, how can employers know they're retaining the right firms for their search? Or is that the real reason most head-hunters love the smoke-and-mirrors stuff?

If you live in the UK, chances are you're fed up with the cost of living, appalling congestion, dreadful public transport, dire education system and, of course, the weather.

So the prospect of moving somewhere with "fine weather, fine wine, fine houses, fine jobs, fine beaches and fine universities" might seem pretty appealing.

That's what the South Australian government is betting on as it launches a series of cheeky ads in British newspapers in the hope of attracting 5,000 skilled workers such as plumbers and electricians.

Among the slogans being tried out in the campaign is "Sod London House Prices", "Screw Working in Staines", "Stuff London Traffic" and "Bugger it, I'm off to Adelaide ".

Bill Muirhead, who masterminded the campaign for M & C Saatchi, told The Times that "it might appear we are being rude, but a lot of things in Britain aren't good."

As a spokesman for the South Australian government put it, "it's a stand-off challenge for people to stick two fingers up to the UK and reach out for better business prospects, better health care, higher-quality education, warmer weather, lower house prices - overall a far superior way of life."