Blame game
Know what really annoys staff during a crisis? Turns out it’s narcissistic leaders, according to research from NEOMA Business School.
Prof Birgit Schyns and her team interviewed workers from the UK education sector during the pandemic and found that irritation and worry rose when they were around narcissists who also happen to be in charge, those characterised by “covert feelings of entitlement”.
“Resources are often already stretched thin in crisis situations,” says Schyns. “Vulnerable narcissistic leaders strain them further—for instance, by giving employees no guidelines on how to accomplish goals or blaming others for their own shortcomings.”
This sounds about right. Plus, UK government ministers offer proof every day on TV.
Stand by your NEDs
We all know talent is hard to find but it turns out there is a solution. According to the Financial Times, companies are increasingly turning to boardroom apprenticeships.
For a fee, fixers are now arranging for would-be non-executive members to be observers on a board for up to a year. It’s not cheap, mind. The FT says it can cost more than £7,000. It adds that the “observation” posts are particularly good for preparing non-execs from minority groups.
The whole “apprenticeship” idea is still in its infancy. The big issue seems to be persuading boards to host someone, according to Susie Cummings, founder of Nurole, a board recruitment platform. She tells the FT: “Apprenticeships are great if you can get one.” No wonder they’re pricey.
Reform in reverse
Last week we reported on delays to long-trailed audit reform. Despite endless reviews, reports, consultations, mentions in the Queen’s Speech, intense debate, and media articles (yes, we are oh, so weary) since the collapse of construction giant Carillion in 2018, the government appears to have decided reforms are not a priority.
It therefore won’t be a surprise to discover not everyone thinks this a good idea. In a letter to the FT, Anne Kiem, chief executive of the Chartered Institute of Internal Auditors, asks: “So, if not now, when exactly?”
“The fact is that audit reform has already been delayed for far too long and it is time the government delivered these reforms by publishing the audit reform bill it promised in the Queen’s Speech over a year ago,” she writes.
Kiem’s right of course. But we doubt anyone’s listening.
Go figure
While the UK wrestles with regulation, the US is vexed by a shortage of accountants: cue a major row over how to solve the problem. The solution, for some, is to address the staff shortage by making it easier to qualify.
While the national body, the AICPA, stands by existing requirements—the so-called “150 hour” rule, demanding a fifth year of higher education—some states, Minnesota and South Carolina, are working on a reform to reduce the requirements.
Thousands of accountants have left the US in the past two years, as many as 334,0000, according to some estimates. That gives the bean counters of America a problem to solve. Something’s got to give. Every accountant counts. So to speak.
Demand and supply
Not long ago, we pointed out that boardrooms were becoming crowded with lots of new posts—AI officer, chief growth officer and chief empowerment officer, etc, etc. Now, it seems boards are seeking procurement or supply chain officers for a seat around the table.
An article in Supply Management, a trade mag, says the number of FTSE 350 companies with a supply or procurement expert at the board table has grown from 11% to 20% between 2018 and 2022.
Jennifer Lovell writes that the news proves “that the goal of becoming a non-exec is achievable for leaders in supply chain”.
We would just remind them that this is not the only thing they’ll be required to do: nominations, auditco, and all that. So prepare yourself, supply chain people.