Top managers still underappreciated

While the income of top managers in Slovakia has increased significantly over recent years, those managers still do not receive appropriate recognition of their status in society, according to Ľubomír Haluška of Deloitte & Touche. As a result, he said financial incentives are increasingly being installed.
Speaking for an audience of leading executives at Top Management, a conference organized by the economic weekly Trend, Haluška said many Slovak managers are unwilling to delegate responsibilities. He said companies should put more emphasis on team work, and managers should pay more attention to the quality of their people.
Given managers' importance in shaping a company's growth - especially in a transition economy such as Slovakia's - Haluška said it is crucial for firms to create incentives for them to stay and achieve maximum performance.

While the income of top managers in Slovakia has increased significantly over recent years, those managers still do not receive appropriate recognition of their status in society, according to Ľubomír Haluška of Deloitte & Touche. As a result, he said financial incentives are increasingly being installed.

Speaking for an audience of leading executives at Top Management, a conference organized by the economic weekly Trend, Haluška said many Slovak managers are unwilling to delegate responsibilities. He said companies should put more emphasis on team work, and managers should pay more attention to the quality of their people.

Given managers' importance in shaping a company's growth - especially in a transition economy such as Slovakia's - Haluška said it is crucial for firms to create incentives for them to stay and achieve maximum performance.

But, he said that in order to maximize their effectiveness, Slovak managers need a market that is more stable than the current one influenced by frequent legislative changes, dependence on new markets, and political turmoil.

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