Editorial
Reputation is everything
Allan Hubbard’s reputation is on the line. The octagenarian Timaru businessman and his wife have been placed under statutory management, along with their private investment company Aorangi Securities and seven charitable trusts. The Serious Fraud Office is conducting a full investigation of his affairs and has banned Hubbard from his office. Supporters say this is the cruellest blow that could be dealt to the 82-year-old.
Friends and supporters of the multi-millionaire businessman have rallied to support him. Membership of the Facebook group ‘Leave Allan Hubbard Alone’ is growing by the hour and an editorial in The Timaru Herald describes the Hubbards as “a deeply religious couple who have spent their lives backing individuals, building up their businesses, supporting them in tough times.” As philanthropists, it says, they are in a league of their own.
The paper says Hubbard’s reputation and money have kept South Canterbury Finance—which has close to $2 billion guaranteed by the Government—afloat so far. He has poured all his resources into ensuring “no investors lose their shirts”.
Now anything to do with finance is an enigma to me so I won’t even try to get my head around what might have happened and the ramifications. [Read Rebecca Macfie’s recent profile in the May 22-28 issue of NZ Listener for an excellent in-depth picture of the man, his business, and whether it will end up costing New Zealand taxpayers millions.]
Like Stuff.co.nz business writer Patrick Smellie, I’m inclined to believe that Hubbard, if he has done anything wrong, has done so with the best intentions. However, in a world reeling from the fallout of finance company mismanagement, good intentions aren’t enough.
The tragedy is that this is a man who’s known as a humble and upstanding member of society, someone who drives a 1971 VW, lives in a modest home, and has given around $200 million to charity over the years. He’s about as far removed from the financial wide boys who have brought the industry into disrepute as you can imagine.
As Michael Parker, CEO of South Canterbury Presbyterian Support, told the NZ Herald: “This sort of stuff is hugely damaging for someone who has spent 82 years doing the right thing.”
Damaged reputations have been a recurring theme of late. Some of those at the sharp end have fronted up and said sorry, some have made excuses, and BP boss Tony Hayward, of course, has got his life back watching his yacht race at Cowes.
—Lyndsey Swan
Feature articles
The Kiwi passion for rugby means the NZRFU comes in for plenty of public scrutiny. Helen Frances talks to the union’s GM of corporate services Kirsten Patterson about the team behind New Zealand’s favourite game and how they aim to perform like an off-field equivalent of the All Blacks.
Fingers do the working
The internet is a key source of information and a huge percentage of workers are regularly online. But do they have the level of digital literacy needed for a productive workplace? Colin Phillips explains how digital literacy brings business rewards.
Personality plus
It’s impossible to read a person’s personality when we first meet them, yet hiring managers often rely on gut feel when assessing job candidates, says Rob McKay. He looks at personality as a predictor of work performance and discusses the role of testing in finding the best ‘fit’ for the job.
Comparing apples
Psychometric assessments are helpful in achieving a number of organisational objectives, like selecting the right candidates and developing existing employees. How do you maximise the value from this assessment process, ask Sue Sommerville and Paul Wood. And once you’ve got the results, what next?
Creating a bright future
When tough decisions have to be made, providing support to those made redundant makes a statement about the level of care a business places on its employees as a whole, says Jude Manuel. She looks at how to get the best from career transition services.
Road map to the future
Most organisations seek to ‘do the right thing’ by staff having to leave because of restructuring and redundancies. But does career transition for executive level staff differ from other levels? Pip Furlong says it does. She explains how to turn a redundancy situation into a real opportunity.
Have employers lost faith in good faith?
The obligation of good faith applies equally to all parties to an employment relationship. While employers often suggest this obligation only goes one way, recent decisions show that’s not the case, says Bridget Smith. She urges both parties to a dispute to look at the bigger picture, and do unto others ...
In agreement
The principles outlined in Don Miguel Ruiz’s The Four Agreements are the essence of great working relationships, says Anna McNicholl.
Departments
The DOL Report: The big six
New Zealand management practice is not all that it should be, according to a recent report. But help is at hand. A new easy-to-follow guide to six big management issues can help you and your business, says Craig Smith.
Sustainable Business: First steps to sustainability
Adopting sustainable business practices is a no-brainer, says Rachel Brown. Sustainability makes excellent business sense. She outlines some easy first steps to start your organisation on the road to sustainability.
Remuneration Remedies: A wild ride ahead
Get ready for a wild ride—it’s all about tax, inflation and affordability this year, says Susan Doughty. She looks at ways to deal with employee expectations when cost management is still a number one priority.
HRINZ News: Time to take action on risk
Organisations commonly manage asset and market-related risk, but do they put they same effort into protecting their greatest asset, their people? Mike Johnson urges businesses to take the time to reflect on the people risks they face, and plan how to protect themselves.
Strategic HR: Great expectations
The findings from The Great New Zealand Employment Survey point to three critical areas of concern for HR managers. Clare Parkes outlines what they are and explains how to address them.
Public sector: Conduct evens the score
Although unfair procedures meant a teacher’s dismissal was unjustified, she scored an own goal through her actions—which the Employment Relations Authority said warranted dismissal. Remedies were reduced by 100 percent, says Paul Robertson.
Just the job: Regaining employee confidence
After months of hunkering down and pulling together through the recession, many people are looking for something better as the job market improves. It’s time for organisations to focus on people and career development to regain employee confidence, says Kaye Avery. |
