The most brilliant people are usually not the most successful in the workplace. The "average guys" are usually more successful eventually, says Thanwa Chulajata, the Hay Group's country manager for reward-information services.
Thanwa said research conducted by the Hay Group found that among successful people, 70 per cent had a rather average profile, while those who graduated with first-class honours and found work with leading firms represented only 30 per cent of those eventually rising to the top.
"The higher you are on the corporate ladder, the greater the importance of EQ [emotional intelligence]," Thanwa said. "Leaders need not know the technicalities, but they must be able to motivate and be a good role model to staff. Only then do employees become devoted to them."
The Hay Group's research found discretionary effort could produce as much as a 30-per-cent effect on the performance of an organisation.
Thanwa said the trend was moving more towards intangible elements like a good workplace and good leadership, compared with earlier when it was focused on collecting and servicing a database of reward information.
The Hay Group appointed Thanwa, 36, to take a more integrated approach to the reward system.
"We've taken the big picture into account, including both tangible rewards like cash and welfare and intangible ones like creating a good work environment, providing training, motivation and other emotional rewards," he said.
To design a reward scheme, a company should consider both short- and long-term benefits. It should also consider flexible benefits, taking into account the diversity of its workforce.
Job-performance evaluation is part of the reward system.
Thanwa said the Hay Group had its own job-performance evaluation method called the Hay Point, which rated the value of a job position.
"We can claim that of the Fortune 500 companies, 80 per cent use the Hay system," he said.
The Hay Point evaluates using four major factors: knowledge, problem-solving, accountability and work conditions. The score can be benchmarked worldwide, since the 400 points given to a manager here are equal to 400 points given anywhere else, Thanwa said.
"It shows how great our responsibilities are and how much we can grow. It also tells whether a person is suited to his or her current job," he said.
The Hay Point system is also used by many governments. It is reportedly used by the prime ministers of Thailand and Singapore and the US president, but Thanwa declined to reveal further information.
This article was first published in The Nation on March 28, 2008.