Brief Sheet
Execs: It’s lonely at the top
A
recent survey of chief executive officers by the global management consulting company RHR International found 98% of CEOs say their board of directors is a fruitful source of feedback and support, noting they can speak honestly with certain directors about their performance and the impact of their decisions. But not all is rosy in the top corporate spot. More than threequarters of CEOs say that board relationships and communications begin to break down during the
succession-planning process. Many CEOs report that communication with their board about selection decisions and responsibilities is the most difficult
U.S. bedding sales finish year strong
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y all measures, the U.S. mattress industry posted healthy sales gains in December 2011 when compared with the same month the previous year, according to Bedding Barometer, a monthly sales report published by the International Sleep Products Association. Unit sales of mattresses and foundations were up 7.6% over December 2010, while the wholesale dollar value of those units rose a hefty 20.2%. The average unit selling price increased 11.7% in December over the same month the previous year. Looking at initial statistics for all of 2011, the U.S. mattress industry saw unit sales increase 2.1% when compared with 2010. Dollar values were up 10% and AUSP increased 7.8%. Final sales statistics for the year will be published in the spring as part of ISPA’s annual report.
part of this process. More than three-quarters also believe they should be more involved in planning their own succession. “Succession planning is full of complex psychological nuances, such as an incumbent CEO’s readiness to step down, that can make it a very difficult process,” says Thomas Saporito, RHR International chairman and CEO. “Earlier RHR research also shows CEOs need more clarity from and alignment with boards during transitions into and out of the C-suite.” The survey also indicates CEOs see a disconnect between feeling prepared for the job and what they experience when they assume the role. While 87% felt ready to assume the office, 54% of that group say the position was different from what they expected. “This is not uncommon,” Saporito says. “Stress, pressure and loneliness all combine to create a job unlike any other they have previously had.” Survey participants say that the intensity of their job, coupled with the scarcity of peers to confide in, create feelings of isolation. Half report feeling lonely in the role and, of that group, 61% believe that the isolation hinders their performance. The survey includes responses from 83 CEOs in the United States who lead companies with annual revenues of $50 million to $2 billion.
Good to your last dime
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hese numbers will give you a jolt: Half of the American workforce spends an average of $1,092 a year on coffee, according to a survey by Accounting Principles, an employer and career services firm in Jacksonville, Fla. That’s more than $20 a week. Working men not only buy more java than women, but they spend nearly twice as much as their female counterparts—$25.70 versus $15 a week. Young professionals ages 18 to 34 spend almost twice as much ($24.74) as those older than 45 ($14.15). Nearly a quarter of American workers wish their company would invest in better coffee for the office. If Americans’ appetite for cof-
fee seems a little extravagant, they spend almost twice that amount on lunch. More than two-thirds of American workers buy their lunch instead of packing and bringing it, spending an average of $37 per week. This means that the average American worker is shelling out nearly $1,924 a year for her midday meal. Younger workers spend even more for lunch, with employees ages 18 to 34 spending $44.78 a week, while workers age 45 and older fork over $31.80. Perhaps workers are starting to realize the effect that buying lunch has on their personal bottom line: 45% of younger employees plan to bring lunch this year to cut down on expenses.
March 2012 BedTimes
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