COMPANIES SEEKING to improve their performance should focus more attention on their employees, giving them the tools, resources and autonomy they need to do their jobs well. According to an online survey of 1,350 senior executives, if firms want employees to be more effective, they should allow them to take prudent risks within parameters that limit potential losses. The survey revealed employers attitude to risk-taking were:
Reasonable tolerance 64%
Discourage it 20%
Actively support it 13%
Overall, the research found that many employees already feel adequately enabled.
Source: Economist Intelligence Unit
HR optimistic despite recession fears
ONE IN three UK HR managers believe their department will have more money to work with in 2008 than they had last year despite recession fears. The survey of more than 200 senior UK HR managers revealed that only one in five expected their budget to fall, while the remainder were expecting the same deal as 2007.
Ethics and compliance codes not extended to third parties
NINETY-FIVE PER CENT of companies believe that while it is vitally important to address third-party ethics and compliance issues through codes of conduct for their own employees, they are less inclined to involve third parties directly in these programs. A survey of 169 companies revealed that the process of getting third parties to report concerns or misconduct was ranked as the easiest means of ensuring appropriate third-party compliance.
Source: The Conference Board
HR directors are happy
EIGHTY-FIVE PER CENT of HR directors in the UKsaid they liked both the company they work for and their role within it. A survey of 53 HR directors at large organisations revealed that only 7 per cent said they would swap their job in HR for one in another department. This contrasts with 40 per cent who would move to another country. The survey also showed that talent management was the area where HR has the greatest impact on business performance. Organisational effectiveness, performance evaluation and leadership development also ranked highly.
Source: Hewitt Associates
New e-learning research debunks e-myths
FIFTY-SEVEN PER CENT of registered training organisations (RTOs) already include e-learning in their education and training programs. A survey of 400 Australian employers found that more than 80 per cent were encouraging their staff to undertake e-learning to expand skills and gain qualifications to help overcome the skills shortage. The survey findings highlighted how RTOs are becoming more comfortable with e-learning, and why most employers are benefiting from e-learning from an industry perspective.
Source: Australian Flexible Learning Framework
Few employers addressing workplace stress
WORKPLACE STRESS is the most frequently cited reason US employees consider leaving their jobs. While nearly half of US employers (48 per cent) say stress caused by working long hours is affecting business performance, only 5 per cent are addressing this concern, according to a recent study. Similarly, more than one-quarter (29 per cent) of employers believe stress caused by widespread use of technology such as cell phones and personal digital assistants is greatly affecting business performance, but only 6 per cent are taking action to confront the issue.
Source: Watson Wyatt
Tradies browsing job ads once a week
EIGHTY PER CENT of tradespeople browse job advertisement at least once a week. A survey of employees within the trades and services industry found that these employees are looking at other job opportunities more often than any other sector. The survey also revealed that the top three things they love about their current job are the people they work with (18 per cent), hours of work (15 per cent) and their boss (14 per cent).
Change management is biggest challenge
TWO-THIRDS OF UK firms believe that managing change is their biggest challenge. The study of 479 managers also found that employers see retention, recruitment and skills shortages as massive challenges for the future. More than 80 per cent of organisations reported some form of change over the past two years. In response to this challenge, managers viewed leadership development as the most useful tool.
CEOs receiving huge incentive payouts
CHIEF EXECUTIVE officers whose companies financially outperformed their peers over a three-year period received long-term incentive award payouts that were more than 50 per cent above their target. The analysis of CEOs at 177 companies revealed that CEOs at high-performing companies – those with total returns to shareholders (TRS) above the median from 2004 to 2006 – were rewarded with long-term incentive payouts that were 156 per cent of their targets.
High performers 156%
All companies 114%
Low performers 71%
These figures showed a significant jump since 2004 where payouts as a percentage of targets for high, low and median performers were 101, 33, and 62 per cent respectively.
Source: Watson Wyatt