Corporate governance and talent top risks for banks

by 18 Sep 2007

Corporate governance, talent management and an increased reliance on technology are the top three risk concerns of banks and financial institutions, according to a recent Aon Australia survey. Tim Farren, Aon Australia’s national financial institutions practice group head, said the ability to attract and retain key staff is a continuous concern for Australian banking and finance executives. “Combined with an aging population and with the emergence of work-life imbalance as an occupational health and safety issue, we predict workforce concerns are likely to weigh even more heavily on the minds of Australian banking and finance executives over the next 12 months,” he said.

National RCSA president joins Vedior Asia Pacific

Vedior Asia Pacific today recently announced the appointment of Steve Shepherd, national president of the Recruitment & Consulting Services Association (RCSA), to head up the group’s global managed services division. In the newly-created position of general manager global managed services, Shepherd will oversee Vedior Asia Pacific’s operations in recruitment/HR outsourcing, vendor management solutions and business process outsourcing. Shepherd has been in the recruitment industry for 19 years, 16 years of which he spent with Kelly Services, and has held senior sales and operations management roles in Australia and the Asia-Pacific.

NSW employers still answerable to unions on OHS

Employers in NSW must respond to all reasonable questions from union representatives when they enter an employer’s premises to conduct investigations into suspected breaches of the New South WalesOccupational Health & Safety Act, according to Andrew Ball, a partner in Corrs Chambers Westgarth’s workplace relations practice group. Commenting on a recent case, Jim Pearson Transport v TWU [2007] AIRC 559, Ball said employers still need to comply with obligations under State OHS legislation in relation to unions undertaking OHS investigations where those obligations are not inconsistent with WorkChoices. “If HR professionals don’t answer questions, and don’t have a reasonable excuse for doing so, they may be guilty of an offence under the New South Wales OHS legislation,” he said.

Tackling the skills shortage in finance

As the skills shortage grows, companies within the finance and accounting sector are now more open to creative hiring practices, including contract and part-time roles, in a bid to woo staff, a recent Robert Half white paper has found. The lure of international job opportunities among employees is seen as an emerging issue as the demand for highly skilled finance professionals continues to escalate worldwide. Candidates have recognised the ease with which they can take up appealing opportunities overseas, particularly in Asia and the Middle East. The white paper also found that a competitive marketplace has ensured that a higher value is placed on staff incentives including traditional salary packages, bonus structures and gym memberships.

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