|
|
| If you are having difficulty seeing this mail or images in it, you can view it in your Web browser. |
|
| Volume 8, Issue 12 |
|
In This Issue:
 Stopping a financial crisis, the Swedish way
 Managing amid economic uncertainty
 [6 Keys to] Innovate your way out of recession
Why it doesn't pay to pigeonhole Gen Y
Looking after [your] talent is vital in a downturn
 Doing compensation right: The winning spread
 Asking for a raise: 10 tips for making your pitch
10 real-Life proven ways to retain your best employees
The rules of company blogging: Avoiding employee misuse and abuse
Sample policy: Progressive discipline
 Severence agreement: To sign or not to sign?
 10 ways you can help your employees "get it done" every day
Last word: OUTSMART! How to keep your employees engaged
You’re sick. Now what? Knowledge is power.
|
|
|
 |
Stopping a financial crisis, the Swedish way
Swedish National Debt Office
Bo Lundgren, finance minister during the 1992 crisis.
|
A banking system in crisis after the collapse of a housing bubble. An economy hemorrhaging jobs. A market-oriented government struggling to stem the panic. Sound familiar?
It does to Sweden. The country was so far in the hole in 1992 — after years of imprudent regulation, short-sighted economic policy and the end of its property boom — that its banking system was, for all practical purposes, insolvent. But Sweden took a different course than the one now being proposed by the United States Treasury. And
Swedish officials say there are lessons from their own nightmare that Washington may be missing. Sweden did not just bail out its financial institutions by having the government take over the bad debts. It extracted pounds of flesh from bank shareholders before writing checks. Banks had to...
Read the article. Back to top
|
|
|
|
 |
Managing amid economic uncertainty
When employees are distracted by looming foreclosures and fear of job loss, keep morale up by confronting their concerns directly.
During the Internet bust a few years ago, I had lunch with a corporate HR leader. His company, a telecommunications giant, was in trouble. Every week, more layoffs were announced. People who could find better jobs were leaving in droves. I asked the HR fellow: "How are you dealing with employee morale?" "Oh, we don't think about morale,"
he chuckled. "We focus on Engagement with the Mission." I was astounded by his reply, and I could all but hear the capitalized "E" and "M" in the phrase. Lots of HR people talk about engagement, and they also talk about missions. These are good things to talk about when half the workforce isn't in fear of losing jobs at any moment. How
does one get engaged with the organization's lofty mission when one is preoccupied with job security, the threat of missing a mortgage payment, or worse?...
Read the article. Back to top
|
|
|
|
 |
[6 Keys to] Innovate your way out of recession
|
Max McKeown works as a strategic adviser for four of the five most admired companies in the world. Europe's unorthodox answer to Tom Peters, he is also a a well-known speaker on subjects including innovation and competitive advantage. |
With the 158 year old Lehmann brothers (the investment bank not the siblings) declaring themselves bankrupt, and economic gloom filling (and selling) newspapers and
setting the tone for hysterically downcast television presenters you could be tempted to keep, like Amy Winehouse, a bottle handy. You could also be forgiven for hiding until the storm has passed.
The truth is that the best way to deal with a recession is to innovate your way out of it. You could just cut back on everything but you will also cut back on the very things that can help you to survive and grow. You could just continue to spend as if there was no recession but you will run out of money and waste opportunities to
improve the way you innovate. Spending nothing leaves all the positive moves to your competitors. They can get closer to your customers. They can release next generation products that establish new markets. They can increase the value of their brands and
take advantage of the next wave of growth. Sit still and be left behind – even in a recession. [Employ these 6 keys to innovate your way out of recession...]
Read the article. Back to top
Why it doesn't pay to pigeonhole Gen Y
Yet in many respects these 18-30 year olds are no different from previous generations, new British research has argued. A study by consultancy Penna and the HR body the Chartered Institute of Personnel and Development has suggested some of the most common assumptions employers have about different generations may be wrong.
While communication on social responsibility and the "green" agenda is typically targeted at Generation Y, it is often more the Baby Boomers (aged between 45 and 60) who take an employer's reputation in these areas into account when applying for a job. Generation Y is also often tarred as being a "me" generation solely driven by
individual needs and demands, whereas in fact often under 30s commonly look for an environment where they can feel part of a team and make friends. Generation Y workers are also said, in what is a back-handed compliment, to like to be in control of their own career development. That may well be the case, but it is the baby boomers who are
the least happy with their personal development opportunities, found Penna and the CIPD. The notion they are serially disloyal and constantly at the ready to jump ship for their own career progression may also be flawed. The research [shows] that...
Read the article. Back to top
Looking after [your] talent is vital in a downturn
Despite the economy taking a nosedive and more firms cutting jobs, U.S managers say they are now spending more time working on retaining key staff, including paying them bonuses and sending them on training courses.
According to a poll of more than 530 HR and other professionals by recruitment firm Personnel Decisions International, nearly a third ranked "accelerating development of key employees" as their top strategy when it came to retaining top talent, followed by "competitive pay and benefits". "It may seem counter-intuitive that organisations are
more concerned with retaining key employees in a down economy. But, when the economy is tight, company leaders realise that the best and brightest talent can give the organisation a competitive advantage," explained Tommy Daniel, senior vice president at PDI. "Unfortunately, with fewer resources, many employees are overworked and
worried about the future and look outside the company for other opportunities. That's why focusing on the right retention tools is more important than ever," he added...
Read the article. Back to top
|
|
|
|
 |
Doing compensation right: The winning spread
Companies talk a lot about compensation planning and pay-for-performance, but even organizations that consider themselves progressive on compensation fall back on the old peanut-butter approach to pay: allowing managers to spread the budget for merit increases somewhat evenly to their people.
It is conventional wisdom that peanut-butter pay just doesn't work; yet, it still is a ubiquitous practice. If a company was to find out its manufacturing process wasn't producing the results required, chances are it would tackle the problem immediately. Organizations should tackle flaws in their people processes with the same urgency.
Is the Peanut-Butter Approach Really That Bad?
When using the peanut-butter approach, typically the majority of people will get a 2-5 percent pay increase. According to Manpower Professional, a staffing firm and collector of labor statistics, the average tenure for an employee is down to 3.6 years. The difference between 2 and 5 percent is
almost meaningless given the short tenure of today's worker. Therefore, how can companies expect this approach to motivate and retain their best people? When top
performers get a 5 percent raise when they could demand a 10 percent higher salary at a new company, they leave for the better opportunity. [The study found compensation management does matter. In the test sample]...
Read the article. Back to top
|
|
|
|
 |
Asking for a raise: 10 tips for making your pitch
You may not be comfortable when it comes to negotiating your own pay and perks, so lay out your case using these presentation tips:
1. Get down to business quickly. State simply that you want to ask for a raise and present the documentation you have prepared. Be sure to cover all your accomplishments. If you are part of a team of people who report to your boss, he or she may not be fully aware of your individual contributions. 2. Start with...
Read the article. Back to top
10 real-Life proven ways to retain your best employees
At Florida-based Baptist Hospital, the CEO declared an all-out war on turnovers, pulling out all the stops to tear down typical corporate walls and retain his best workers.
He decided to move out of the executive suite, eliminate executive perks, park the farthest away in the parking lot, give employees his home phone number to call if they have questions, make daily rounds of employees, hand-write thank-you notes to employees and send managers to a leadership academy. That CEO is one of the corporate
leaders who “gets it,” according to Greg Smith, author of the book, 401 Proven Ways to Retain Your Best Employees. Here are 10 more real-world examples of efforts by organizations in recent years to keep their workers satisfied and in their seats:...
Read the article. Back to top
The rules of company blogging: Avoiding employee misuse and abuse
Spend any time scanning the world’s 112 million blogs and you’ll find plenty of employees discussing their work. Sometimes that spells legal trouble for employers.
By implementing an effective company blogging policy, you may avoid many of the pitfalls. Most company blogging policies require employees to assume personal responsibility for all blog content, abide by existing corporate policies, keep
company information confidential—and be nice. Some employers prohibit employees from discussing work at all. However, all company blogging policies should contain some crucial provisions. Blogging at work...
Read the article. Back to top
Sample policy: Progressive discipline
The following sample policy was excerpted from The Book of Company Policies, published by HR Specialist, © 2007. Edit for your organization's purposes.
The most reliable way to protect yourself from charges of wrongful dismissal is to establish a policy of progressive discipline. By having such a structure in place and making your supervisors abide by it, you can ensure that any employee fired because of
poor performance was treated fairly and in accordance with your company’s policies. Here are the main steps in a solid progressive-discipline policy:...
Read the article. Back to top
|
|
|
|
 |
Severence agreement: To sign or not to sign?
|
You've just been laid off. You're encouraged to sign a waiver granting you severance if you agree not to sue. Don't do it. At least not right away.
Too many people make the mistake of signing a separation agreement before really thinking about it clearly: They're in shock--or assume they're just an unfortunate victim of the economy. That may not be the case. Before signing anything, spend the $200 or so it will cost to have a lawyer review the agreement, and discuss the details
of your layoff. One who didn't do this was the client who recently came to Long Island attorney Michael Borrelli's office to discuss being laid off. She was one of four people downsized in her large department. All four were over 40. Borrelli's ears perked up. "That they were all over 40 makes them a protected class under the Age
Discrimination [in Employment] Act," says the Long Island attorney, who specializes in labor and employment law. "There was compelling evidence there was discrimination." But there was nothing Borrelli could do. Three had already signed the agreement. Oops...
Read the article. Back to top
|
|
|
|
 |
10 ways you can help your employees "get it done" every day
Here, Richard Lepsinger presents 10 keys to inspire an "execution revolution" at your company. (Edited by Jonathan Tannenbaum)
Even though many companies envision themselves becoming a market leader one day, many employees often see these aspirations as far-fetched dreams. A recent survey conducted by OnPoint Consulting shows that almost half of respondents believe that their organization continually fails to execute its strategic vision. But it doesn't have to
be this way, says Richard Lepsinger, President of OnPoint. Your company really can keep its promises—but first you must take some tried and true steps to create a "get it done" culture. For example:...
Read the article. Back to top
Last word: OUTSMART! How to keep your employees engaged
|
"From concept to creation" is the mantra at S.A. Robotics of Loveland, Colo.
Its leaders, Dan Johnson and Mike Cappello, belong to a rare and stubborn breed of leaders who have bucked the outsourcing trend of the past two decades and outsmarted their rivals by doing everything themselves. The maker of custom robotic arms and lifting devices goes to great lengths—literally, up to 100 feet (the size of some of
its robots)—to prevent humans from coming into contact with nuclear waste, lethal chemicals and other dangerous substances. The robots, which cost between $1 million and $2 million apiece, are selling as fast as S.A. Robotics' 140 satisfied employees can make them. The turnover rate at the company is nearly zero, while its annual
growth rate is a whopping 70 percent. The company's success would have been impossible if it hadn't been able to hire and retain talented, highly motivated employees. The near zero attrition rate doesn't happen because of the pay level, which Cappello describes as "middle road." He keeps his people happy by encouraging them to...
Read the article. Back to top
|
|
|
|
|
|
You’re sick. Now what? Knowledge is power.
Are patients swimming in a sea of health information? Or are they drowning in it?
The rise of the Internet, along with thousands of health-oriented Web sites, medical blogs and even doctor-based television and radio programs, means that today’s patients have more opportunities than ever to take charge of their medical care. Technological advances have vastly increased doctors’ diagnostic tools and treatments, and have
exponentially expanded the amount of information on just about every known disease. The daily bombardment of news reports and drug advertising offers little guidance on how to make sense of self-proclaimed medical breakthroughs and claims of worrisome risks. And doctors, the people best equipped to guide us through these murky waters,
are finding themselves with less time to spend with their patients. But patients have more than ever to gain by decoding the latest health news and researching their own medical care. [From interviews with doctors and patients, here are the most important steps to take in a search for medical answers...]
Read the article. Back to top
|
|
|
Forward to a Friend:
Do you have a friend that would like to receive MgmtWatchsm? Perhaps you know a peer within your organization, or associate at a partner company that would benefit from applying to receive this publication. Inviting a friend to experience the benefits of joining the BusinessWatch Network is easy! Just FW: this newsletter to the person you know who may have an interest and ask them to click here http://www.businesswatchnetwork.com Your friend will be glad you did!
|
|
|
If at any time you would like to unsubscribe from MgmtWatchsm simply change your status, or send a letter requesting opt-off to: The BusinessWatch Network Privacy Mailbox, 1321, Marblehead, MA. 01945
DISCLAIMER: MgmtWatchsm and the BusinessWatch Networksm are service marks of DMS. All other trademarks or service marks contained in this email are the property of their respective owners. At the time of publication, all links in this e-mail functioned properly. However, since many links point to sites other than businesswatchnetwork.com, some links may become invalid as time passes.
DMS Inc. supports the DMA Privacy Promise and
Guidelines for Ethical Business Practice. We are committed to the proper use of
email and to protecting consumers from fraudulent or inappropriate
offers. Privacy Policy
|
|
|
| |