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Expert Perspective - Organization Development

November 2nd, 2010

Expert Perspective Form Grahall’s OmniMedia Editorial Board

Jon Picoult made some sensible points in his recent article published in the New York Times (Here Comes a Turnover Storm) but in a few important ways he missed the boat. No doubt there will be turnover when the job market picks up and perhaps most of that is due to employee discontent. But more importantly, before people begin leaving (because they always do), a company should design its reward and retention programs to hold onto those, frankly, very few, who are the most important to the company. These few, in most cases not more than 15% of the workforce, are those individuals who contribute to the competitive advantage the company offers.
Continue reading “Don’t Get In a Twist About Human Capital Turnover” »

Filed under: Expert Perspective - Rewards

Tags: competitive advantage, human capital, Job Postings, recruit, retain, turnover

Seven Careers? We Agree: That’s just nonsense

by William Byrnes

September 20th, 2010

Expert Perspective by Grahall’s OmniMedia Editorial Board

In his September 4, 2010 article for Wall Street Journal (Seven Careers in a Lifetime? Think Twice, Researchers Say Carl Bialik sensibly questions: “Do Americans really go through careers like they do cars or refrigerators?”

Likely high school and college students asking the question “Fries with that?” do not consider that job, however well paying, to be a career, And when these same individuals complete their education and go on to be an investment banker they wouldn’t think of the move from “burger flipper” to investment banker as a “career change” . A job change, yes, a career change, NO.

Likewise the executive compensation consultant who has toiled for some years at Firm A and is recruited to Firm B to do similar work in a new environment (probably with more pay) would also not likely see that as a career change. A job change, yes, a career change, NO.

So, is the question of career change even really relevant? We think the confusion over the term “career change” vs. “job change” vs. “whatever ever else people are doing” may be nothing more than an issue of semantics. But the fact that Americans move around with some frequency is relevant to both employees and employers.

Continue reading “Seven Careers? We Agree: That’s just nonsense” »

Filed under: Expert Perspective - Organization Development

Tags: Job Postings, organization design, talent management, unemployment

Expert Perspective

Our Notions on Investing – Getting a Little Banged Up?

by William Byrnes

September 7th, 2010

Expert Perspective by Grahall’s OmniMedia Editorial Board

Graham Browley writes in his August 21, 2010 article for the New York Times
(In Striking Shift, Small Investors Flee Stock Market) that “The notion that stocks tend to be safe and profitable investments over time seems to have been dented in much the same way that a decline in home values and in job stability the last few years has altered Americans’ sense of financial security.”

This recession has been unusually deep, with unemployment remaining stubbornly high as companies lay off workers and jobs move overseas to cheaper labor markets. It’s not your “grandmother’s recession” (of the 1960s) or even your “mother’s recession” (of the 1980’s) for that matter. In this one, the marked difference is that, from the late 1980s on, more and more Americans became investors in the stock market through their 401(k) plans.
Continue reading “Our Notions on Investing – Getting a Little Banged Up?” »

Filed under: Expert Perspective

Tags: 401(k), INVESTING, Job Postings, unemployment

Expert Perspective

It’s Not Just Executive Search, it’s Executive FIND

by William Byrnes

August 31st, 2010

Expert Perspective by Grahall’s OmniMedia Editorial Board

In her August 3rd article for SHRM (Executive Search Heats Up in Emerging Markets), Stephanie Overman writes: “Executive search experts see their business heating up in emerging markets, particularly in the Asia-Pacific area and Brazil.”

Here in the US things are a bit different. With the economy still struggling to recover in many sectors and geographies, recruiting professionals can be faced with sifting through hundreds or even thousands of resumes for every job posting. “Using electronic media and social networking” as Overman writes, might work where demand is greater than supply. But for US companies the need for experienced executive search firms remains critical, regardless of how appealing these “no or low” cost options might sound.
Continue reading “It’s Not Just Executive Search, it’s Executive FIND” »

Filed under: Expert Perspective

Tags: executive search, Job Postings

U.S. economy took a dive in the 2000s, a lost decade for workers

Published in The Wall Street Journal, January 1, 2010 by Neil Irwin

January 1st, 2010

For most of the past 70 years, the U.S. economy has grown at a steady clip, generating perpetually higher incomes and wealth for American households. But since 2000, the story is starkly different.
The past decade was the worst for the U.S. economy in modern times, a sharp reversal from a long period of prosperity that is leading economists and policymakers to fundamentally rethink the underpinnings of the nation’s growth.
It was, according to a wide range of data, a lost decade for American workers. A decade that began in a moment of triumphalism and the idea among some economists that recessions were a thing of the past has included two of them — bookends to a debt-driven expansion that was neither robust nor sustainable.

Filed under: Newsfeeds

Tags: Economic recovery, Job Postings

Employee Negativity Grows with Recession Fatigue

Published in Society for Human Resource Management, December 18, 2009 by Kathy Gurchiek

December 18th, 2009

The cut-to-the-bone mentality of organizations trying to weather a lingering recession has taken its toll on employees’ perception of long-term career opportunities at those companies, according to a report released Dec. 15, 2009.
The negativity stems from being worn down by the recession, the survey says. That pessimism also is prompting workers to view their leaders in a less-than-rosy light, according to findings from Towers Perrin’s Quarterly Workplace Watch. Data is from about 640,000 people working at 54 companies around the world from July-September 2009.
A key question for organizations as the economy starts to recover is whether the changes organizations made during the recession are temporary or permanent, according to the survey report.

Filed under: Newsfeeds

Tags: corporate culture, Job Postings, recession

Planned 2.5% Pay Increase Lowest in Last Decade, Study Finds

Published in World at Work, December 9, 2009

December 9th, 2009

U.S. employees can expect median pay increases of 2.5% in 2010, which is the lowest planned increase in the last decade, according to a new study.
The study by Hay Group found that this amount is one-half of 1% lower than when Hay Group conducted a similar study in July 2009 that forecasted a 2010 median pay budget increase of 3%.
Planned increases are generally consistent for executives, middle management, supervisory and clerical positions. After factoring in the consumer price index growth forecast for 2010 at 1.8%, the result is a ‘real’ gain of 0.7%.
“While these increases are greater than the 1.9% that employees actually received in 2009, the market is still tempering its outlook for 2010 as is evident by the swing from 3% increase budgets in the summer to 2.5% increases today. About a quarter of organizations decreased their salary budget increase estimates in the last four months,” said Mel Stark, vice president in the reward practice at Hay Group. “There are several things at play here,” Stark said. “Many organizations put the brakes on salary increases in 2009 and a number of organizations had salary freezes due to tough economic conditions and company performance. The improved outlook for salary increases is due to both a more positive economic outlook as well as a feeling by management that it is difficult to provide nominal increases to organization workforces who have been asked to do more with less during difficult times.”

Filed under: Newsfeeds

Tags: Job Postings

Employers Plan to Remain Conservative on Hiring in 2010

December 7th, 2009

Published in World at Work December 7, 2009
Despite signs of economic recovery, many employers plan to maintain a conservative stance well into 2010, with 31% of those polled in a recent Towers Perrin survey indicating they plan to reduce head count on a targeted basis in the coming year and another 6% planning for a significant reduction in staff.
The results of the new survey are improved over 2009 reports (42% and 35%, respectively), yet they reflect a continued level of concern among America’s businesses on the speed of recovery from the recent recession. In contrast to this projected employment contraction, 21% of the companies surveyed actually plan to increase hiring in the coming year, compared with just 3% that did so in 2009. In addition, 16% of companies that froze or reduced hiring in 2009 are planning to increase hiring next year. At the same time, companies are also expressing increased concern about keeping their critical talent as the recovery picks up steam and jobs become more available to top performers.

Filed under: Newsfeeds

Tags: Economic recovery, Job Postings

Wall Street Lost Fewer Jobs Than Forecast in Recovery

November 17th, 2009

http://www.bloomberg.com/apps/news?pid=20601103&sid=arTfuqVz33aA

Wall Street Lost Fewer Jobs Than Forecast in Recovery (Update2)

By Henry Goldman

Nov. 17 (Bloomberg) — Wall Street is recovering faster than the national economy, with New York City’s four largest investment firms reaping profits of $22.6 billion through Sept. 30 after losing more than $40.3 billion last year, state Comptroller Thomas DiNapoli reported.

DiNapoli’s annual report on the city’s securities industry also found that job cuts following the worst credit crunch since the Great Depression may not exceed 35,000. The total is about what Wall Street lost following the 2001 recession and terrorist attacks and less than the 47,000 officials predicted when preparing the city’s June financial plan

Published in Bloomberg November 17, 2009 by Henry Goldman

Wall Street is recovering faster than the national economy, with New York City’s four largest investment firms reaping profits of $22.6 billion through Sept. 30 after losing more than $40.3 billion last year, state Comptroller Thomas DiNapoli reported.