By Society for Human Resource Management
Packed with instruments to assist strategize during times of financial turbulence, this worthy source presents human source pros with proactive information. Addressing vital matters similar to the declining worth of the greenback, 401(k) plans, and downsizing, this thorough instruction manual demonstrates how businesses can reduce dangers and develop into extra adaptable whilst dealing with such issues. specialists within the box provide own perception and spotlight the function that HR execs play in fit companies, taking into account higher administration of profitable and rising organizations.
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Some companies are reluctant to embrace innovation, sticking with programs and formulas that originated and thrived under more vigorous markets because it’s what their peers are doing,” says Ellie Sullivan, director of WRRI’s Consulting Services group. ” Other noteworthy survey findings include: ■■ More companies are enforcing selection of pre-screened brokers (up to 65 percent in 2008 from 61 percent in 2007), minimum marketing periods (up to 85 percent from 70 percent), and list-price guidelines (68 percent over 62 percent), in an effort to fortify their employees’ sales and marketing efforts.
Internal advocates help former employees navigate services and sourcing opportunities. With a goal of redeploying talent within the organization wherever possible, advocates possess skills appropriate to those they try to help. For instance, an advocate assigned to a technology worker knows and understands the industry and its needs. In addition, an HR person “reaches out directly to every employee through personal phone calls and other contact,” McGough says. Wachovia also trains its managers in how to deal with transitioning workers.
19 The Difference between a Furlough, a Layoff, and a Reduction in Force Will It Work? Retirement planning education won’t motivate everyone, of course. Salisbury says the employer must keep in mind that only 25-30 percent of participants will take advantage of the education. Nonetheless, employers must reach out to those who will take advantage of what’s offered, providing tools and information they can use to make sensible financial planning decisions now and to avoid taking actions that may hurt them in the long run.