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| WORKLIFE NEWS ALERT : October 2008 | |
| Career development and management news from Worklife International | |
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In this issue:
Latest HR stats A recent study by the Institute of Corporate Productivity on workplace productivity found there are four critical areas which impact on employee productivity: culture (79%), leadership (76%), employee engagement (56%) and health/wellness programs. Quote of the month
"Making the simple complicated is commonplace, making the complicated simple, awesomely simple, that’s creativity,” Source: Charles Mingus, musician
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A word from the MD, Peter Tobin The pressure that the global economy currently faces is getting a lot of airtime on our TVs, in our newspapers, and on radio. Organisations, executives, employees, and mums and dads are concerned how they may be impacted. As we all tighten our belts, this is an opportune time to look at how the threat of cost-cutting and, in some cases, corporate restructuring may impact business, our economy, and the careers of many people. I hope you enjoy this issue of Worklife News Alert and if you have any comments and suggestions please let us know. Click here if you'd like to send us your thoughts now. Dear WorklifeEach month Worklife answers your career development questions. To ask us a career development question, simply click here now. This month's Q&A looks at the impact of an economic downturn on the workforce. Q: What people management lessons were learned from previous economic ‘tough times’ in the 80’s and 90’s? A: This is a great question and Worklife will address three lessons that many organisations learned during corporate restructuring and downsizing in the past two decades. Those lessons include: 1. Identification and retention of key contributors; This month we look at the value of identifying and retaining team members that are key drivers and contributors. Often when an organisation starts to rationalise its workforce a wave of fear spreads through everyone in the organisation, a "Who’s next?" and "Am I safe?" type of mentality. As fear takes hold and gossip spreads throughout the workforce, many team members look for options outside the current organisation. Of those who look outside for new opportunities, the most qualified, most experienced, and greatest contributors are snapped up by competitors. Organisations must analyse their workforce and identify team members who we call 'must retain' – individuals and roles that the organisation needs to survive. Once the ‘must retain’ individuals are identified, the organisation needs to speak with these team members and make them aware of the desire to retain them. Poor communication leads to many ‘must retain’ team members leaving organisations during difficult times. Effective communication of the organisation’s position, ongoing viability, and management’s desire to retain key contributors can retain individuals, maintain and grow the organisation’s intellectual knowledge, and reduce expenses if the role needs filling once the ‘must retain’ team member moves on. But organisations must remember the general population of team members. These employees may not be future leaders, or demonstrate high potential, but consistent productivity and commitment to the organisation must be recognised. Feature article: Confronting the talent crunch As the tightening economy takes its toll on Australian organisation, human resource teams need to consider the changes in global demographics and declining workforces. No longer do employers have the luxury of laying off 5,000 employees with obsolete skills one day and taking on 5,000 new employees with the right skills the next. In this whitepaper, Manpower looks at the need for employers to start strategically retaining and retraining potentially useful and adaptable staff, even if they don't have immediate roles for them. To download this whitepaper, click here now.
It's touted as the home page for the world's business leaders, and Forbes' website has a broad depth of information including a section on leadership which covers careers, compensation, innovation and management, among other areas. To check out forbes.com click here now or go to www.forbes.com.
What's happening at Worklife this month? This month we are preparing for the next Career Coach Certification Program (CCCP) which will be presented in Sydney on 27 to 29 October. Places are filling up fast, so contact Worklife on 02 8968 9302 for more information or email info@worklifeint.com.
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Telephone: (02) 8968 9368 or Email: info@worklifeint.com
