Randy Pendleton’s Workplace 2004 update makes some interesting points for planners:
- Pricewaterhouse Coopers asked CEO’s of small to mid-size companies to rank the factors under their control which were most critical to success in the next twelve months. Retention of key workers ranked number one in a report issued in March of this year. Accenture reported that forty percent of U.S. workers plan to leave their current job within the next five years
An AOL survey showed that 58% of 5,000 respondents said they "may" or "definitely" will start a job search when the economy improves. The ability to retain staff was the number result of mistrust in the Trust Factors @ Work™ study conducted by Pennington Performance Group in cooperation with Pilat NAI and IRI Consultants to Management.
How are your reward and recognition programs doing? Sounds like now is not the time to cut back.
- Sarbanes-Oxley has led to change. This new corporate accountability will set the stage for broader change. The push for integrity will expand from public companies to organizations and institutions that operate within the public interest. Corporate boards will hold executives more accountable for meeting goals and maintaining the trust of all constituencies. Non-profit boards and privately held corporations will voluntarily adopt higher reporting standards
The New York Attorney General is leading an effort to require non-public organizations in that state to comply with Sarbanes-Oxley, and board members in a variety of non-profit organizations are expecting higher levels of accountability.
Get ready. If your organization isn’t already scrutinizing your department’s spend patterns, you can be pretty sure they will be soon.
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