I found the recent Watson Wyatt report on Employee Engagement very interesting. Indian employees were found to have the highest employee engagement score (78%) the survey in Asia Pacific. The three main drivers of employee engagement were customer focus, compensation and benefits and communication, that too across companies.
In the current scenario, attracting critically skilled talent and retaining it is a constant challenge for most companies. This gives organizations the much needed competitive advantage in the market.
It has been found that factors which attract employees to an organization are
the nature of work, stress levels, career development opportunities, pay and job security
Career development is an area in which most appear to companies struggle.
Designing reward programs has become a focus for many companies which are making
increased investment in annual merit increases, learning and training, increased investment in incentive earning opportunity for employees, recognition programs and providing accelerated career opportunities. However, there is negligible increase in benefits. Unfortunately most companies fail to make employees aware of this investment.
Wednesday, July 23, 2008
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Women in the Boardroom
A recent study conducted by New York-based not-for-profit organization Catalyst has revealed that companies that hire more women at senior executive positions stand to improve financially.
It wqs found that companies which had at least 30 per cent women on the board performed better. Also, boards that had more women in 2001 saw their numbers rise further by 2006, indicating that women on top bring in more women.
Catalyst based its study on an analysis of 359 Fortune 500 companies starting in 2000 and thereafter once again in 2006. Companies with maximum women directors and corporate officers also showed improved financial numbers as against companies that lacked women at the top.
The study also said that the number of Fortune 500 companeis that had more than 25 per cent or more of women, was also growing in numbers consistently. While only 30 companies fitted the bill in 2001, the number went up to 68 in 2007.
In Feb 2008, PepsiCo's India-born chief Indra Nooyi was among Forbes' list of 10 best women chief executive officers of large corporations based on their total return to investors since each woman took the top job.
Forbes gives top rank to Catherine Burzik, head of Kinetic Concepts, a medical technology company, and number two to Meg Whitman of eBay, the online marketplace. PepsiCo under Nooyi, who took over as CEO in October 2006, gave investors annual return of 9.4 percent, and 13.1 percent cumulative. Standard & Poor (S&P) annualised return is 2.6 percent while industry average annualised return is 0.4 percent, according to the magazine.
Paying a compliment to the women CEOs on the list, Forbes magazine said stock performance had as much to do with corporate leadership as it had to do with the state of the marketplace.
The magazine said of about 1,000 public companies with at least $1 billion in annual revenue, there are 30 female chief executives in its database. A dozen of these companies have shown total returns greater than their industry peers, with a minimum length of time in office of the CEO of a year and a half. Nooyi's strategy and style of functioning at the global food and soft drinks behemoth has been analysed by Fortune magazine in a cover story in its current issue.
The magazine had earlier rated her the world's most powerful businesswoman in 2006 and 2007.
It wqs found that companies which had at least 30 per cent women on the board performed better. Also, boards that had more women in 2001 saw their numbers rise further by 2006, indicating that women on top bring in more women.
Catalyst based its study on an analysis of 359 Fortune 500 companies starting in 2000 and thereafter once again in 2006. Companies with maximum women directors and corporate officers also showed improved financial numbers as against companies that lacked women at the top.
The study also said that the number of Fortune 500 companeis that had more than 25 per cent or more of women, was also growing in numbers consistently. While only 30 companies fitted the bill in 2001, the number went up to 68 in 2007.
In Feb 2008, PepsiCo's India-born chief Indra Nooyi was among Forbes' list of 10 best women chief executive officers of large corporations based on their total return to investors since each woman took the top job.
Forbes gives top rank to Catherine Burzik, head of Kinetic Concepts, a medical technology company, and number two to Meg Whitman of eBay, the online marketplace. PepsiCo under Nooyi, who took over as CEO in October 2006, gave investors annual return of 9.4 percent, and 13.1 percent cumulative. Standard & Poor (S&P) annualised return is 2.6 percent while industry average annualised return is 0.4 percent, according to the magazine.
Paying a compliment to the women CEOs on the list, Forbes magazine said stock performance had as much to do with corporate leadership as it had to do with the state of the marketplace.
The magazine said of about 1,000 public companies with at least $1 billion in annual revenue, there are 30 female chief executives in its database. A dozen of these companies have shown total returns greater than their industry peers, with a minimum length of time in office of the CEO of a year and a half. Nooyi's strategy and style of functioning at the global food and soft drinks behemoth has been analysed by Fortune magazine in a cover story in its current issue.
The magazine had earlier rated her the world's most powerful businesswoman in 2006 and 2007.
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