Companies are being forced to change their approach to attracting and retaining talent in the light of the global recession.
The recent International HR Barometer survey, polling over 550 senior HR management professionals across 17 countries, conducted by The Scala Group, The ACE Network and supported by international law firm Salans, showed that only 25% of respondents felt that enhancing pay and benefits would assist companies to navigate their way successfully through the downturn. A much higher importance - 63% - was placed on skill and capability development of employees.
The survey also showed that increased communication (65%) and employee engagement (51%) were ranked as the key drivers to ensuring companies were in the best possible position with their staff to not only survive the downturn, but be prepared for the upturn. Interestingly, over 56% of respondents felt that tackling poor performance was still needed in companies.
Janice Caplan, Founding Partner of The Scala Group, comments, “In contrast to previous recessions, UK companies are clearly dealing with the crisis in an increasingly sophisticated way, through focusing on skill and capability development as the means to achieving business recovery.”
Barry Mordsley, Global Co-Head of the Employment Group at Salans, added, “Many companies may have taken the easy road and used cost reduction directives as the reason to tackle poor performance. What the survey shows is that from an HR perspective, tackling employee performance issues head on, at any stage of the economic cycle, remains one of the best ways to ensure business strategy stays on track.”
As part of 750 lawyers globally operating across 21 offices, Salans’ Global Employment Group provides advice and training to a range of clients from small enterprises to multinational groups and their subsidiaries in all aspects of employment law including: restructuring and redundancy, litigation, employee benefits, employment compliance audits, employment practices, disciplinary and grievance procedures and issues, discrimination, employee competition and confidentiality policies, expatriate immigration and visas.
Information about the International HR Barometer Survey
The International HR Barometer Survey attracted 559 responses from senior HR management professionals across 17 countries, and was organised and conducted by The Scala Group and The ACE Network, and supported by the London Employment Group at international law firm Salans. The aim of the survey was to assess the effects of the global economic recession on employers, and the strategies used by them to prepare for the economic recovery. Full copies of the Report are available by contacting Kimberley Turner at Salans on +44 207 429 6218 or Janice Caplan of The Scala Group on 07930 524457.
Information about The Scala Group
The Scala Group is a UK-based HR consultancy, operating internationally, and specialising in Talent and Organisation Development. See
www.thescalagroup.co.uk
for further information.
Contacts
Janice Caplan, Founding Partner - The SCALA Group
E: janice@thescalagroup.co.uk
T: +44 7930 5244457
Barry Mordsley, Partner - London
E: bmordsley@salans.com
T: +44 20 7429 6000