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The interbiznet Bugler

Visit our Jobs In Human Resources Management Section.
May 14, 2009
CEO Financial Fortunes Drop Sharply, Watson Wyatt Proxy Analysis Finds
Economic Downturn Leads to More Than $13 Billion Decline for 80 CEOs Studied

Chief executive officers at many of the nation's largest corporations saw portions of their financial fortunes drop sharply last year as the financial crisis and slumping stock market resulted in smaller annual bonus payouts, diminished ownership values and reduced value for equity holdings, according to an analysis of proxy statements conducted by Watson Wyatt, a leading global consulting firm. (read more)

Quote of the Day

"Men are rich only as they give. He who gives great service gets great rewards."

- Elbert Hubbard



In The News
CareerBuilder announced an exciting new contest that is putting U.S. workers to work on its 2010 Super Bowl commercial. At HireMyTVAd.com, workers can submit 25-second videos to be considered for CareerBuilder's return to the Big Game for the sixth consecutive year. The winning "creative director" will be awarded a "paycheck" of $100,000 and the runner up will earn $50,000. This is part of a bold new direction CareerBuilder is taking in its marketing strategy that builds on the company's long-time investments in social media and user-generated content.

Sendouts and Virtual Software announced full integration of the Sendouts Pro and Virtual Time+Expense platforms. The integrated solution offers staffing companies a comprehensive best of breed solution for managing and tracking placements from first contact to final payroll.

Broadlook Technologies, Inc., the leader in lead generation and Internet research automation for sales, marketing and recruiting, today announced the launch of Profiler X. An evolution in Sales and Marketing Intelligence, Profiler X brings together the best real-time Internet information and combines it with Hoover's insight and analysis on the companies, industries and businesspeople that drive the economy, and popular social networking sites to deliver the most comprehensive real-time view of company and contact information available.

As staff scheduling and onboarding costs rise, Shiftboard's new release of its SaaS Integrated Workforce Management software creates efficiencies that contain costs and increase productivity.

Survey Says

Brand Magnets: Strong Brands Attract the Leadership Talent Critical to Business.
Senior executives know the importance of a strong brand to sales and market leadership. In today's economy, they also acknowledge the extra value added by a strong brand in another key management area: finding and retaining exceptional leadership talent to drive business results and success. (read more)

Survey Says

Economic Slump Pushing Public Sector Employees to Delay Retirement
The slumping economy is holding back retirements among state and local government employees, according to a new survey of government managers, sponsored by the Center for State and Local Government Excellence.

A Tidal Wave Postponed: The Economy and Public Sector Retirements finds that almost half (49 percent) of the respondents to the membership survey said 20 percent or more of their workers are eligible to retire in the next five years. And an overwhelming majority (80 percent) said the economy is affecting the timing of retirements.

Of those, 85 percent said employees are delaying retirements, while only 9 percent said they are accelerating their retirements to avoid changes that will reduce benefits, and 7 percent said employees are taking incentives for early retirement.

"There is a silver lining to the delayed retirements," said Elizabeth Kellar, executive director of the Center for State and Local Government Excellence, which sponsored the survey. "Governments have a lot of older workers who work in specialized fields and are hard to replace. Retaining these individuals a little longer gives us more time to help new employees prepare to fill their shoes."

More than one-third of public employees are 50 or older, compared to less than a quarter in the private sector, Census data show. The public-sector workforce is also far more likely to have had some higher education.

The survey was conducted among 5,125 members of two groups of government professionals: the International Public Management Association for Human Resources (IPMA-HR), and the National Association of State Personnel Executives (NASPE: undefined, undefined, undefined%). About 460 members responded to the electronic membership questionnaire. Some questions elicited more responses than others.

A majority of respondents (56 percent) said their governments do not have a formal plan to develop their workforce, while 39 percent said they did. Of those with a plan, just 31 percent had made changes in their plans, while 54 percent said they had not made changes.

"While the current economic crisis is resulting in delayed retirements, the demographics have not changed," said Neil E. Reichenberg, executive director of IPMA-HR. "When the economy recovers, there will be a spike in the number of retirements as the large number of baby boomers leave. Human resource departments need to lead workforce planning efforts, so that the public sector will be well positioned when the economy recovers."

Among those managers who are seeing retirement delays, a majority (62 percent) said they have more time for knowledge transfer; 51 percent have more time for position transition; and 49 percent have more time to mentor younger workers. On the downside, 38 percent said they are not able to make changes as quickly as they would like; 36 percent said they are unable to hire new staff with skills they need; and 21 percent said they may have to introduce incentives to encourage early retirement.

"The delayed retirements are certainly good news in the short term as governments can benefit from these experienced workers," said Leslie Scott, director of NASPE. "However, when the economy rebounds and the retirement-eligible employees do retire, combined with the layoffs that governments are implementing, this could cause a tremendous strain on their ability to deliver services. In a number of cases, seniority is the sole determining factor in the layoffs, without regard to an employee's specific skill sets and the future needs of government."

Three in five respondents (60 percent) said their state governments are instituting layoffs, with 39 of those saying layoffs are based solely on seniority. By contrast, about 42 percent said their local governments are laying off employees, with 43 percent of the layoffs based solely on seniority.

Read the full survey at http://tinyurl.com/centerretirementssurvey.

About the Center for State and Local Government Excellence
The Center for State and Local Government Excellence helps state and local governments become knowledgeable and competitive employers so they can attract and retain a talented and committed workforce. The Center identifies best practices and conducts research on competitive employment practices, workforce development, pensions, retiree health security, and financial planning. The Center also brings state and local leaders together with respected researchers and features the latest demographic data on the aging workforce, research studies, and news on health care, recruitment, and succession planning on its website, www.slge.org.

About the International Public Management Association for Human Resources
The International Public Management Association for Human Resources (IPMA-HR) is an association representing the interests of state, local, and federal sector human resources professionals. IPMA-HR provides human resource leadership and advocacy, professional development, information, and services to enhance public sector performance. Learn more at www.ipma-hr.org.

About the National Association of State Personnel Executives
NASPE represents the nation's state government human resource management directors and deputy directors and provides a national leadership forum to advance state government human resource management through the exchange of best practices, strategies, and solutions. Visit them on the web at www.naspe.net.

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