Senates Unemployment Benefits Fail US
Senates Unemployment Benefits Fail US
CSRlive Commentary -- 07.13.2010 -- Over the last week there has been countless stories covering the filibustering on the unemployment extension legislation. The Senate's fourth attempt this month to pass an extension of federal unemployment benefits failed a cloture vote. The standalone bill would have extended benefits for six months. But how do HR departments deal with the concerns over the influx of applications for roles and employee concerns?
As the economy begins to improve thanks to government pay outs companies are once again beginning to re grow staffing levels. The demand for highly skilled staff is at an all time high and recruiters can at last pick and choose from record breaking numbers of applicants. Companies such as those who are set to make up the NG HR US committee are now focusing on doing more with less, attracting and retaining talent. Those leading companies who rode the wave of the economic crash also want to achieve a positive work life balance to ensure both sustainability and growth in order to remain competitive.
"It was a commitment that we made, because keeping people focused on creative work and keeping people focused on innovation, inherently requires them to take risks. In an environment where people are fearful they will not take risks, and we just cannot afford to let the creativity or innovation that drives this entire company in any way be affected by the uncertainty and fear that the outside world has created over the last 18 months." Dan Satterthwaite - Head of HR for DreamWorks
Executives such as Capital One's - Brian Gruber, VP HR Technology, Coca-Cola Enterprises - Pam Kimmet, SVP HR, McDonald's - Rich Floersch, EVP HR, Virgin America - Frances Fiorillo, SVP People, Hilton Worldwide - Matthew Schuyler, Chief HR Officer will be speaking out at the NG HR US summit (hosted by GDS International) on the challenges they are faced with in the US; they state that the key to formulating a successful organization is aligning both HR and organizational strategy while minimizing costs.
"The most important asset a company has is its manpower, and as the economy begins to bounce back, the war for talent will be more prevalent than ever. In order to remain competitive, forward thinking companies must stay ahead of the game and implement strategies and solutions that address these pressing challenges."
Capital One representative also argued that there will be an increased rise in the use of software-as-service products within HR. This will take more than 20% of market share by the end of 2010, with challenging implications for well-known ERP suppliers such as Oracle and SAP. Cheaper, more flexible systems that are easier to set up and use can only be good news for HR professionals and help them to automate processes and focus on more strategic goals.
The last 18 months have been full of trials and tribulations for most CHRO's (Chief Human Resource Officers). They were at the front and center of their companies' crucial cost cutting initiatives, in part leading to the debates over the recent refusal of the unemployment extension legislation it will now be down to them to capitalize on the business opportunities from the improved economic environment.
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