By Debbie Bolla, Executive Editor
Confidence. Competition. Potential. Doing what you love.
These are a few words and phrases that made a lasting impact after my deep-dive discussion with four HR industry leaders at the HRO Today Forum this May. The quartet that joined me on stage (pictured above):
• John Wilson, Founder and CEO of WilsonHCG
• Sue Marks, CEO of Cielo
• Paul Harty, President of Seven Step RPO
• Gene Zaino, President & CEO of MBO Partners
Employee confidence levels are seemingly up, said the foursome—and forward-thinking organizations need to get in the game and take advantage of that confidence. To Wilson, competition between organizations is a signifier of an improved economy. Companies should consider how willing they are to get and keep the talent they want.
Re-Calculating the HR Equation
By Elliot H. Clark, CEO
We just held the 2014 HRO Today Forum in both North America and in Singapore. We are thrilled and gratified at the level of engagement of our audience and thankful for the opportunity to advance the practice of HR. We are also appreciative of the ongoing support of our sponsors, who are the most sophisticated HR services and technology companies in the world. Don’t miss the industry’s only global HR Forum in Edinburgh, Scotland, Nov. 11-13.
The theme for all of the HRO Today Forums is the HR Value Equation. Expressed in this form: Great HR + Great Workforce = Great Business Outcomes
It is an intuitive expression. If you have a great workforce this is due to better workforce policies. Your great workforce will produce better products, give better services, and achieve better business outcomes.
The 2014 HRO Today Awards winners are innovating their way to strategic partnerships.
By Russ Banham
Over the past generation, the people heading up HR in many organizations have become key strategic partners to their respective CEOs, entrusted to lead diverse workforce initiatives to improve talent acquisition and retention, spur business growth, enhance sustainability practices and cultivate a workforce culture that differentiates the organization.
These CHROs are transforming HR in an era where vital skill sets are increasingly difficult to come by and hold, when global outsourcing decisions have never been more complex and challenging, and when the economic environment has demanded greater cost-effectiveness, particularly with respect to finding a balance between retained labor and outsourcing. Workforce innovation is now a strategic imperative at many enterprises, and it is the CHRO who is in charge of achieving and nurturing it.
The gathering of our annual Forum equaled great business outcomes.
By The Editors
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CEO's Letter: Announcement from SharedXpertise
I would like to take moment to announce the departure of Faye Holland, our Managing Director for the EMEA and APAC regions and the Global Executive Director of the HRO Today Services and Technology Association (formerly HROA). Faye has been with SharedXpertise for more than five years and made a great contribution to our organization and to the larger HR community through her dedication and commitment. Her desire to achieve some other goals in her personal and professional career is understandable and we wish her best of luck in her future endeavors. She will be leaving on July 1 and will, in the interim, transition her association responsibilities to Zachary Misko, the new Global Executive Director of the Association and Vice President here at SharedXpertise.
Zachary Misko is well known to this community and the readers of this magazine.
Organizations are using behavioral science to increase employee satisfaction, retention, and leadership potential.
By Jason Taylor
Every employee within an organization has a career arc that is referred to as the employee life cycle. Some employees have a very short life cycle, while other employees find opportunities that fulfill their career objectives for the long term. There are both benefits and challenges to lengthening the employee lifecycle. Organizations that have employees with improved job satisfaction often experience increased retention and reduced turnover. But to achieve this, companies needs to deliver their workforce with growth opportunities, personal development, and upward mobility.
Behavioral science provides a method to bridge the gap between the employee’s and the organization’s needs. A short definition of behavioral science is the compilation of on-the-job core behaviors for a specific position which are then used to recruit, select, onboard, and develop hires in those target positions.
What to do if officials make a ‘visit.’
By Deborah Castellani
While 401(k) plans continue to grow in popularity, so has the • immense scope of complexity surrounding compliance. Lately, there’s more attention and scrutiny from regulators and lawyers, making it imperative for plan sponsors to understand their fiduciary roles, the overall process, and how to safeguard themselves before an examination.
Who are the regulators? Under the Employee Retirement Income Security Act (ERISA), Congress tasked its interpretation and enforcement to three distinct regulators: the Internal Revenue Service (IRS), Department of Labor (DOL), and the Pension Benefit Guarantee Corporation (PBGC). The PBGC is primarily focused on defined benefit plan funding and insurance requirements, whereas, the IRS and DOL, have major roles in the ongoing oversight and examination of 401(k) plans.
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