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(Extracted from a Mercer whitepaper "Managing human capital in unprecedented times" - 2009)

This is a must read for all Executive Managers and HR professionals!!

While Australia has not escaped the global economic turmoil, it has not been as deeply impacted as many other developed nations. However, economic pressures are forcing many Australian businesses, and their HR leaders, to make some tough workforce decisions and increasingly do more with less.

Within this whitepaper, the following areas are addressed:

1. Adjusting human capital investments in an economic downturn

“The anticipated investment in areas such as talent management and leadership succession clearly indicates many Australian organisations recognise how critical it is to proactively manage and allocate key talent to navigate through these difficult times. These companies also understand that workforce decisions must be underpinned by the necessary data and information, not just cost cutting objectives.”

2. Managing salary and reward budgets

(Achieving more with less)

3. Leadership and talent management

(Right people, right roles, right time)

“Keeping the right people in the right job at the right time, at all levels of an organisation, could be the determining factor in whether a business survives the economic downturn. At the very least, it will effect how quickly a business can recover.”

“Leaders are one of the most effective levers an organisation has when implementing change or engaging its workforce”

“ Organisations are going to increasingly require and rely on leaders who can get the balance right between ensuring employees have the right skills and capabilities to “get the job done”, whilst being tough enough to intervene on employees making the least contribution to the organisation.”

4. Managing executive remuneration in unprecedented times

Effective leadership and people management practices have never been as critical to achieving business goals as they are right now and clarifying purpose and objectives before taking action is absolutely fundamental.

Read the whitepaper in full....

“Management is doing things right; Leadership is doing the right things” - Peter F Drucker

There is much discussion about “Leadership” and it comes as no surprise that business leaders now regard the development of leadership attributes in their organisations as the highest priority.

So how can an organisation effectively develop leaders to cater for its future growth?

The answer is by creating a Leadership Pipeline that will provide managers and supervisors with relevant information that will increase their confidence to effectively manage their direct reports on a day-to-day basis.

Read the article in full....