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Welcome Thursday, September 25, 2008, 11:00am PT / 2:00PM ET Today, your customers expect instant gratification and open interaction. That means:
Join industry guru Pete McGarahan and Consona CRM's Michael Tarbet as we explore the changing landscape of customer expectations, the technology needed to meet those expectations, and the right metrics to measure. All attendees will also receive a copy of the white paper, "The Future of the Customer Experience". Register today!
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September 22 2008  |
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| HP to Cut 24,600 Jobs, Take $1.7B Charge
More than four out of five companies surveyed (85%) have suffered from corporate fraud in the past three years, up from 80% in last year’s survey. For larger companies the proportion suffering from fraud rose to 90%. When you look into the causes of fraud, companies that cited high staff turnover or weak internal controls suffered much higher levels of fraud -- in almost every case increasing their exposure by one-and-a-half times. Companies need to look carefully at how they can address these issues to reduce their risk to fraud and improve their business operations. The fastest growing types of fraud were information theft (27%: up from 22%) and regulatory and compliance breaches (25%: up from 19%), both up by more than five percentage points from last year’s survey. The construction and natural resources sectors suffered the most incidents of fraud, due in part to the continuing rise in oil prices and an industry shift to higher-risk areas. Healthcare, pharmaceuticals and biotechnology saw an increase in problems with corruption and theft of stocks or assets, while travel, leisure and transportation reported increases in regulatory and compliance breaches and information theft or loss. Other key findings include:
Syntel’s survey asked, "What is your company’s primary source of innovation?” Responses:
In today’s global organizations, employees have the advantage of advanced communications to keep them in touch with customers, consultants, vendors and business partners wherever they reside. Employees at all levels of companies hear about and share innovative approaches, learn what works and what doesn’t, and have windows into new thinking not possible before globalization. Companies are tapping these employees’ observations and insights to inform the development of new products and services. In addition, all other sources of innovation listed in respondents’ choices remain valid and important. The urgency to stay innovative in the face of global competition drives management to tap the source of new ideas closest to them. Employees are a powerful source of innovative ideas, and smart companies understand and exploit their unique perspective.
Key Findings:
The shortage of qualified workers has grown more acute, with 59 percent of hiring managers citing it as their primary recruiting challenge, up from 52 percent in 2007. Six out of 10 employers estimate that at least a quarter of the applicants who contact them are not qualified. Thirty-one percent report more than half of applicants are not qualified. Complicating the task of finding qualified talent are spiraling energy costs, hiring managers said. Twenty-nine percent said the rise in fuel prices and commuting expenses has negatively impacted their ability to attract skilled candidates who may want to limit their travel distance to and from the office. As employers manage through these challenges, recruiting has become time consuming, taking anywhere from four to 14 weeks to fill open positions. More than half of hiring managers (56 percent) said Generation Y employees (those born between 1979 and 1999) are the most difficult to recruit, perhaps because of high expectations around pay, career advancement, flexible schedules and overall work environment. When they find qualified professionals, firms appear anxious to win them over. Nearly two-thirds (65 percent) of hiring managers said they are willing to negotiate compensation for top candidates; 19 percent are very willing. Despite not feeling overly confident in job prospects, professionals are increasingly inclined to negotiate better compensation levels as fuel, food, healthcare and other expenses grow. Sixty-three percent said they are more likely to try to negotiate a better compensation package with a new employer compared to 12 months ago. This contrasts with 58 percent in 2007. Companies also expressed an interest in retaining employees nearing retirement age to manage through the exodus of the baby boomers from the workforce. Forty-seven percent are likely to offer reduced work schedules as an alternative to retirement. Thirty-nine percent are likely to offer “bridge” jobs, while 37 percent are likely to offer consulting arrangements.
But one thing is increasingly clear. It's not a choice any longer. Your employees expect it, and your company needs it. What used to be considered good PR, or window dressing for community relations, is in fact linked to how well your employees perform. In other words, CSR extends to the bottom line. Sound like an exaggeration? Not at all. In a Global Workforce Study conducted by Towers Perrin, they found that CSR is the third most important driver of employee engagement overall. For companies in the U.S., an organization's stature in the community is the second most important driver of employee engagement, and a company's reputation for social responsibility is also among the top 10 drivers. This is important because higher employee engagement levels are highly correlated with better business performance as measured by revenue, earnings and other key business metrics. The Global Workforce Study also found that a company's reputation as a good employer ranks sixth as an attraction driver. Organizations with a reputation for CSR can take advantage of their status and strengthen their appeal as an attractive employer by making their commitment part of their value proposition for potential candidates. Some of the world's largest companies have made a highly visible commitment to CSR, for example, with initiatives aimed at reducing their environmental footprint. These companies take the view that financial and environmental performance can work together to drive company growth. This attitude can only serve to enhance the employment value proposition as interest in "going green" gains traction. Tower also found that when employees view their organization's commitment to socially responsible behavior more favorably, they also tend to have more positive attitudes in other areas that correlate with better performance. They believe their organizations recognize and reward great customer service, act quickly to address and resolve customer concerns, and are led by people in senior management who act in the best interest of customers. Confidence in senior management is higher in other areas, too, when employees give their company high marks for being socially responsible. For example, 82% of these employees say their organization's senior management supports new ideas and new ways of doing things. This correlation is important because a company's success in the marketplace is often influenced by its capacity for innovation.
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Building Loyalty in a Web 2.0 World Read the new white paper "Building Loyalty in a Web 2.0 World" and learn how to use the web 2.0 movement to your advantage. For decades the support relationship between a company and its customers was well defined, but the old rules of customer engagement have been replaced by a customer-centric view. Customers now share information and solutions with each other, often bypassing support. Can embracing the movement build customer satisfaction? Learn about:
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| Has Your Office Become too Casual?
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Strategic Staffing: A Comprehensive System for Effective Workforce Planning Many organizations understand the benefits of a longer-term approach to staffing: reduced turnover and hiring costs, improved efficiency and morale, and ultimately greater profits. Unfortunately, traditional approaches to staffing are often more effective on paper than in the workplace. This new edition of Strategic Staffing shows how to identify staffing needs and opportunities through qualitative and quantitative measures, and presents several effective, nontraditional approaches to their hiring needs. For more information, or to order your copy... |
| 2008 Service & Support Technology Showcase Find out more:
Get your free copy of the survey results today! http://www.supportindustry.com/2008supportmetrics.htm |
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