- In This Issue
For Developing and Keeping Top Talent, Four Trends in Human Capital Emerge
Aon’s first-ever 2009 Client Symposium tackled the toughest human capital challenges facing companies and organizations today
3 Appropriate pay and rewards for employees need to be determined.
Shrinking profits and declining stock values have limited the tools employers have to reward employees. For most industries, there is the very real prospect of downsizing, pay freezes, zero bonuses, underwater options and performance plans that have little chance of paying out now or in the near future. The old benchmarks don't apply.
Meanwhile, employee and employer concerns often appear to be at odds. Employers need to control costs, increase productivity, and maintain a talented workforce, while employees expect an improved standard of living, promotion and better rewards in exchange for strong performance.
THE CHALLENGES: Many companies have found that relying on compensation alone to attract employees and reduce turnover doesn't work and is too costly. Given these conditions, how do employers find the "right" level of compensation for the level of contribution and performance? How do they find new ways to reward employees in a tough economy?
4 The search is on for the next generation of leaders & leadership.
The global economic crisis is putting increased emphasis on business leadership strategies. Globally, more than 30 million managers and leaders will retire in the next five years, challenging companies to find new ways to attract and develop a new generation of leaders. The projected "brain drain" is a clear concern.
The anticipated leadership shortage also has put pressure on companies to recruit high-potential talent so that they have deep pools from which to fill open positions. Employers also are trying to determine their succession risks.
THE CHALLENGES: Which partner relationships would be at risk if key leaders left? What would be the cost to the organization and its reputation if a key executive left?
As the Aon 2009 Client Symposium confirmed, there are no simple answers and certainly no "one size fits all" solutions to the challenges firms are facing in the current global economy. But Aon can help your organization weather the economic storm and come out stronger and more adept at meeting any and all issues and concerns now and in the future.
Through flush times and economic downturns, smart thinkers will keep your business moving forward. So how do you engage them for the long haul?
Investing in fresh ideas, opportunities and products comes with uncertainties. But not doing so will certainly limit your business’s future
Aon's 2009 Benefits and Talent survey spotlights areas of importance for the years ahead