Line managers not keen on HR

first_imgRelated posts:No related photos. Previous Article Next Article I am an HR advisor for a large UK company and my role is to provide HRexpertise to managers in the business. In practice this means correctingmistakes, fire-fighting, trying to avert costly legal cases and handlingadministration in the knowledge that if I don’t do it, it won’t get done atall. The reality seems to be that managers are not interested in HR. There isno enjoyment left in the job for me and I’m concerned life is the same in everyHR department. Is it time for me to get out of HR? Victoria Wall, managing director, Victoria Wall Associates While it is unfortunate you have experienced the negative impact of devolvingHR responsibility to the line, try not to lose faith in the benefits of thisstrategy. Many large organisations have successfully changed their linemanagers’ perception of HR by making them accountable for managing humancapital. To do this successfully, senior management must communicate the importanceand value of using HR experts, and the negative impact an incorrect decisioncan have on the company from a human, commercial and legal standpoint. I wouldadvise you to remain in HR but work within a company that links its businessplan to its HR strategy and has real board commitment. Peter Sell, joint managing director, DMS Consultancy It is my experience that many companies are unsuccessful at devolving HR to theline. The usual reason for failure is the lack of training given to those linemanagers in people skills. Another issue is the reluctance of the organisationto use the performance management process to ensure a key part of the linemanager’s role is undertaken to an acceptable standard. It is usual for a roledefinition/job description to outline the percentage time the line managerneeds to spend on HR issues. If these are not being undertaken, then that partof their salary is being taken under false pretences. Regarding your career, are you in a position to influence the effectivenessof devolving HR management to the line? If not, then move on to a moreenlightened organisation. Philip Spencer, consultant, Macmillan Davies Hodes It sounds as though your role has become highly reactive to the point thatyou pick up the problems and issues caused by the line managers in thedivisions you support. If mistakes and errors are commonplace it suggests yourexpertise could be used in coaching line managers on best practice. You also state that HR does not feature high in all managers’ priorities.Again this could be an issue addressed via one-to-one coaching or thefacilitation of workshops raising the profile of HR and value it adds. You could seek a fresh challenge with an organisation that values HR orrequires an HR function to be developed. Both provide a reasonable level ofproject work that will rejuvenate your enthusiasm and drive in HR. Also look atsmaller organisations, which may offer you more autonomy in a role andtherefore greater challenges. Line managers not keen on HROn 16 Jul 2002 in Personnel Today Comments are closed. last_img read more

Palæomagnetism of some dolerite intrusions from the Theron Mountains and Whichaway Nunataks, Antarctica

first_imgAs a part of the scientific activity of the Commonwealth Trans-Antarctic Expedition a collection of eight oriented samples was made by Stephenson from dolerite sills and dykes in the region of the Theron Mountains, Shackleton Range and Whichaway Nunataks. The seven intrusions which have been sampled bear petrological affinities with the Karroo Dolerites of South Africa and with the dolerite sills of Tasmania, and are thought to be of comparable age. They intrude flat-lying sediments and show no evidence of post-formational tilting.last_img read more

Can DEB models infer metabolic differences between intertidal and subtidal morphotypes of the Antarctic limpet Nacella concinna (Strebel, 1908)?

first_imgStudying the influence of changing environmental conditions on Antarctic marine benthic invertebrates is strongly constrained by limited access to the region, which poses difficulties to performing long-term experimental studies. Ecological modelling has been increasingly used as a potential alternative to assess the impact of such changes on species distribution or physiological performance.last_img

Guided-Missile Destroyer USS Chafee Deploys to Western Pacific

first_img View post tag: Pacific Families and friends gathered to say goodbye as the guided-missile destroyer USS Chafee (DDG 90) departed Joint Base Pearl Harbor-Hickam Nov. 29 for a six-month independent deployment to the western Pacific.Chafee, commanded by Cmdr. Justin A. Kubu, is deploying under the Middle Pacific Surface Combatant (MPSC) deployment concept in which Pearl Harbor-based ships deploy in support of operations primarily in the western Pacific under Commander, U.S. 7th Fleet. The crew of more than 250 Sailors will conduct integrated operations in conjunction with coalition partners.“The expectations are that we quickly integrate to the operations in the western Pacific and that we perform our mission as well as we’ve been trained,” said Kubu. “I want to make sure that we continue to execute our daily routine, that the Sailors have their professional goals and their personal goals they are working toward, and that we continue to communicate with our families.”Chafee recently completed training in the Koa Kai 12-1 exercise, which included the Japan Maritime Self-Defense Force’s helicopter destroyer JS Kurama (DDH 144).Lt. Cmdr. Donnie Cates, combat systems officer, said the ship is expected to participate in a couple of multinational exercises.“It’s really exciting,” said Cates. “It will be a combination of some of the training that we’ve been through in the past couple of months.”Marta Riendeau, wife of Chafee’s Weapons Officer Lt. Edward Riendeau, said she felt anxious when the ship departs and hopes that the ship does not get delayed returning home.“Hopefully they have fair weather to sail and that nobody gets seasick,” said Marta. “I look forward to all the interesting things he picks up as presents for the kids.”Guided-missile destroyers are multi-mission anti-air warfare, anti-submarine warfare and anti-surface warfare surface combatants. They operate independently for support of carrier and expeditionary strike groups and surface strike groups. The mission of an Arleigh Burke-class Aegis destroyer is to conduct prompt, sustained combat operations at sea in support of national policy.[mappress]Naval Today Staff, December 01, 2011; Image: navy Back to overview,Home naval-today Guided-Missile Destroyer USS Chafee Deploys to Western Pacific View post tag: Chafee Training & Education View post tag: News by topic View post tag: Destroyer View post tag: Navy December 1, 2011center_img View post tag: Naval View post tag: Guided-missile View post tag: Deploys Guided-Missile Destroyer USS Chafee Deploys to Western Pacific View post tag: USS View post tag: Western Share this articlelast_img read more

Russia: Defense Industry Gets Tax Benefits

first_img Russia: Defense Industry Gets Tax Benefits Share this article View post tag: Naval View post tag: gets View post tag: Defense Industry news View post tag: Industry View post tag: benefitscenter_img View post tag: Navy View post tag: News by topic Russian Government will restructure tax debts of companies engaged in execution of state defense order, writes Vedomosti on March 26 referring to undisclosed federal officials.According to the newspaper, about RUR 100 bln is in question. It is uncertain what portion of that money will be written off and how much tax payment will be postponed. The reason for such large-scale tax benefits is problems that defense-oriented companies face.According to Russian Federal Budget Law covering 2012 and planning period of 2013-2014, the government has a right to write off debts of defense companies either partially or in full. Once the government makes a decision on tax restructuring, this process must start until Sept 2012.In 2011, Russian companies failed to meet commitments on 84 defense contracts to the amount of RUR 42 bln. Besides, defense ministry postponed deadlines of 197 contracts to the sum of RUR 105.8 bln. State Defense Order 2012 will be somewhat RUR 732.5 bln.Largest executors of defense order are United Shipbuilding Corporation, Uralvagonzavod, state-led corporation Rostehnologii, United Aircraft Corporation, Russian Helicopters, etc.[mappress]Naval Today Staff , March 27, 2012; Image: mashural View post tag: Tax March 27, 2012 Back to overview,Home naval-today Russia: Defense Industry Gets Tax Benefits last_img read more

NCUA, bank regulators issue final diversity standards for financial institutions

first_imgThe National Credit Union Administration and federal banking regulators Tuesday issued their final interagency policy statement establishing joint standards for assessing diversity policies and practices of the institutions they regulate.Required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the statement applies to those regulated by NCUA, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Securities and Exchange Commission.Each agency was required to establish an Office of Minority and Women Inclusion (OMWI), responsible for all diversity matters in management, employment and business activities. The act also instructed that each OMWI director develop standards for assessing diversity policies and practices of the entities regulated by the agencies.The final standards are similar to the proposed standards and provide a framework for regulated entities to create and strengthen their diversity policies and practices, the agencies said. These include their organizational commitment to diversity, workforce and employment practices, procurement and business practices, and practices promoting transparency of organizational diversity and inclusion within the entities’ U.S. operations. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Retail Bidding in a big way

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

Inter wins thrilling Milan derby to move top of Serie A

first_img“It’s a special night because in the first half we were in great difficulty like we hadn’t been this season. There was the risk of taking a hammering,” said Inter boss Antonio Conte.”Credit to these lads because they were able to resist the blows which means that we are ready for something good.”It’s absolutely too early to talk about things that we can still dream of today.”Milan had dominated the first half with Inter struggling to deal with Ibrahimovic, who soared above Diego Godin before knocking down for Rebic to tap the opener past Daniele Padelli. Inter Milan moved top of Serie A on Sunday after storming back from two goals down to snatch a 4-2 win over AC Milan in a pulsating derby at the San Siro.Inter pulls level on 54 points with Juventus, who lost 2-1 at Hellas Verona on Saturday, but is ahead of the champions on goal difference thanks to a thrilling second half turnaround after Ante Rebic and Zlatan Ibrahimovic had put Milan 2-0 up at the break.Lazio is just a point behind in third after Felipe Caicedo scored the only goal in a hard-fought win at Parma earlier on Sunday. Stefan De Vrij blocked another cross to deny Rebic a second tap in but Franck Kessie flicked on for a waiting Ibrahimovic to turn in the second.The comeback began five minutes after the break when Brozovic lashed home a stunning volley and two minutes later Mattias Vecino finshed off an Alexis Sanchez pass to level the scores.De Vrij put Inter deservedly ahead with a superb diving header with 20 minutes to go, and after Ibrahimovic hit the post for Milan Romelu Lukaku then headed home substitute Victor Moses’ cross three minutes into injury time to maintain Inter’s charge for a first Serie A title in a decade.Milan’s collapse means they missed the chance to move into the Europa League places and sit 10th.”It’s difficult to explain. The first half was almost perfect, the second half the opposite.” said Ibrahimovic.”We conceded the first goal and the squad lost faith, then conceded a second and everything fell apart.”Inter in the first half didn’t look like a team who were second but then demonstrated why they were after the break.”Topics :last_img read more

For central banks, hope for precision fades amid pandemic uncertainty

first_imgAnalysts feel that shift by the Fed may begin as soon as its meeting next month, though officials for now say the outlook is too uncertain to allow or require precise plans.“Once we have a better idea of what the outlook looks like, what the unemployment rate will stabilize at once it peaks and then it comes back down, then we’re going to be better positioned” to offer more direction about the future path of policy, Chicago Federal Reserve President Charles Evans told reporters last week. “We have the time to think about this.”Policymakers last week got an initial glimpse of the pandemic’s economic fallout when the US unemployment rate hit 14.7 percent, topping the peak in the 2007 to 2009 Great Recession. It was the first full-month tally of joblessness since the outbreak triggered widespread stay-at-home orders in March.It also provides a baseline bit of data for the debate among Fed officials over what to say beyond their current promise that their target interest rate will remain near zero until they are “confident that the economy has weathered recent events.” Central bankers who have spent a generation researching how their words influence the economy and honing the craft of “forward guidance” are now effectively tongue-tied by a health crisis that has no clear destination yet to guide households and investors toward.With everything from depression to a sharpish recovery possible over the next six months, the language from Washington to Tokyo has included broad pledges of central bank support for years to come, but little precision about what will happen next or when. The situation is counter to what a growing body of research says central banks should do in a crisis, and one the Fed in particular may move to correct in weeks ahead as its response to the pandemic approaches a new phase.According to a crisis playbook that was taking shape at the Fed over the last year, that next phase would involve more specific statements about the scope of actions like bond purchases, how those purchases connect to efforts to keep longer-term interest rates lower, and what needs to happen to a sky-high unemployment rate before the central bank even considers slowing down. Other major central banks have been similarly generic in recent communications, offering some version of the now-familiar promise to “do whatever it takes” to get through the crisis.In Japan, that has involved a pledge to keep interest rates low or falling until the pandemic passes. To go beyond that, BOJ Governor Haruhiko Kuroda said recently, “won’t be clear about how long we will keep rates low or possibly cut them,” because the path of the pandemic remains so uncertain.The Bank of England meanwhile veered from previous Governor Mark Carney’s initial effort to tie rate increases to the unemployment rate – a strategy researchers have found to be an effective steer – to the broader, vaguer language of the pandemic era.“However the economic outlook evolves, the Bank will act as necessary,” new Governor Andrew Bailey said last week.Even the European Central Bank, where the accretion of new programs over recent years has built perhaps the most elaborate policy structure among major central banks and the lengthy guidance to go with it, has had to hedge about what to expect.A centerpiece bondbuying program started in response to the crisis will remain under way until the ECB’s Governing Council “judges that the coronavirus crisis phase is over,” a point that may prove difficult to assess or vary across eurozone countries.Unwelcome imprecisionThe lack of precision is seen as necessary given the unpredictable path of a health crisis that was at first downplayed by central bank officials as little more than a short-term disruption – until it hit them full force and in a matter of weeks threw the global economy into recession.Research in recent years, including papers the Fed commissioned as part of a monetary policy framework review, recommended differently: That monetary policy works best in a crisis when officials tie promises of low rates or other actions to reaching specific goals like unemployment dropping to an identified level.Even more effective is if those statements are linked to tools like bond buying to hold down long-term interest rates even if the Fed’s target rate has already been cut to zero, as happened in March.The combination of specific forward guidance and commitment to large-scale bond purchases “can largely compensate” for the limits central banks face once they cut rates to zero, former Fed chair Ben Bernanke said in a speech in January.When a central bank cuts the short-term rate it controls, longer-term rates typically fall too, making it cheaper to buy cars and homes and thus stimulating the economy. But once short-term rates hit zero, if more stimulus is needed then policymakers must either experiment with negative rates, as Japan and Europe have done, or use tools like bond purchases, as the Fed has preferred, to suppress long-term rates.Even though the Fed has resumed bond purchases, it does not liken it to the “quantitative easing” used in the last crisis.Rather, the roughly US$2.5 trillion in securities bought since mid-March have been intended to keep the global market for US debt functioning.The Fed’s first turn in language may come there, to be explicit that it is buying bonds not just to keep market wheels turning, but to provide stimulus with lower interest rates and foster a recovery it hopes will be robust.“That’s another tool that we could use going forward: buying up long-term Treasury bonds to provide more stimulus,” Minneapolis Fed President Neel Kashkari said in an online event last week. “Once we begin to emerge from this then we want to have as robust a recovery as we can.”Topics :last_img read more

Swiss scheme seeks reform to address negative rates, COVID-19 impacts

first_imgThe Swiss occupational pension scheme Stiftung Auffangeinrichtung BVG, or Foundation Institution Suppletive LPP, is seeking parliamentary approval for its request to open a non-interest bearing account that will help fend off the impact of negative interest rates, the impact of the COVID-19 pandemic, and potentially rising unemployment.“We are relieved that the Federal Council has accepted our request for a non-interest bearing account and we hope that parliament will approve the proposed amendment,” the Stiftung told IPE in a statement.The institution, supported by the social partners, is required to accept all vested benefits from pension funds if employees cannot transfer them to another fund after the termination of an employment position.In its draft law, which would reform the second pillar, the Federal Council foresees a temporary deployment of vested benefits to the Federal Finance Administration, or Eidgenössischen Finanzverwaltung (EFV), worth up to CHF10bn (€9.3bn), without interest rates, if the funding ratio of the Stiftung Auffangeinrichtung BVG falls below 105%. At the end of May, the funding ratio for Stiftung Auffangeinrichtung BVG stood at 105.85%, down from 108.7% at the end of 2019The impact of the COVID-19 pandemic on the stock exchanges, negative interest rates adopted by the Swiss National Bank, and the obligation to guarantee nominal value of the vested benefits are taking a toll on the Stiftung.The institution believes that corrections in financial markets, including the one triggered by the coronavirus pandemic, offer more attractive investment opportunities.It tries to seize such opportunities in order to mitigate the result of the investments with negative interest rates, it said, adding that the situation remains challenging, and a new decline in prices on stock exchanges is a real, threatening scenario.Based on the current investment strategy, the foundation’s board is forced to take immediate measures that reduce risk, including a pro-cyclical sale of risky assets (stocks, bonds) and increase liquidity, the government wrote in its message to reform the law.The Stiftung could see a significant inflow of funds because of unemployment, which in turn can lead to a lower funding ratio.“In the medium term, we expect an even stronger inflow of vested benefits due to rising unemployment. For occupational pensions, we anticipate an increase in the bankruptcies of our affiliated employers,” the institution said.In times of negative interest rates, the guarantees for provisions, capital preservation, vested benefits accounts and a statutory conversion rate of 6.8%, is a challenge that can hardly be mastered, it said.In the past, the institution was able to compensate the negative interest on its liquid funds through the returns on other asset classes, and even slightly increase the coverage ratio for vested benefits, from 108% in 2014 to 108.7% in 2019.For Lukas Müller-Brunner, member of the executive board responsible for social policy and social insurance at the Swiss Employers’ Association (SAV), the foundation is in an “almost unsolvable dilemma” caused by the obligation to accept money and the ban to charge negative interest rates.“In this respect, I think it is right that the legislator intervenes, and at least temporarily grants the institution an alternative,” he told IPE.“In this respect, I think it is right that the legislator intervenes, and at least temporarily grants the institution an alternative”Lukas Müller-Brunner, Swiss Employers’ Association (SAV)But the real problems are “structural”, he said, explaining that the inability to control the inflow of money from those insured who immediately join a new pension fund generate an “enormous” volume of capital with guarantee that leads to costs no longer sustainable in the current interest rate environment.The interest of financial service providers in vested benefits is fading due to negative interest rates, he added. The Stiftung Auffangeinrichtung BVG received around CHF1.38bn in vested benefits in 2019. In 2018, the inflow was just under CHF800m, while vested benefits in banks decreased in 2018 by CHF474m.“Interest rates will hardly improve in the foreseeable future, this means that the structural problems at the institution will continue to exist,” Müller-Brunner said.“The current policy approach makes sense in the short term, but does not solve any fundamental problems, and here I see the greatest danger: that one continues to muddle through without discussing the actual causes. In my opinion, there is no way around this,” he said.To read the digital edition of IPE’s latest magazine click here. Once approval is granted, the Stiftung can deposit the money in the new fund for three years, a buffer period to find a long-term solution to its structural problems.“The long-term risk of underfunding becomes very problematic because vested benefits cannot be restructured with negative interest rates,” the Stiftung added in the statement.At the end of May, the funding ratio for Stiftung Auffangeinrichtung BVG stood at 105.85%, down from 108.7% at the end of 2019. In March, the coverage ratio fell to 101.6%.last_img read more