Canadian HR execs may be left scratching their heads about a recent survey of Canadian CEOs.
Asked to rate the human resources management at Canadian organizations, the 300 chief executives ranked Nortel as the third best, four places better than the year before.
This may be surprising given the events of the last year, but Nortel was largely the victim of circumstances beyond its control, said Carl Lovas, chair of executive search firm Ray and Berndtson Canada, sponsors of the survey conducted by Ipsos-Reid.
“When you think about it, this company is responding to a general condition in its market place. Quite frankly, other players are having similar pains and they (Nortel) can be admired for taking the tough decisions that need to be taken to keep that company a player in that industry,” he said.
Nortel still remained a popular choice among CEOs for long-term investment value (number five), and in innovation and product delivery the firm ranked number one.
The company CEOs most respected for its human resources management was Bombardier, followed by Royal Bank, Nortel, General Electric of Canada and BCE.
A decade ago everyone was saying “people are our greatest asset” and generally speaking today, businesses have some understanding of what that means. But then there are some companies that have a much more advanced appreciation of human capital management. Those are the companies that tend to be most successful, said Lovas.
“You can build a new plant and spend $100 million and it can achieve very little or nothing. Or else you can hire a talented executive for $100,000 that will change the business forever.”
Bombardier is a classic example, said Lovas. In just a couple of generations, it has grown into a multinational powerhouse. “They seem to have a great ability to move into a new area of activity and capture a market opportunity that presents itself very quickly. They seem to be able to jump in and bring their human resources to the table very quickly.”
Meanwhile, a complementary study on the people at the other end of the organization reveals some of what the average working Canadian is looking for in a good HR department. Employees say more than an extra week holiday, profit sharing or reduced work weeks, they want improved benefits like broader health coverage and dental coverage, according to the survey of 1,000 working Canadians.
Given a list of possible things an employer could offer to either attract or retain them, 70 per cent said improved benefits would win their loyalty, although an extra week holiday was a close second at 66 per cent. Further back was non-traditional benefits like sabbaticals, education and health-club memberships.
Just 37 per cent said a commitment to fewer hours was important or very important and just 25 per cent said a less formal work environment would help keep them at their job.
Employers may be concerned about the rising cost of benefits packages, but these findings confirm that employees are looking for more balance and quality of life elements, said Lovas. “I wouldn’t be surprised if that thrust is pushed even further when people start thinking about the terrible incidents in New York,” he added.
“All of a sudden it causes you to think about some of the things that you were delaying as it relates to some of your family issues.” The result could be more people looking to spend a little more time with their family now rather than putting it off.
Also of note in the study were respondents’ attitudes toward unions. While the national unionization rate remains at 28 per cent, 21 per cent of non-union workers say, “they would definitely join a union if given the choice.” This means that the potential exists for the national rate to increase to 43 per cent of the national workforce. (The current 28 per cent plus 21 per cent of the rest.)
What’s more, 38 per cent of respondents said that “without unions, workers would not receive the pay and job security that they deserve.”
While the research doesn’t reveal why so many workers want to join a union, Lovas said it could well be reflection of the anxiety many workers were feeling even earlier in the year as the economy softened and newspapers were dominated by headlines about massive layoffs.
Asked to rate the human resources management at Canadian organizations, the 300 chief executives ranked Nortel as the third best, four places better than the year before.
This may be surprising given the events of the last year, but Nortel was largely the victim of circumstances beyond its control, said Carl Lovas, chair of executive search firm Ray and Berndtson Canada, sponsors of the survey conducted by Ipsos-Reid.
“When you think about it, this company is responding to a general condition in its market place. Quite frankly, other players are having similar pains and they (Nortel) can be admired for taking the tough decisions that need to be taken to keep that company a player in that industry,” he said.
Nortel still remained a popular choice among CEOs for long-term investment value (number five), and in innovation and product delivery the firm ranked number one.
The company CEOs most respected for its human resources management was Bombardier, followed by Royal Bank, Nortel, General Electric of Canada and BCE.
A decade ago everyone was saying “people are our greatest asset” and generally speaking today, businesses have some understanding of what that means. But then there are some companies that have a much more advanced appreciation of human capital management. Those are the companies that tend to be most successful, said Lovas.
“You can build a new plant and spend $100 million and it can achieve very little or nothing. Or else you can hire a talented executive for $100,000 that will change the business forever.”
Bombardier is a classic example, said Lovas. In just a couple of generations, it has grown into a multinational powerhouse. “They seem to have a great ability to move into a new area of activity and capture a market opportunity that presents itself very quickly. They seem to be able to jump in and bring their human resources to the table very quickly.”
Meanwhile, a complementary study on the people at the other end of the organization reveals some of what the average working Canadian is looking for in a good HR department. Employees say more than an extra week holiday, profit sharing or reduced work weeks, they want improved benefits like broader health coverage and dental coverage, according to the survey of 1,000 working Canadians.
Given a list of possible things an employer could offer to either attract or retain them, 70 per cent said improved benefits would win their loyalty, although an extra week holiday was a close second at 66 per cent. Further back was non-traditional benefits like sabbaticals, education and health-club memberships.
Just 37 per cent said a commitment to fewer hours was important or very important and just 25 per cent said a less formal work environment would help keep them at their job.
Employers may be concerned about the rising cost of benefits packages, but these findings confirm that employees are looking for more balance and quality of life elements, said Lovas. “I wouldn’t be surprised if that thrust is pushed even further when people start thinking about the terrible incidents in New York,” he added.
“All of a sudden it causes you to think about some of the things that you were delaying as it relates to some of your family issues.” The result could be more people looking to spend a little more time with their family now rather than putting it off.
Also of note in the study were respondents’ attitudes toward unions. While the national unionization rate remains at 28 per cent, 21 per cent of non-union workers say, “they would definitely join a union if given the choice.” This means that the potential exists for the national rate to increase to 43 per cent of the national workforce. (The current 28 per cent plus 21 per cent of the rest.)
What’s more, 38 per cent of respondents said that “without unions, workers would not receive the pay and job security that they deserve.”
While the research doesn’t reveal why so many workers want to join a union, Lovas said it could well be reflection of the anxiety many workers were feeling even earlier in the year as the economy softened and newspapers were dominated by headlines about massive layoffs.
