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Q&A with
Jeffrey Swerdlow, CBOK Project Manager
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Code #A057
Interview by
Martha Johnson (Institute of Internal
Auditors)
CBOK Results will Ensure that Internal
Auditing Remains a Relevant Profession
The Institute of Internal Auditors Research
Foundation (IIARF) has conducted the most
comprehensive and global study ever
conducted about the internal audit
profession. It has produced a rich database
of information that will be known as the
Common Body of Knowledge. In July 2007, the
preliminary results were premiered at The
Institute of Internal Auditor's (IIA)
International Conference in Amsterdam,
Netherlands as a two-chapter summary titled
A Global Summary of The Common Body of
Knowledge 2006.
Jeffrey Swerdlow, CBOK Project Manager,
shares his thoughts on CBOK and what it will
mean to the internal audit profession.
As the project manager for CBOK what was
your biggest challenge?
CBOK
is the largest project ever undertaken by The IIARF.
Because of the potential impact of CBOK, the most
challenging part was initially creating a list of all
the various stakeholders. This is a critical project
management task and is often one of the biggest
challenges in any project.
How was the decision made to create CBOK and who was
involved in the decision making process?
The
IIA realized that the rapid growth of internal auditing
around the world has drastically changed the picture of
how the profession is practiced. Although we know what
we believe internal auditors should be doing and we have
studied pieces of what kind of work they do, there was
no “big picture” in place to look at the overall state
of the profession around the world. For The IIA to
remain the leading advocate of the profession, it is
critical that we understand exactly what is happening
with internal auditing around the world.
This
provided the momentum for The IIARF to begin looking at
what it would take to capture the state of the internal
auditing profession around the world. At the same time,
our past President, William Bishop, III, CIA passed away
and a memorial fund was set up to honor his legacy.
Everyone at The IIA knew that Bill was an ardent
supporter of internal audit research and that this kind
of study would provide a fitting tribute to his legacy.
How do you plan to release the results of CBOK?
The
initial results from CBOK will be released in several
formats:
· Each
Affiliate that participated in CBOK and had a
statistically significant number of their members take
the survey will receive a customized report detailing
all of the responses from their members. In this manner,
we hope our affiliates will use the information to
further educate their members and promote the profession
in their geographic areas.
· At
the International Conference in Amsterdam, we will be
releasing a special Preview Edition of A Global Summary
of the Common Body of Knowledge 2006. This will act as a
preview of the complete research report which will be
available later in 2007. The complete research report
will provide a global-level summary of the findings from
the study.
· CBOK
will provide data to our international committees and
our staff so that they may begin to utilize this wealth
of knowledge to enhance the profession and The IIA. We
are committed to providing all areas of The IIA with the
data they need to more effectively service our members
and the profession.
We are
very fortunate to have had a talented team of 14
researchers from around the world who worked on CBOK. I
am especially proud of our lead research team, Priscilla
Burnaby, Susan Hass and Mohammad Abdomohammadi, who did
an amazing job working with all of the data and
compiling it into a global summary.
Furthermore, we had over 100 internal audit
practitioners from around the world review our findings
and provide feedback and comments. Each comment we
received was evaluated and the fact that so many people
have provided us with feedback means that the complete
research report will be much stronger.
What thought process was used when developing the survey
questions for CBOK?
The
researchers first performed an extensive literature
review of past studies and surveys. We also spoke at
length with all the various stakeholders in the project.
We then compiled the results and began to mold it into a
survey. When writing the questions, we kept asking
ourselves, “What information will this question provide
us?” and “How will this information be used?” If we did
not believe that the information from a question would
be useful and actionable, we removed or adjusted the
question.
What are some of the “fast facts” about CBOK?
I am
very proud to say that CBOK 2006 is the largest and most
complete study of the internal auditing profession ever
to be completed. In fact, when compared to previous
studies, CBOK 2006 has no equal.
We
received over 15,000 responses to our surveys. After
extensive data cleansing with the help of an independent
statistical consultant, we ended up with a final
database with 9,366 respondents. Responses were received
from every continent on the planet with the exception of
Antarctica.
We had
responses from 144 of our chapters in North America and
responses from 90 of our IIA Affiliates from outside
North America. CBOK was delivered in 17 languages
(English, Spanish, French, German, Portuguese, Italian,
Swedish, Polish, Bulgarian, Czech, Russian, Turkish,
Arabic, Traditional Chinese, Simplified Chinese,
Japanese and Indonesian.)
What do feel was the biggest accomplishment with CBOK?
By far
the biggest accomplishment was the truly global nature
of the study. In fact, we received more responses from
outside North America than from within North America!
The IIA is determined to be the global voice of the
profession and CBOK has demonstrated our commitment to
world-wide engagement. I must thank all of our Affiliate
organizations, as they are the true reason we had such
great global participation. I am proud of our
partnership with them on this project and I hope that we
will continue to build on this accomplishment.
Will CBOK be repeated?
Our
current plan is to repeat CBOK every three years. We
hope to expand the project each time to represent the
evolution of the profession. Future studies will allow
comparison to the CBOK 2006 database and will show us
trends in the profession.
Five
Mistakes That Can Sabotage Your Job Search
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Code #A058
by Cindy Kraft, The CFO Coach
July 18, 2007
Excerpted from the July issue of
Futures in Finance
In today's competitive job market, it is
imperative that you distinguish yourself
from your competition. If you consider that
an estimated 20 million resumes fly through
cyberspace and the traditional mail system
daily, and hundreds if not thousands of
candidates are vying for the same positions
you are, how are you unique? What is your
clear and compelling value proposition? What
do you bring to a prospective company that
your competitors do not?
Job search candidates who rely solely on
traditional job search methods tend to stay
unemployed longer than job seekers using
more creative and riskier job search
methodologies. According to statistics from
the Harvard Business School and Forrester,
the average ROI on an Internet job search is
4%—so you can expect four interviews for
every 100 resumes you send out. Since the
average senior executive spends 21.6 weeks
in an “active” job search, it’s easy to see
that having a well-balanced job search plan
is critical to being successful.
There
are many ways job seekers sabotage their search efforts.
As humans and creatures of habit, we tend to get in our
comfort zone and stay there. The biggest mistake for all
of us is to keep doing the same thing we've been
doing—even when we are not getting the results we want.
If you
are not getting the kinds of interviews and job offers
you feel you should be getting, perhaps one of these
common job search mistakes is the culprit.
1. Lack of a clear and realistic career focus.
This
is a two-fold problem. Either a job seeker is desperate
and “will take anything” and responds to any job whether
he is a fit or not. Or, a job seeker doesn’t know what
he wants to do and, using a vague me-centered objective,
expects that a company can figure out where he’s a fit.
An
Executive Profile that focuses on the value a job seeker
brings to an organization is critical to forwarding the
process. Think niche. Position yourself as knowing a lot
about a little rather than a little about a lot.
2. Failure to identify and quantify marketable skills.
A
clear career goal by itself is not enough. An employer
looks at a job seeker’s “documented track record” in
relation to his own bottom line.
The
question a job search candidate needs to answer is, “how
have my contributions positively impacted my employer.”
Delineating and quantifying those accomplishments,
versus listing a chronology of job titles and
responsibilities, will distinguish you from the
multitudes that rely on what they did rather than how
they delivered.
3. Inadequate marketing documents. (Resume, cover
letter, follow up letters)
Approximately 80% of job applicants are screened out at
the paper stage. Candidates who fail to understand the
power and importance of compelling marketing documents
significantly reduce the chances of making it through
the initial screen and therefore, increase the time they
remain unemployed.
It is
not unusual for a job seeker to have 20 to 40 interviews
before getting “the” job. In order to get interviews,
your marketing documents have to sell you as a valuable
asset rather than an all-purpose commodity.
4. Poor references.
How
much thought have you put into choosing and prepping
your references? More than 90% of prospective employers
do reference checks. Inadequate and vague responses from
your references can kill your opportunity, so choose
your references wisely and prep your references by
sharing with them what you feel is most important to the
prospective position and/or the company.
References should be tendered only when there is a job
offer on the table.
5.
Flunking the interview.
When
you open your mouth, does your foot jump in? A whopping
90% of interviewees can’t answer even the most basic
interview questions with confidence. And almost as many
crash and burn during a pregnant pause.
Common
sense tells us that if you want to win the job, you need
to ace the interview. Winning the offer requires
thorough research, preparation, and
practice—practice—practice. Don’t tell what you did,
sell how you impact.
Of
course, the best positioning is to be the hunted rather
than the hunter. A career plan … just like the business
plan for your company … outlines where you want to be in
3-5 years with a clear strategy on how you will get
there.
All
rights reserved©
Cindy Kraft
is The CFO-Coach and America’s leading Career & Personal
Brand Strategist for Corporate Finance and Banking
Executives. She is a Certified Career Management Coach,
Credentialed Career Master, Certified Professional
Resume Writer, and Job & Career Transition Coach
effectively positioning clients to outperform the
competition and win jobs they want. She can be reached
via e-mail
cindy@cfo-coach.com,
phone 813-655-0658, or through her Web sites
www.cfo-coach.com and
www.cfo-career-forum.com.
Copyright © 2007 Association for Financial
Professionals. All Rights Reserved.
About team
work
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Code #A059
by
Paul
B. Brown, CFO.com
July 05, 2007
A battery of new management books
attacks the problem of how to get
employees to meld into groups and still
stay focused on the big corporate
picture.
The life of any business manager would
be so much more pleasant if one of the
classic American myths—that of the lone
inventor—were true.
If so,
management could tell the people who work for them to go
to their offices (or cubicles) and stay there until they
came up with something that was both truly great and
that would make the company gobs of money.
But
recent research shows that Thomas A. Edison didn’t do
much by himself; Philo T. Farnsworth can only be
credited as one of the inventors of television; and not
even the Wright brothers deserve all the credit for the
airplane.
If
such geniuses couldn’t come up with their innovations on
their own, what chances do the average Jane or Joe have?
The
sad truth is that people need to work in teams. And the
sadder truth is teams are often less effective than
managers would like them to be. Into that vacuum has
rushed a new crop of books—now in stores or soon to
be—that discuss how to improve the performance of teams.
Read
complete article
http://www.cfo.com/article.cfm/9459265/c_8723953?f=morganinternational
CMA Case
Study: John K. Lau
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Code #A060
It’s not very often that someone makes a
career decision based on a textbook
footnote. Yet that’s just what happened to
John K. Lau, currently CFO of WesTrac China,
a dealer of Caterpillar products. As an
undergraduate student at the University of
Toronto, Hong-Kong born Mr. Lau happened to
see a reference to IMA® and the CMA®
certification in a managerial cost
accounting textbook by Charles T. Horngren,
past ICMA® Board of Regents member. As Mr.
Lau says, “I was really impressed by his
description of IMA, what it does and the
value of being a CMA.” Although he didn’t
become a CMA until more than a decade later,
Mr. Lau still remembers the experience that
made him realize that “getting certified
really makes sense.”
Following his undergraduate studies, Mr. Lau
worked in Hong Kong for a few years before
joining the Asia Regional Headquarters of GE
Healthcare (formerly GE Medical Systems) in
1988. Subsequently, he started the GE
Financial Management Program (FMP) in Hong
Kong and completed the second half of the
FMP in Singapore when the Asia HQ was
relocated there in 1990. Although familiar
with the CMA, Mr. Lau instead was encouraged
to pursue GE’s FMP, which gave him a solid
grounding in management accounting
fundamentals. It was after completing that
program that he remembered IMA.
“In 1991, I
joined IMA, mainly because of the continuing education
opportunities and also because of its affiliation with
the U.S., since I was working for an American company,”
said Mr. Lau.
Fast forward
nearly seven years, and Mr. Lau landed a position at
Rockwell Automation in Beijing, China, where he finally
decided to take the CMA exam in 2001. He used a
self-study method during his annual leave to brush up on
the basics. “My supervisors and peers thought I was a
bit overzealous – all that studying,” he says. “However,
I knew that having the CMA certification could really
help my career and benefit my work on a daily basis.”
That has
indeed been true for Mr. Lau, especially when he later
joined WesTrac China, also in Beijing, first as chief of
staff in 2004 and then as CFO in 2005. “I use my CMA
body of knowledge every day,” he says. “It comes
naturally in the role of CFO, because I need to look at
things from many different angles, not just from the
financial perspective.”
Although he
took the CMA exam in English, he is encouraged by the
translation of the exam into Simplified Chinese, which
he predicts will make it more available to a broader
audience. “The language barrier has been lowered, and
that’s a positive thing, “ he says. “And because
management accounting skills are pretty much universal,
the credential is applicable to a wide variety of
industries.”
Mr. Lau has
emerged as a strong advocate for both IMA and the CMA
credential. He serves on the IMA Board, representing
international membership, and also encourages his
finance peers working in China to consider gaining their
CMA. Currently, in fact, he is sponsoring two of his own
staff members to study for the exam. At his former
position at Rockwell, he helped three professionals
embark on the CMA program. He expects the certification
will continue to be attractive, especially in China.
“Management
accounting skills are very much in demand as foreign and
local companies reach out from the local marketplace and
into more global arenas. The CMA body of knowledge is
very valuable in this regard,” he says.
IMA Moscow
Members Plan New Chapter Formation; IMA
Leaders Observe
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Code #A061
On June 27, 2007, more than 65 IMA® members
in Moscow, Russia took part in a
groundbreaking meeting – to discuss the
formation of a new IMA Moscow Chapter. IMA
has nearly 450 members in Russia, including
more than 100 interested in participating on
a local chapter level. IMA’s Paul A.
Sharman, ACMA, president and CEO; and Jim
Gurowka, international business development
leader, were on hand to provide support to
the enthusiastic group.
“With no other management accounting
association in Russia, there is a need for
IMA and the professional development
resources we can offer to practitioners in
Russia,” said Mr. Sharman. “The idea of
forming a local chapter and the support
we’ve seen has been tremendous.”
While a new
IMA Moscow Chapter won’t officially launch until later
this year, the meeting served as the beginning of the
formation process. At the event, members discussed the
objectives of the new chapter, the needs of management
accountants in Russia and the benefits that IMA can
deliver. The new chapter aspires to be a focal point
for professional development, networking, knowledge
sharing, and an authority on the critical issues of the
profession.
IMA members
throughout the world have access to IMA publications and
other resources available through IMA’s website (www.imanet.org).
Members belonging to a local chapter, though, have the
added benefits of in-person professional education,
leadership development, and other opportunities to
participate at local chapter meetings.
“To create a
successful new chapter in Moscow, or anyplace else in
the world, IMA needs dedicated members who willing to
lead and create,” said Mr. Sharman. “Members not only
support IMA as an organization, but advocate the
important role that management accountants play inside
an organization. IMA members stand for the highest
professional and ethical standards.”
Moscow’s
Chapter Formation Committee is working to meet IMA
chapter requirements and hopes to announce a successful
chapter formation by the end of the year. IMA’s
international chapter base currently stands at 13, with
Turkey, Riyadh, and Toronto joining during the past
year. Mr. Sharman had the pleasure of personally
visiting each of the new chapters and presenting the
official charters.
IMA members
in Russia interested in becoming part of the new Moscow
Chapter may contact Alsou Khairullina at
alsou.khairullina@hocktraining.com
for more information.
Work/Life
Balance Series Part II
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Code #A062
By Maggie C. Moore and Nancy R. Lockwood,
SPHR, GPHR
April 2007
As the global economy continues to dominate
today’s workforce, geographic boundaries are
disappearing. Three global trends—the
internationalization of the workforce,
globalizing of work processes and the
growing presence of foreign firms—are
fueling new work/life balance issues and
challenging organizations to respond to
growing concerns over a lack of work/life
balance among today’s workforce.Globalization
has redefined the concepts of the workplace
and the workday, bringing with it the demand
for a new kind of talent management and more
potential for work/life balance tensions. In
fact, 51% of human resource professionals
cite the increased demand for work/life
balance as a society trend most likely to
have a major impact on the workplace, while
23% believe it will cause a radical
restructuring.2 Part II of this Work/Life
Balance series addresses the ways human
resource professionals can effectively
manage work/life balance from a global
perspective, reviewing the impact of
cultural beliefs and work/life support on
work/life balance and organizational
outcomes cross-nationally.
The
Meaning of Work/Life Balance Globally
Recent
research by Towers Perrin investigating the key drivers
of attraction and retention globally indicates several
similarities among countries—most significantly, a
convergence of employees’ desire for work/life balance.
Across 16 countries surveyed, work/life balance ranked
fourth globally as a driver of retention. As an
attraction driver, the importance of work/life balance
was found to differ by country (see Figure 1), but it
stood out as a key element in attracting talent
globally, ranking second worldwide.3
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Figure
1: Rankings of Work/Life Balance Among
Top
Attraction Drivers by Country |
|
Country |
Ranking of
Work/Life Balance |
|
Canada |
2 |
|
United
States |
3 |
|
Brazil
|
4 |
|
Mexico
|
6 |
|
India
|
7 |
|
China
|
8 |
|
Source: Towers Perrin. (2005). Executive
summary. Winning strategies for a global
workforce: Towers Perrin global workforce
study. Retrieved from
www.towersperrin.com.
|
The meaning
of work/life balance is shaped by country-specific
institutional structures, policies, practices, norms and
culture. The meaning varies by country, both in terms of
the needs and wants of employees and in terms of the
benefits and policies offered by employers. Countries
also differ with regard to how work/life issues have
been addressed, and this affects employees’
expectations. For example, while telecommuting is a
common practice in the United States, employees in
Asia-Pacific locations rarely work from home because, on
average, their residences are very small and not
conducive to working productively.4 Further,
a case study of transnational corporations in the United
States and India demonstrates how work/life policies
differ in design by country. U.S. policies were found to
focus on alternative work arrangements such as flextime,
telecommuting and job sharing, while India’s policies
included supports such as paid maternity leave and
on-site childcare. In both cases, policy implementation
decisions were based on assumptions of what workers in
each country valued. In reality, both countries reported
a desire for a broader range of benefits, with employees
in India wishing for flexible options and U.S. workers
asking for childcare.5
Work/Life
Balance as a Social and Political Agenda
The European
Union (EU) has positioned work/life balance as a social
and political agenda, encouraging governments to
implement policies facilitating a balance between work
and personal life. The EU has also established
organizations such as the European Network of Enterprise
for Health (EfH) in conjunction with private companies
to share ideas and best practices in developing
organizational cultures that support work/life balance.6
Countries such as the United Kingdom, New Zealand and
Australia actively promote work/life balance by
including it as an explicit public policy goal,
implementing targeted campaigns such as
government-developed Web sites to provide information to
policy analysts, employers and employees, and publicly
promoting and supporting employers offering work/life
balance programs. In addition, several countries have
enacted legislation supporting work/life balance (see
Figure 2).7
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|
|
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Figure
2: Legislation Supporting Work/Life Balance |
|
Country |
Legislation |
|
European
Union |
Working
Time Directive |
|
U.K.
|
Right of
parents to request flexible working
arrangements |
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France |
Reduction
of hours in statutory work week |
|
Belgium
|
Introduction of time credits |
|
Netherlands |
Adjustment of Hours Law; Leave savings
|
|
Source:
Adapted from Todd, S. (2004). Improving
work-life balance: What are other countries
doing? Labour Program, Human Resources
and Skills Development Canada. |
A Winning
Global HR Strategy: Flexibility
Today’s
workforce places a high value on flexibility. According
to the SHRM Special Expertise Panels 2005 Trends
Report, organizations offering flexible work
arrangements will have an edge in attracting top talent
now and in the future. The report noted that employee
expectations of flexibility are increasing. Three to
five years in the future, different flexibility options
will be invented, bolstering flexibility as a critical
retention tool.8 One global company—Eli
Lilly, based in the United States and employing more
than 43,000 employees worldwide—views its portfolio of
supportive work/life policies and programs as a
competitive business approach and provides support for
flexible working as an effective work/life balance
strategy for a global workforce. Eli Lilly offers tips
for employers that are considering implementing flexible
working programs (see Figure 3).9
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Figure
3: Three Winning Strategies for Implementing
Flexible Work Programs |
|
• Align
flexible working with your organization’s
core business strategy (values, mission and
philosophy) and position flexible working as
a business aim and aid to achieving business
objectives.
• Provide
employees with choice in conjunction with an
organizational environment where everyone is
valued and respected. Set this tone starting
at the top and ensure that supervisors serve
as role models who “walk the talk.”
• Provide
managers with tools and training to
effectively supervise flexible work programs
among their diverse staff. |
|
Source:
Adapted from McCartney, C., & Evan, C.
(2005). Lilly UK makes flexible working
work. Human Resources Management
International Digest, 13, 5-7.
|
A
substantial body of research supports both the desire
for flexibility among today’s global workforce and the
universal positive impact of flexibility as a work/life
strategy. Research findings from the Families and Work
Institute cite flexibility as one of six criteria for
creating and maintaining an effective workplace.
Further, research consistently indicates that
flexibility positively affects retention, job
satisfaction and employee well-being. Data from the
Institutes’ National Study of the Changing Workforce
found that 79% of employees who did not have flexible
options were very interested in flexible work
arrangements and would use them if they were permitted,
free of negative consequences.10 A survey of
21 European countries by The European Foundation for the
Improvement of Living and Working Conditions found that
the introduction or extension of flex time was the most
desirable initiative with regard to work/life balance.
The survey also showed that flexible work arrangements
resulted in better adaptation of working time to
workload and reduced absenteeism and paid overtime.11
In fact, while flexibility is still a perk to many
employees, experts from the Families and Work Institute
note that “in the future, flexibility won’t be a
program, a policy, a benefit or a perk. It will become
the way we work.”12
Literature and Research
Long Work
Hours and Family Life: A Cross-National Study of
Employees’ Concerns13
This study
investigated the experience of work-family conflict
cross-nationally by examining employees’ emotional
response to long work hours and the impact on work/life
balance among a sample of managers and professionals
based in the United States, London and Hong Kong. The
results demonstrated that the meaning of family varied
by national context, highlighting how a country’s
institutional structures, policies, practices, cultural
values and norms influenced the meaning of family and
the workplace and, in effect, shaped how work/life
issues were addressed. For example, the Chinese
emphasize the importance of the extended family
significantly more than their U.S. counterparts,
increasing the potential for family obligations. Results
support this notion, finding that Hong Kong-based
employees expressed more concern over the impact of long
work hours on their family than did their U.S. or
U.K.-based counterparts. These results caution against a
“one-size-fits-all” approach to work/family issues,
suggesting that multinational organizations should take
into account cross-national differences when shaping and
implementing work/life policies.
A
Cross-National Comparative Study of Work-Family
Stressors, Working Hours, and Well-Being: China and
Latin America Versus the Anglo World14
Past
research has revealed significant cross-cultural
differences in attitudes and behaviors surrounding work
and family, especially when individualistic and
collectivistic societies are compared. To strengthen the
current understanding of how cultural differences shape
work/life issues, this study compared work-family
stressors, work hours and well-being (physical and
mental) across three regions: (1) Anglo (Australia,
Canada, England, New Zealand, United States), (2) China
(Hong Kong, People’s Republic of China, Taiwan), and (3)
Latin America (Argentina, Brazil, Columbia, Ecuador,
Mexico, Peru, Uruguay). Results demonstrated that the
impact of the number of hours worked on work-family
conflict differed by region and that there was a
significantly larger negative impact of long work hours
in individualist regions (Anglos) compared with
collectivist regions (China and Latin America). The
authors suggest that Anglos view long working hours as
detracting from their family life, and it is this
viewpoint that creates high levels of work/family
conflict. Lastly, work/family stressors were found to
influence job satisfaction and well-being across regions
and cultures, suggesting that work-family stress is a
universal issue.
Twenty
Years of Work and Family at International Business
Machines Corporation15
IBM
pioneered its corporate work and family program in 1986,
with a recent five-year global work/life strategy
implemented in 2001, to further promote work/life
balance as a key element in its HR strategy to attract
and retain the best talent globally. The company has
periodically conducted work/life surveys since the start
of the program 20 years ago and continues to solicit and
monitor employee input on work/life issues, initiatives
and policies, with the objective of positioning the
company as a global corporate work/life leader. Central
to IBM’s current initiatives is flexibility—in both when
and where work is performed. The most recent survey
(2004) sampled 98,000 employees in 79 countries on seven
major work/life indices (employee satisfaction,
workplace effectiveness, work/life balance, work/life
culture, flexibility, telework influence and childcare
satisfaction). Results indicated that IBM’s focus on
flexibility was paying off, as the flexibility index
rose dramatically from the previous survey in 2001.
These results were coupled with significant increases in
employee ratings of work/life balance and the positive
influence of telework. Globally, 64% of IBM employees
reported that it was acceptable to work from home one
day per week. However, results also show that working
from home is not widespread everywhere, as only 1% of
employees in Pacific Rim countries reported working from
home. Among employees given the flexibility to work from
home, more than 90% reported that this benefit has had a
positive impact on their productivity.
In
Closing
Managing
talent in today’s global workforce demands innovative
attraction and retention strategies. While employees
differ cross-nationally as a result of varying cultures
and institutional structures, achieving and maintaining
work/life balance are valued globally. Promoting
work/life balance among employees should thus be viewed
as a strategic challenge and imperative for human
resource professionals around the globe. Flexible work
options are one way organizations have successfully
responded to the diverse needs and values of the
changing workforce and have proven to be a key trend in
the future of global talent management.
Endnotes
1
Poster, W. (2005). Three reasons for a transnational
approach to work-life policy. In E. E. Kossek & S. J.
Lambert (Eds.), Work and life integration:
Organizational, cultural and individual perspectives
(pp. 375-400). Mahwah, NJ: LEA Publishers.
2
Schramm, J. (2006). SHRM workplace forecast.
Alexandria, VA: Society for Human Resource Management.
3
Towers Perrin. (2005). Executive report. Winning
strategies for a global workforce: Towers Perrin global
workforce study. Retrieved from
www.towersperrin.com.
4
The Conference Board. (1999). Work-life
initiatives in a global context. The cultural values
will empower your business, 18-25. Retrieved from
www.conference-board.org.
5
Poster, W. (2005). Three reasons for a transnational
approach to work-life policy. In E. E. Kossek & S. J.
Lambert (Eds.), Work and life integration:
Organizational, cultural and individual perspectives
(pp. 375-400). Mahwah, NJ: LEA Publishers.
6
Todd, S. (2004). Improving work-life balance: What
are other countries doing? Labour Program, Human
Resources and Skills Development Canada.
7
Ibid.
8
Society for Human Resource Management. (2005). SHRM
Special Expertise Panels 2005 trends report.
Alexandria, VA: Author.
9
McCartney, C., & Evan, C. (2005). Lilly UK makes
flexible working work. Human Resources Management
International Digest, 13, 5-7.
10
Bond, J. T., Galinsky, E., & Hill, J. E. (2004). When
work works: Summary of families and work institute
research findings. A project on workplace
effectiveness and workplace flexibility. Families and
Work Institute.
11
The European Foundation for the Improvement of
Living and Working Conditions. (2006). Working time
and work-life balance in European companies:
Establishment survey on working time 2004-2005.
Retrieved from www.eurofound.eu.int.
12
Ibid.
13
Wharton, A. S., & Blair-Loy, M. (2006). Long work hours
and family life: A cross-national study of employees’
concerns. Journal of Family Issues, 27, 415-436.
14
Spector, P. E., Cooper, C. L., Poelmans, S., Allen, T.
D., O’Driscoll, M., Sanchez, J. I., et al. (2004). A
cross-national comparative study of work-family
stressors, working hours, and well-being: China and
Latin America versus the Anglo world. Personnel
Psychology, 57, 119-142.
15
Hill, J. E., Jackson, A. D., & Martinengo, G. (2006).
Twenty years of work and family at International
Business Machines corporation. American Behavioral
Scientist, 49, 1165-1183.
Also
in the Work/Life Balance Series:
Part I: Revisiting the Work/Life Balance Agenda
Disclaimer
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Management (SHRM). All content is for informational
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