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Hope you’re all having a sunny summer!

We’ve been hard at work preparing a whole new exciting issue with the IIA’s special interview with Jeffrey Swerdlow, CBOK (Common Body of Knowledge) Project Manager who shares his thoughts on CBOK and what it will mean to the internal audit profession.

We’re also back with Part II of the Work/Life Balance Series. You'll also find resources on the CMA designation, the IMA’s new Moscow Chapter and don’t forget to check out ‘It’s About Team’ for the all important benefits of teamwork.

Send us your questions and comments to newsletter@morganintl.com

Interview

Q&A with Jeffrey Swerdlow, CBOK Project Manager - 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.

Read full story

AFP News

Five Mistakes That Can Sabotage Your Job Search - 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?

Read full story

Cfo News

About team work - 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.

Read full story

CMA News

CMA Case Study: John K. Lau - 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.”

Read full story

IMA Moscow Members Plan New Chapter Formation; IMA Leaders Observe - 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.

Read full story

SHRM News

Work/Life Balance Series Part II - 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.

Read full story

 

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Interview of the month

Q&A with Jeffrey Swerdlow, CBOK Project Manager - 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.

AFP News

Five Mistakes That Can Sabotage Your Job Search - 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.

Cfo News

About team work - 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 News

CMA Case Study: John K. Lau - 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 - 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.   

SHRM News

Work/Life Balance Series Part II - 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

 

 

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

 

 

Figure 2: Legislation Supporting Work/Life Balance

Country

Legislation

European Union

Working Time Directive

U.K.

Right of parents to request flexible working arrangements

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

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.

Online Resources

The Sloan Work and Family Research Network: www.wfnetwork.bc.edu

International Center of Work and Family: www.iese.edu/en/RCC/ICWF/Home/Home.asp

International Labour Organization: www.ilo.org/public/english/employment/gems/index.htm

The Conference Board: www.conference-board.org

Towers Perrin: www.towersperrin.com

When Work Works: http://familiesandwork.org/3w/index.html

Workplace Flexibility 2010: www.law.georgetown.edu/workplaceflexibility2010/

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

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