PwC survey: Retention Is Becoming More Difficult During Mergers and Acquisitions

PwC | September 19, 2020

People management, particularly retention, is becoming more difficult during mergers and acquisitions, according to C-suite leaders and senior managers responding to a late 2019 PwC survey. In 2019, 10% of respondents reported "significant success" in employee retention during M&As, compared to 45% in 2016 and 56% in 2010. The results, released in June, also found that 64% of organizations reported having full-time employees in HR dedicated to the transition. The report noted an increasing sense of challenge in navigating the people and organization aspect of integration. Eighty percent of respondents reported this aspect to be "difficult," compared to 58% in 2016. Organizations are also increasingly assigning an executive sponsor to transition teams, an occurrence which PwC said has doubled since its last survey. However, even though 65% of respondents said access to managerial and technical talent was a "very" or "most important" deal objective, only 17% said this objective was "completely achieved." Change management programs are also considered insufficient, according to the report. PwC considers change management to involve seven aspects, and "not one company" reported involving all seven of those drivers. Only 5% said they had three or more.

Spotlight

More than 900 companies participated in national list studies in the 8 Asia-region countries where Great Place to Work© is represented. In 2014, we received over 330,000 responses to our Trust Index© survey in Asia, which represents nearly 1.8 million employees. To be considered for the regional Best Workplaces in Asia list, a company must apply to – and be accepted on – a national Best Workplaces list. To be on a list, we analyse the results of two assessment tools: the Trust Index© and the Culture Audit© Management Questionnaire. Two-thirds of a company's workplace culture evaluation is based on the employee survey; one-third is based on the company's policies and practices, as measured in the Culture Audit. From the companies that met our national list criteria, 303 were eligible to appear on our inaugural Best Workplaces in Asia list.


Other News
WORKERS COMPENSATION

SEB Aligns Global Compensation Processes Using beqom

beqom and SEB | November 18, 2022

beqom—a provider of cloud-based total compensation and continuous performance management solutions today announced the successful deployment of its total compensation solution at Skandinaviska Enskilda Banken AB (SEB), one of Europe’s oldest and most prestigious financial institutions. The bank selected beqom to replace their partly spreadsheet-based processes and manage total compensation for their 16,000 employees across 20 countries. They sought to align global rewards processes, reduce time spent on administrative tasks, and compile compensation data from many different sources that could be accessed as needed by managers and other stakeholders to support informed decisions on a daily basis. “We have a diverse, growing, and highly regulated business and needed a comp system that could cater to our needs, handling both global and local requirements. Our previous system relied on many exceptions and manual workarounds that were time consuming, introduced risk, and created compliance challenges. We’ve been running our total compensation processes on beqom for over a year now, and it has saved our HR comp team a lot of time, reduced risk, helped standardize and align our processes, and provided a great experience for our users. The feedback from stakeholders—managers, HR partners, CFOs in the businesses—has all been very positive.” -Mattias Bergman, Process Owner Variable Remuneration C&B at SEB About beqom beqom is a cloud-based provider of continuous compensation and performance management solutions that deliver personalized total rewards aligned with meaningful behaviors, goals, and skills. The solutions transform how companies reward and recognize their people, attract and retain top talent, and address pay equity and transparency. Managing all forms of employee compensation, beqom unifies all performance and reward processes to create a meaningful, people-centric experience across employee touchpoints, providing feedback, coaching, and rewards. beqom’s fully configurable solution integrates seamlessly into core HR suites, providing companies of any size and industry, such as Mercedes Benz, PepsiCo, Golub Capital, and DHL, with the flexibility needed to execute their performance and reward strategies and make the most of their human capital. About SEB Founded in 1856, SEB divisions include Large Corporates & Financial Institutions; Corporate & Private Customers; Baltic; Life; and Investment Management. Profits in 2021 totaled SEK 30.9bn (3.17b USD, 2.97b EUR), with assets under management of SEK 2.6 trillion (275b USD, 256b EUR).

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HR ANALYTICS,EMPLOYEE EXPERIENCE

Vault Consulting Announces Nonprofit Human Resources Consulting

Vault Consulting | November 22, 2022

Vault Consulting, the nation's leading accounting and research firm, announced its expansion into Human Resources Consulting today. The DC metro-based firm provides a partnership approach to help nonprofit organizations and associations advance their missions to thrive and grow. DC metro-based accounting and research firm Vault Consulting announces expansion into Human Resources Consulting for nonprofits and associations. The expansion is led by Vault's head of Human Resources, Kendra Janevski, SPHR, SHRM-SCP. Vault offers more than subject matter expertise; we deliver a powerful new perspective and a clearer path forward. Vault Human Resources Consulting does not focus on a specific issue or offer only packaged services. The team begins with client challenges and offers customized solutions to the client's individual and specific needs. "It is unique because we offer a suite of complementary services that no other consulting firm does. We equip organizations of all types with the financial acumen to thrive, the HR oversight to drive successful and compliant people practices, and the data-based insights and analytics for actionable intelligence and informed strategic decision making." - Vault CEO Wes Tomer, CPA, CGMA This expansion offers a new but complimentary service offering and will assist clients and partners manage challenges, gain insight into best practices, and establish change management processes.

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HR ANALYTICS

Dandi Emerges from Stealth to End Workplace Bias with First-of-its-kind DEI Analytics Platform

Dandi | October 17, 2022

Dandi Technologies, the analytics platform for advancing diversity, equity, and inclusion (DEI) in the workplace, emerged from stealth today. The company unveiled a first-of-its-kind DEI analytics solution used by people leaders to pinpoint equity gaps in the employee journey and implement data-driven solutions to workforce diversity challenges. The company also announced $3.7M in seed funding led by Springbank and Alleycorp Impact to increase the number of people the platform positively impacts globally. "We believe Dandi can revolutionize the way companies recruit, retain, and compensate their people, Without the right data, people and businesses are left facing the same 'unsolvable' DEI problems year after year, while demands for racial, social, and financial justice from employees, investors, and regulators only grow stronger. Our platform is putting DEI analytics capabilities and insights directly into the hands of more leaders across organizations and making them easy to understand. You don't need to be a data scientist to use Dandi." -Jeff Fernandez, Dandi CEO and Co-Founder Developed by data, design, and DEI veterans working closely with a group of DEI advisors, the Dandi platform is underpinned by advanced machine learning and makes powerful, realtime DEI data easily available and actionable for every company. With Dandi, organizations can: Aggregate and analyze existing HR data to generate millions of DEI insights across the employee lifecycle, including recruiting, hiring, promotions, retention, and everything in between. Leverage intersectional measurement along with sophisticated wage gap analysis to see how interactions between race, ethnicity, gender, age, sexuality and more impact compensation and take meaningful steps toward pay equity. Integrate Dandi with most leading HR platforms, including Workday, ADP, SAP, Oracle, Greenhouse and Taleo, to easily see how factors like age, gender, LGBTQIA+ status, and marital status influence key metrics. Give C-suite executives quick and easy access to critical DEI metrics, updated in real-time, through an Executive Dashboard. Generate custom-branded presentations and export to Google Slides, Powerpoint, and more with a single click. Share easy-to-understand visualization and detailed reports to shine a light on equity gaps so the right people can take action. Employee turnover due to racial bias and unfair treatment has cost U.S. employers $171.9 billion over a five year period, according to research from the Society for Human Resources Management. Despite public commitments to DEI from companies in recent years, barely half of the largest U.S. companies share workforce diversity data. Moreover, only 11% report intersectional data – the gold standard for demographic data reporting. The large majority of companies do not have reliable, accurate measures for bias in place. With existing tools, it's nearly impossible to operationalize the concept of intersectionality. Dandi changes everything by allowing companies to see how these intersections affect the employee journey and take action, said Lily Lamboy, Director of Diversity, Equity & Inclusion at Blue Shield of California. Dandi has an established roster of customers including Fortune 100 organizations like Blue Shield of California, publicly-traded companies such as Oscar Health and Braze, and fast-growing technology companies like Teachable and Care/Of (acq. by Bayer). Dandi is quick to deploy and affordable: starting at only $15 per employee per year, it's priced to work for businesses of every size. In addition to Springbank and Alleycorp Impact, investors including Atlassian Ventures, Impact Engine, Uncommon Denominator, AAF, and Heirloom VC joined in funding Dandi's seed round. As a result of the round, Courtney Leimkuhler, Founder and Managing Partner at Springbank, has joined Dandi's board of directors. Dandi is creating the instrumentation for the workforce of the future. As more firms commit to DEI and as more regulators around the world demand the data to prove it, Dandi is providing essential tools for leaders and their teams. Jeff and the team have an impressive track record and vision, and I'm personally thrilled to be part of their mission, said Leimkuhler. AlleyCorp Impact is proud to co-lead this round and collaborate with its passionate, mission-driven team to position Dandi to be a vital solution in the arsenal of every company that is serious about building an equitable workplace, said Tanya Beja, General Partner at AlleyCorp Impact. Dandi is building the analytics tools to create a more equitable workplace for all teams. We're excited about its growth trajectory as more companies prioritize building data-driven DEI programs. Dandi's mission is deeply aligned with Atlassian's values and we look forward to supporting the Dandi team as it makes powerful demographic data actionable for Atlassian's 200,000+ cloud customers around the world, said Matt Sonefeldt, Head of Atlassian Ventures. About Dandi Dandi is the analytics platform for advancing diversity, equity, and inclusion (DEI) in the workplace. Businesses use Dandi to see—often for the first time—how they recruit, retain, and compensate their people, giving them the insights they need to pinpoint equity gaps and advance their DEI efforts. Through a team of DEI experts and an extended partner network, Dandi also offers the support businesses need to navigate the challenges of becoming fair and equal workplaces. Founded in 2017 by HR, DEI, data and design veterans, Dandi's mission is to make business better for everyone. Dandi is built by a distributed team with headquarters in New York City and Stockholm, Sweden.

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HR STRATEGY

First Advantage Expands Global Footprint, Opens New Office in Kraków, Poland

First Advantage | September 02, 2022

First Advantage Corporation, a leading global provider of HR technology solutions for screening, verifications, safety, and compliance, today announced the opening of a new office in Kraków, Poland. With a reputation as an emerging tech hub in Europe, the expansion into Kraków furthers First Advantage’s commitment to developing and delivering innovative solutions and insights that help customers manage risk and hire the best talent across the globe. To better serve its global client base, First Advantage is currently hiring technology, customer care, and operations positions for the modern facility located in the heart of downtown at High Five Office ul. Pawia 9 Kraków. “We are excited to expand our global footprint and to tap into the vast technology talent in the region, This new facility enables us to continue to deliver a superior customer experience and bring our suite of HR technology solutions to businesses of all sizes. This represents another step in our global strategy to help our clients hire smarter and onboard faster.” -Scott Staples, CEO at First Advantage As one of the largest workplace human resource screening providers in the world, First Advantage has a presence in 19 countries and 29 offices across the globe. About First Advantage First Advantage is a leading global provider of HR technology solutions for screening, verifications, safety, and compliance. The Company delivers innovative solutions and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology, First Advantage’s products and solutions help companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants, and drivers. Headquartered in Atlanta, Georgia, USA, First Advantage performs screens in over 200 countries and territories on behalf of its more than 33,000 customers.

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Spotlight

More than 900 companies participated in national list studies in the 8 Asia-region countries where Great Place to Work© is represented. In 2014, we received over 330,000 responses to our Trust Index© survey in Asia, which represents nearly 1.8 million employees. To be considered for the regional Best Workplaces in Asia list, a company must apply to – and be accepted on – a national Best Workplaces list. To be on a list, we analyse the results of two assessment tools: the Trust Index© and the Culture Audit© Management Questionnaire. Two-thirds of a company's workplace culture evaluation is based on the employee survey; one-third is based on the company's policies and practices, as measured in the Culture Audit. From the companies that met our national list criteria, 303 were eligible to appear on our inaugural Best Workplaces in Asia list.

Resources