EMPLOYING THE BEST PEOPLE

How to identify, select and keep valuable employees

The Economist Intelligence Unit is conducting a survey in North America and Western Europe to benchmark the ways in which companies are a) assessing the need for various skills and attributes; b) selecting and recruiting people; and c) keeping valuable employees.

This survey is part of a broader study that will include executive interviews. In return for your participation in the survey, you will receive a complimentary Executive Summary of our findings. All responses will be kept in strict confidence.

Your candid contribution to this research will help us to gain practical insights and to draw useful conclusions. This 20-question survey will require about 15 minutes to complete.
All questionnaires are strictly confidential; only EIU researchers will see individual survey responses.

Name
Title:
Company
Company Address
City
State
Postal Code
Country
Telephone
Facsimile
E-mail


Please approximate in US dollars your company’s worldwide revenues at the end of fiscal year 1999.
Less than $500m
$500m-999m
$1bn-5bn
$6bn-10bn
More than $10bn


What is your company’s primary line of business? (Please select one.)
Energy/utilities/natural resources
Chemicals
Pharmaceuticals/biotech
Food/Consumer products
Auto/Industrial/Manufacturing
Wholesale/Retail services
High tech/Telecommunications
Financial services
Media/Entertainment
Travel and transport
Government
Other


Your Company


1. How many full-time employees does your company now have and how many do you expect to have in three years?
Now In three years
Fewer than 1,000
1,000 to 9,999
10,000 to 49,999

50,000 to 99,999
More than 100,000
I do not know


2. If your company’s workforce will grow in three years, what is the single greatest reason for that growth?
Acquisition of a new e-business venture
Corporate merger/acquisition
Geographic expansion
Organic creation of new e-business venture
Organic growth of existing business
Shift of outsourced functions to in-house group
Business-line expansion
Other (please specify)


3. If your workforce will shrink in the next three years, what is the single greatest reason for the decrease?
Process efficiencies
Post-merger integration
Closure of business units
Elimination of business lines
Outsourcing of in-house functions
Replacement of labour with technology
Other (please specify)


4. Which of the following best approximates your company’s target rate of turnover for full-time employees? What is the current turnover rate? At what level does the turnover rate threaten the business?
Target Current Threat to business
Less than 5%


5% to 9.9%
10% to 14.9%
15% to 19.9%
More than 20%
We do not track turnover rates
We do track turnover rates but I do not know the percentages


5. In assessing your company’s greatest turnover challenge, which geographic region produced the highest turnover over the past year? What was that turnover rate? (Please select only one option in each column.)
Region
Western U.S.
Eastern U.S.
Central U.S.
Canada
U.K.
Ireland
France
Germany
Italy, Spain, Portugal
Scandinavia
Other (please specify)
We do not track turnover by employee group and/or region
We do track turnover by sub-groups but I do not know the percentage


Turnover Rate
Less than 5%
5% to 9.9%
10% to 14.9%
15% to 19.9%
More than 20%


Planning your people needs


6. In assessing which skills and attributes are needed to propel business strategy, which groups are most directly included (i.e. the assessment cannot be finalised without their input?) (Please rank the top three.)
Executive committee
Senior management
(e.g. CEO/CFO/CIO/COO)
Line managers
Non-managerial employees
Human resources department


7. Which of the following best describes how often your company re-assesses those skill/attribute needs? (Please select only one)
More than once a year
Once a year
Less than once a year
As market conditions dictate
As part of any corporate strategy review
Not at all


8. To what degree does your company use each of the following avenues to articulate what it values as an organisation—to employees and to the marketplace? (1 = not used, 5 = critical.)
To Employees
To the Marketplace
1
2
3
4
5
1
2
3
4
5
Corporate advertising
Mission statement
Public relations campaigns
Recruitment campaigns


9. Please rate the importance to your company’s success of the following skills and attributes. Please rate their likely importance in three years. (1 = unimportant; 5 = critically important.)
Now
In three years
1
2
3
4
5
1
2
3
4
5
Ability to influence others
Analytical skills
Coaching/mentoring abilities
Conflict resolution
Customer orientation
Decision-making
Facilitating teamwork
Initiative abilities
Innovative approach
Interpersonal communication
Knowledge of the business
Learning from experience
Listening skills
Mentoring
Organisational skills
Problem-solving skills
Project management skills
Research skills
Technological knowledge


10. To what degree are the following methods used to fill skill/attribute gaps within your organisation?
(1 = not used, 5 = critical to filling gaps.)
1
2
3
4
5
Borrowing from partners/customers (e.g. secondments)
Internal development programmes
Recruitment of new hires
Renting from open market by assignment (e.g. hire freelance)
Renting from open market long-term (e.g. contract workers)
Short-term reassignment of employees
Other (please specify)


11. To what degree are the following tools used in your company to reinforce the skills and attributes that are core to your organisation? (1 = not used, 5 = critical tool.)
1
2
3
4
5
360 degree performance reviews
External learning opportunities
Financial incentives
Formal performance appraisal by supervisor
Informal coaching and feedback
Leadership development
Mentoring for new employees
Non-financial incentives
(e.g. flexible work hours, casual dress)
Special project assignments


Selecting and Recruiting People


12. Please rate the importance of the following in reaching the best job candidates and rate their likely importance in three years. (1 = unimportant, 5 = critically important.)
Now
In three years
1
2
3
4
5
1
2
3
4
5
Advertising in publications
Recruiting from colleges
Employing a specialised staff recruiter
Hiring from competitors
Hiring from joint-venture partners
Hiring from within the company
Posting on job-market websites
Postings on company websites
Referrals from customers
Referrals from employees
Using industry associations
Working with recruiters


13. Which of the following trends best explain the changing use of recruitment tools in the next three years? (Please rank the top two.)
Need to target certain skill sets or experience
Need to acquire hard-to-train behaviours
Greater use of web by candidates
Greater use of web by company
Need for technological competence


14. In positioning yourself as an employer of choice, how important are the following rewards are in attracting new employees? How important will they be in three years?
(1 = unimportant, 5 = critical.)
Now
In three years
1
2
3
4
5
1
2
3
4
5
Base pay
Career advancement within the company
Company reputation
Development coaching
Entrepreneurial supervisor
Flexible dress code
Flexible working hours
Freedom to make decisions
Growing responsibilities
Learning opportunities
Options to work from home
Paid vacation
Promise of hot job assignments
Promotion from previous position
Remote access to company email
Remote access to company network
Traditional benefits (e.g. healthcare)
Variable pay


Keeping the Best People


15. In identifying key people, which of the following best describe the gauges used by your company. (Please rank the top two.)
Ability to inspire peers to contribute
Financial-contribution measure (e.g. EVA)
Performance in predetermined skills/attributes
Proven ability to lead
Other (please specify)


16. Does your company undertake a succession-planning exercise?
Yes
No


17. If you use succession planning, how important is each of the following in deciding which individuals are directed towards key positions? (1 = unimportant, 5 = critical.)
1
2
3
4
5
Customers
Direct supervisors
Human resources
Individuals themselves
Length of service
Peers
Senior management
Seniority


18. If you use succession planning, how important is each of the following to the process of identifying key positions and positioning candidates to move into those positions? (1 = unimportant, 5 = critical.)
1
2
3
4
5
Formal process for identifying key jobs
Informal process for identifying key jobs
Formal mentoring programmes
Informal coaching and feedback
External training
Internal development programmes
New positions with larger scope
Special project assignments
Chance to start a new business
Offer of work outside home country


19. To what degree will the failure to attract the best people threaten your company over the coming year? (1 = not an issue, 5 = a critical issue)
1
2
3
4
5


20. To what degree will the failure to retain the best people threaten your company over the coming year? (1 = not an issue, 5 = a critical issue)
1
2
3
4
5