According to the Bureau of Labor Statistics’ most recent findings, unemployment there is hovering around 14.9 million, which equates to an unemployment rate of just under 10%. The large number is indicative of the current global economic climate, which has shrunk working opportunities and left one in 10 of the US working population out of work.
Speaking at the NG HR Summit in the US, HR leaders agreed a common failing of many companies is in organising change when implementing a new strategy even though today’s volatile economy leaves little room for error. The NG HR committee feels there are clear reasons for these struggles; for most companies a change in management means altering organisational structures and processes. They rarely ask staff about how willing they are to make changes, which, the majority of the time, they are not.
John McGuire, Center for Creative Leadership, who is currently in attendance at the summit spoke on ‘transforming your leadership culture’. He believes that too many changes with management initiatives can prove detrimental to morale.
He said: "Our work with clients around the world has shown that there is a hierarchy of organisational cultures. Each advancing culture is more capable of dealing with the kind of complexity and ambiguity that typify our world today. But if an organisation's current leaders have not developed the right beliefs and practices – in other words, the right culture - to work across divisional boundaries, they'll rarely change successfully. When they get it right, however, every dollar invested in leadership development yields results and organizational impact that far exceeds expectations," He said.
McGuire was joined by Kim Creighton, VP HR at Hard Rock International, Dwight Tierney, SVP HR and Administration Madison Square Garden, Maggie Ruby Lynch, SVP Worldwide Recruitment at Time Warner and, Frances Fiorillo, SVP people at Virgin Atlantic Airways.
Although talks are still in progress at the NG HR US summit it seems all are in agreement although change is on the horizon it will be managing it that proves who will be successful and who will be creating organised chaos.
