first_imgAfter10 years of multinational growth, Latin American companies are facing theproblem of retaining and motivating key performers. Jacqueline Vitali reportsWhenmultinationals entered the Latin American region a decade ago, the biggestchallenge was to find capable staff. Today the problem of how to attract,motivate and retain high-impact performers is beginning to surface. InLatin America, as in the US, Canada and Europe, total remuneration packagesstart with base salary but also typically include long and short-term incentivepay and benefits. In countries with a strong flow of foreign investments suchas Brazil, Argentina, Mexico and Chile, a fair salary has to be topped up by apackage of other rewards, incentives and working conditions. Surprisingly,one of the key motivators is cars, followed by bonuses. To attract top-leveltalent in Brazil for example, companies need to provide executives and managerswith a luxury car, as well as a defined benefit retirement plan. Butexpectations and cultural values regarding total remuneration packages candiffer significantly from country to country in the Latin region. “InArgentina where the economic situation is very unstable,” says Luis PerezVan Morlegan from Argentinean-based HR consultancy Bertoni & Asociados/HNeumann International, “many good executives are looking for work butobviously the top performers are employed and not always willing to leaveunless another company offers them a substantial hiring bonus. One of the bestmethods of attraction is a bonus because it is linked to the performance of theemployee within the company. It represents a percentage of the annualremuneration which is the equivalent to two to five times the wages.”Long-termincentives such as stock option programmes were implemented in a growing numberof companies in the region, especially in the fast expanding hi-tech andtelecommunication sectors. “In Mexico,” explains Hugo Oliveri, aconsultant based at the Mexican offices of professional services firm WatsonWyatt, “stock options are becoming a very strong tool to retain highlyskilled performers. They represent 25% of the basic salary. Bonuses are givenin 80% of companies, which represents 20% of the basic salary.” Asurvey carried out by Watson Wyatt in Puerto Rico indicates that despite thehigh unemployment rate of approximately 11 per cent, base salary increasesrange from 4.5 per cent to 4.8 per cent each year. And yet, over 50 per cent ofthose companies surveyed are experiencing difficulties in attracting andretaining critical skills and talent.”Totackle this problem,” explains US-based HR consultant Douglas H.Hachenburg, “companies have to incorporate pay-for-performance with largeopportunities for high performers. A strong recruitment strategy is alsoimportant to select the most qualified individual. Finally, improving employeecommunication in areas such as benefits is also crucial. Bonuses are paid atall levels, with more senior positions eligible for substantial payments,although not as high as in the US. Cars are one of the most attractive andfrequent management perquisites in the country.”Formany companies in the region, variable pay continues to play an important rolein linking rewards to performance. Programmes that have increased inutilisation since 1998 are: individual performance incentives, team/small groupincentives, spot recognition awards and retention bonuses.Butthere are also three non-financial incentives that have a strong impact inattracting highly skilled workers in the region – job stability, training andpromotion. However,as work-life balance issues are important in Latin America, benefits thatrecognise family commitments go down well with employees too. Anna MariaGonzalez, for example, HR manager of fmcg company Sara Lee in the DominicanRepublic, says management at Sara Lee in the Latin region has focused on itsemployees’ number one priority – their families. “Dominicancompanies are following US examples by including family members in fringebenefits, such as life and health insurance, club memberships and so on. But weare also going the extra mile to look after employees by recognising homecommitments. Help is given through organising summer camps, Christmas partiesand picnics for staff and family members. At Christmas we also give out foodbaskets for the family,” says Gonzalez. “And this is a great way tohold on to staff.”Manycompanies in the region also provide free lunches and vitamins for employees,especially in areas where malnutrition is a problem. Previous Article Next Article Related posts:No related photos. Comments are closed. Hanging on to the high impactersOn 1 Dec 2001 in Personnel Todaylast_img read more

first_imgPlans for mandatory fortification of bread with folic acid in New Zealand could be abandoned, after the government said it was taking advice on the issue.Bakers have lobbied hard against fortification, due to come into effect in September, since the country’s previous Labour government announced the plans in 2007. The new Conservative administration is now reviewing the decision and will take into account a survey that found 87% of people were against the plan.Under the proposed legislation, all commercially baked bread, except organic bread, would contain 80-100 micrograms of folic acid per 100g of bread.The UK’s Food Standards Agency has put plans for mandatory fortification of bread on hold, while it awaits research results.last_img read more

first_imgAn American hedge fund has invested in excess of £100M in Britain’s biggest prepared fresh foods supplier.The Boston-based Baupost Group has bought shares in the privately owned Bakkavör Group as part of a wider ownership shake-up of the company. As a result, Bakk AL Holdings, (a company owned by Agust & Lydur Gudmundsson and funds managed by The Baupost Group), now owns approximately 89% of the outstanding shares in Bakkavör.Agust Gudmundsson, chief executive of the Bakkavör Group said: “I am delighted to welcome The Baupost Group to Bakkavör. They are globally recognised as highly successful long-term investors and are supportive of the company’s continued expansion plans.”In a statement, Bakkavör described The Baupost Group as “investors with experience investing in a wide range of securities and asset classes globally, including within the food sector”.UK and global interestsAgust and Lydur Gudmundsson, who own a controlling interest in Bakk AL Holdings, will remain in their current roles and retain their positions as chief executive and chairman respectively.Bakkavör employs more than 18,000 people globally and produces more than 5,500 products in 18 different categories, including bakery. Products include pre-cooked baguettes, dough balls and ciabattas. In the UK, customers include Tesco, Marks & Spencer, Sainsbury’s, Waitrose, Asda and Morrisons.last_img read more

first_imgResidents at the Bakers’ Benevolent Society have enjoyed a Christmas party at the charity’s sheltered housing project.More than 40 residents from the baking industry and affiliated trades enjoyed seasonal treats, including mince pies donated by local bakeriesChairman of trustees Chris Tomkins and his wife Gillian attended the event at Bakers’ Villas in Epping, Essex, which included a rendition of Galway Bay, sung by Dennis Hume of Hume’s Bakery, Halstead.Since 1832, the society has been providing sheltered housing for retired members of industry and allied trades and continues to provide independent living at Bakers’ Villas.Financial support for numerous infrastructure projects is required by the society, and anyone interested in helping, either with their time or financially, should visit, to register how they would like to support.last_img read more

first_imgDJ Logic, the beloved purveyor of turntable jams, has just been announced as part of the LOCKN’ Festival lineup. The famed DJ has a long history in the jam family, especially with Peter Shapiro enterprises like The Wetlands, Brooklyn Bowl and more.The name of the game will be “Jazz & Woods,” as DJ Logic is set to perform two-jazz inspired sets on Friday and Saturday night at the festival. With all of the ace musicians around, the chance for a sit-in is likely. Whatever DJ Logic does with his set, there’s no doubt that it will be one late night dance party you won’t want to miss.Tickets and more LOCKN’ information can be found here`.last_img

first_imgThe Keough-Naughton Institute for Irish Studies presented a lecture on Friday by associate professor of Irish Literature and Language Sarah McKibben on the queering of early modern Irish colonial encounters with the English.“Queering early modern Ireland … provides a common grammar of disparate material in multiple languages that has not heretofore been read together or understood as part of the same political dynamic,” McKibben said. “It discloses the common motivations of heretofore isolated genres, such as love poetry and so-called political poetry, … offers new insights into familiar material, recovers an Irish iteration of what has long been grasped in contemporaneous England … and enables new forms of comparison and offers an early model of a pattern and process found elsewhere.“By in turn queering modern Ireland, that is unsettling and perturbing it, reading it athwart and critiquing prior assumptions to discern the non-heteronormative nature of its very texts, encounters and ideologies across discursive communities, we can recover a lost cultural logic of the period.”McKibben said the male-male bonding typical of a male-dominated society, though it may not have all been considered homosexual, was identified and observed in some of the works from author Gerald of Wales, whose propaganda-laced works depicted the Irish harshly for being homosexual, among other things.“Put simply, colonialism queers pre-existing male homosocial bonding, that is, it dislocates, unsettles, spoils, renders strange native homosocial bonding,” she said. “Because such bonding is so central to native Irish society … this prompts a correspondingly vehement response that shapes early modern anti-colonial rhetoric and lives on in the Irish.”Years later, once Irish resistance to English colonialism had begun to boil over, Irish poets turned against the English through their own literary works, which McKibben said was a return, “back to Gerald, but viewed from the other side.”The Irish resistors wrote “acts of violence as the underlying truth, …‘The English are treacherous, not to be trusted, and when they offer bonds of friendship, you should not be misled.’”Tags: colonial encounters, early modern Irish, Keough-Naughton Institute for Irish Studies, queering, Sarah McKibbenlast_img read more

first_imgVermont-based Northern Power Systems, Inc., announced today that it has been commissioned to deliver an energy efficient, on-site power system to the One Market Street office complex in downtown San Francisco, owned by Equity Office Properties Trust (NYSE: EOP).Equity Office is the nation’s largest publicly held office building owner and manager with a portfolio of 767 buildings comprising 127.4 million square feet in 21 states and the District of Columbia. With 1.5 million square feet of commercial space occupying an entire city block, One Market is one of the premier office buildings in San Francisco’s financial district.When the 1.5 megawatt system is completed early next year, it will become what is believed to be the first commercial on-site electric power system to be fully interconnected with Pacific Gas & Electric’s downtown San Francisco electricity grid.The advanced cogeneration system consists of three natural gas-fired generators and a sophisticated heat recovery process, which converts waste heat from the generators and their exhausts into steam. The steam will be used to heat the building. Northern is providing overall system design, engineering and commissioning. Northern is also supplying the generators and an automated control system designed to maximize system efficiency.Northern believes that this will be the first cogeneration system to be interconnected to the downtown San Francisco utility grid in full compliance with the Pacific Gas & Electric’s Rule 21 Interconnection Standards. Running in parallel with the utility grid allows the system to meet as much of the building’s electricity demand as possible, while the utility meets any needs in excess of the system’s capacity. By running near full capacity, the system delivers maximum electrical efficiency. Northern’s integrated control system also maximizes utilization of the waste heat from the generators, further increasing overall system efficiency.The cogeneration system, scheduled for installation in February 2003, can deliver up to 30% of One Market’s electricity and 85% of its steam needs for its space heating system.Northern’s power system is also considered a “green” system. In recovering waste heat, the system’s overall fuel efficiency rises to approximately 60%, compared to typical efficiencies of 30% from utility-produced power. Doubling fuel efficiency can reduce greenhouse gas emissions by up to 40%. These higher fuel efficiencies also qualify Equity Office’s new system for an incentive rebate from the Self-Generation Incentive Program of the California Public Utility Commission (CPUC). This program was established in 2001 to encourage on-site generation to reduce peak demand and avoid rolling blackouts such as those recently experienced by the state.”Equity Office is leading the commercial real estate market in actively implementing power solutions that make sense from a power security and from an environmental standpoint,” said Thomas Smith, Vice President of Energy Operations at Equity Office. “Teaming with Northern Power Systems to create this innovative approach to energy supply is fully consistent with our commitment to maintaining superior quality of service to our tenants, improving the efficiency of our systems, and lessening the impact of our operations on the environment.”Jito Coleman, president and CEO of Northern, stated, “We are fortunate to work with a company whose people recognize that power security and environmental benefit are not mutually exclusive. All of us at Northern are happy to help Equity Office reach its goals through the design and installation of this innovative and highly efficient cogeneration system.”last_img read more

first_imgBy Philip Terzian/ShareAmerica July 19, 2019 Harass. Detain. That’s what the Maduro regime does to its opponents in Venezuela’s National Assembly, the country’s sole surviving democratic institution.On January 13, the regime’s Bolivarian Intelligence Service (SEBIN) arrested and detained Interim President Juan Guaidó. When the United States and the international community, including the Organization of American States, swiftly condemned the action, Guaidó was released.What other government figures has Maduro harassed or detained? Some 67 Assembly deputies, says Caracas’ Analítica. That’s nearly two-thirds of the duly elected opposition bloc reporting harassment, imprisonment or worse.Sometimes the Maduro regime moves beyond harassment, beyond imprisonment, all the way to torture. Example: popular Caracas deputy Gilber Caro. Held repeatedly by Maduro’s intelligence service, Caro has been a victim of SEBIN torture and given only starvation rations. Caro was arrested again in April and hasn’t been seen since. His lawyer considers him “disappeared.”Other legislators, elected by the Venezuelan people, have been forced to seek refuge in foreign embassies: deputy Freddy Guevara in Chile’s, deputy Americo de Grazia at Italy’s and deputy Franco Manuel Casella in Mexico’s. Deputy Richard Blanco is now a “guest” of the Argentine ambassador. A dozen more of their National Assembly colleagues have fled to neighboring countries.In May, Maduro’s regime arrested the National Assembly’s first vice president, Édgar Zambrano. He remains in custody.U.S. Secretary of State Mike Pompeo called Zambrano’s illegal imprisonment “an attack on the independence of [Venezuela’s] democratically elected legislative branch.” In an interview, Pompeo said, “Our task is to continue to support all those who are supporting Juan Guaidó.”last_img read more

first_imgIn today’s highly competitive market, financial institutions need to differentiate themselves as much as possible. Differentiation can take many forms, but any sort strategy that can generate loan income is especially important. Loan generation is important for financial institutions of all sizes, but for smaller credit unions and community banks, it is even more important as they often do not have the marketing budgets for traditional marketing campaigns and they cannot always compete on rate alone.Having a well though out digital strategy is one of the most important things that financial institutions can do in order to reach today’s consumers. For many, social media (Facebook, Twitter, Instagram, LinkedIn, Pinterest, Google +, etc) is a great place to start. Online shopping is bigger than it’s ever been and consumers are talking about your business and brand on these digital channels. The majority of these consumers will probably rarely ever step foot in one of your branches.. So, targeting them, bringing their business to you and gathering information from them has never been more important.CitizensFirst Credit Union (CFCU) in Oshkosh, WI has been targeting these consumers through social media throughout 2014 and the statistics are staggering. In 2014 they focused on Facebook to not only grow their fan base, but, also get information from their members using social media. They have over 17% if their membership liking them on Facebook, and closed over $2 million in consumer loans using Facebook generated leads only. This led to not only scheduled interest income for the future, but, instant income to their bottom line from ancillary product sales on these loans.They used a different tactics and strategies to find members who could save money by switching their loans to CFCU. They used Facebook to track that over 60% of the people who entered their Facebook driven contests said that they didn’t hear about their loan promotion through traditional media channels (billboards, radio, newspaper, Pandora, etc), but, instead they heard about it via Facebook.This is just one example of a financial institution doing things just a little bit different to generate more business, and doing it without spending a lot of member’s money. Being trained on how to do these things is crucial to the future of your business. It’s never been more important to be innovative in the way you generate new business. What is your institution doing moving forward to stay ahead of the curve? 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Don Emmer Don is currently the Director of Sales for Chatter Yak (Marketing/Advertising CUSO) based out of Citizens First Credit Union in Oshkosh, WI. His role there is to help financial … Web: Detailslast_img read more

first_imgA Harvard Business Review survey of more than 400,000 people across the U.S. found that when employees believe promotions were managed appropriately, they are more than twice as likely to work harder and stay engaged in their current organization. The survey, conducted throughout the last year, proves that effectively promoting people throughout your company can greatly enhance your organization’s success.The survey also found that these people – who believe that promotions are handled effectively – are five times as likely to think leaders act with integrity.With this in mind, before promoting an employee, the Harvard Business Review recommends:clarifying team members’ aspirations;encouraging team members to apply for new positions within your organization (even if you have someone specific in mind; you might be surprised); continue reading » 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more