Employers in the City are getting better at handling the staff implications
of redundancies and mergers, according to research by consultancy Meridian
Consulting.
The survey of 40 senior HR managers in financial institutions shows that 73
per cent of them believe their organisations are now better at dealing with
issues such as the fear of redundancy and the need for new skills.
The survey found that chief executives played a critical role in managing
change, with 80 per cent of HR managers citing the importance of consistency in
the words and actions of senior staff.
Mark Templeton, executive director of human resources for Europe and Asia at
the investment management division of Goldman Sachs, said, "One of the
most interesting aspects of the results is the huge emphasis on strong and
credible leadership.
"It is this factor that ensures the success of a change management
programme."
He added, "Business leaders who support their change management
programmes with both words and actions are best placed to steer their companies
through periods of economic uncertainty."
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The survey also revealed that more than three-quarters of HR managers
believe that their organisation is now better equipped to realign itself with
the current economic downturn and manage subsequent changes than it was five
years ago.
