Coke’s Layoffs Were a Distraction
Coca-Cola’s human resources staff was so busy with layoffs and restructuring this year that the company didn’t meet its diversity goals, according to The Atlanta Journal-Constitution.
December 24, 2003
Coke’s Layoffs Were a Distraction
Coca-Cola’s human resources staff was so busy with layoffs and restructuring
this year that the company didn’t meet its diversity goals, according to The
Atlanta Journal-Constitution. A task force provides an annual report on the company’s progress as part of a
discrimination settlement. White males were disproportionately promoted; the
company’s interview process wasn’t fixed; manager training is incomplete;
career-development plans are lacking; and a line of diverse candidates for
executive positions wasn’t established. Coke’s positive progress includes a
strong job-posting system, diversity training programs and its willingness to
accept criticism.
December 24, 2003
Schwab’s Match Back
Charles Schwab saved $48 million to $60
million by taking away its 401(k) match, and Mary McLeod, executive vice
president of human resources, said in April in this newsletter that she’d reinstate it when
the economy turned up. For a while, Schwab seemed in no hurry to restore the match. Last week, however,
Schwab said it will again pay $500 for the first $250 of employee contributions,
then match dollar-for-dollar up to 5 percent of the compensation eligible for
401(k) deferral, according to the Associated Press. Schwab is also distributing
an advance on its fourth-quarter bonuses.
December 24, 2003
Little Confidence in Leaders
Employees don’t have confidence in their
supervisors’ leadership abilities, with only 38 percent expressing high
confidence, according to a DDI study. DDI says that "groups with strong leaders
are about 37 percent more likely to outperform and are significantly more
productive than other work groups. For an organization with 10,000 employees,
this can equate to at least $28 million in productivity dollars."
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