Trends for 2006

While we were all still digesting our Christmas dinners Wayson Wyatt Canada released their Top 10 trends for 2006. While many are specific to the Canadian market I can foresee them being relevant in other countries.

In summary they were:-
1. The war for top talent will continue to intensify, as organizations struggle to attract and retain the best and brightest employees in an increasingly competitive market.
2. Organizations will increasingly move to integrated performance management – or leadership that provides the system required to provide necessary information to identify and develop high potential employees.
3. The pay-for-performance philosophy will take hold more strongly among Canadian companies.
4. Organizations will formalize and enhance employee communication efforts to positively affect business performance.
5. Progress will be made toward resolution of the debates surrounding defined benefit (DB) pension plan funding rules.
6. Pension plan designs will be revised to more equitably distribute the risks – and rewards – between plan sponsors and plan members.
7. There will be increased governance related to pensions and increased participation of plan members in pension decisions.
8. Market conditions will continue to be difficult for pension funds.
9. There will be much debate regarding how to act in light of the removal of foreign content limits.
10. Progressive employers will realize the opportunity costs of not taking action to manage mental health and workplace disability issues and put practices in place to improve workplace health and employee productivity.