Received, but understood?

first_imgReceived, but understood?On 1 Jul 2002 in Personnel Today Comments are closed. Howard Popeck reviews the online assessment tool Cognisco Series-300Litigation from external sources or disgruntled employees is on theincrease. To merely claim that the litigant had been presented with the rules,safety procedures, employment guidelines, HR policies, and so on is no longer acredible defence. The most commonly asked question in court is: “Yes, buthow do you know that they understood the information they were presentedwith?” Onerous board-level responsibilities Consider the implications of increased legal responsibility placed on boarddirectors by compliance regulations where the current blurred distinctionbetween information and knowledge is likely to come under increasingly rigorousscrutiny. Two global companies keen to identify what their staff actually understandabout job-related information are working with the UK-based HR data analysisfirm Cognisco, using its Cognisco Series-300 which provides online assessmentand detailed ongoing analysis of individual employees’ levels of understanding.Avoiding lucky guesses Cognisco’s claimed raison d’etre is that it is able to identify employeeswho meet or exceed a competence benchmark primarily through memory(questionable understanding), against those who achieve similar or bettergrades by demonstrating sufficient understanding, for example, with onlylimited reliance on memory. Moreover, it spots the ‘lucky bluffers’, who givethe correct, but guessed answers, it claims. Where is the evidence? At first sight Cognisco’s claims appear extravagant. Yet senior HR people attwo giant organisations, Interbrew (37,000 people worldwide) and TomsConfectionery (£110m turnover) believe the UK findings might ultimatelyinfluence their entire global HR policies. Interbrew UK uses it to provide online assessments within its sales functioncompetency framework, providing accurate measurements of the levels ofunderstanding by senior level sales managers and directors. This fits withinthe early stages of a rolling strategy to harmonise competencies on a globalbasis for Interbrew. In the global arena, accessibility and ease of use ofthese types of systems is an important factor. The Cognisco tool has enabled senior Interbrew managers and directors tofocus on their development needs within a well-structured competency framework.For individuals, this means they are able to focus and target their developmentwhere it really matters. Promotion policies re-evaluated Even more radical are the conclusions drawn by Toms after an intriguingapplication of Series-300. These conclusions, if they gain widespread acceptance,are set to overturn at least one long-held irrational HR belief regardingremuneration negotiations and promotion policies. Toms’ HR director Alan Best says: “I wanted an objective reply to thechallenge we’ve all heard far too often – “I’ve been here 20 years and I’mthe most experienced one here.” Cognisco’s Series-300 demonstrated that,sadly, this can be one year’s experience simply repeated 20 times!” Duty of Care The British Army has expressed an interest in evaluating whether officerstruly understand what is meant by Duty of Care via Series-300 onlineassessments. Its concern is that too many court martials are failing becauseofficers do not sufficiently understand the basis on which a charge can bebrought. According to Cognisco, discussions are under way with two regionalhealth trusts regarding objective assessment of managers’ understanding ofrace, gender and paternity issues. However, Cognisco is at pains to point out that Series-300 is not a tool fortrapping the unwary. “It is not 1984 revisited. It seeks to identify theexceptionally competent too,” it says. According to Sam Burton, SubaruUK’s managing director commenting on a successful application of Series-300across its UK dealer network, “the whole point is not to catch people out,but to improve skills.” A glimpse over the HR horizon perhaps? So are we witnessing the start of an HR revolution where tests decide whoshould advance? Will the driving force be proven merit rather than longevity?The indications are that increasing numbers of HR managers are demanding asounder basis for making certain global decisions. Faced with this, CogniscoSeries-300 may be the preferred choice. Related posts:No related photos. Previous Article Next Articlelast_img read more

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CUNA CFO Council presents top honors to credit union, executive, volunteer

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr One credit union and two executives were honored Tuesday during the CUNA CFO Council Conference in New Orleans.CASE CU, Lansing, Mich., was honored with the first-ever Excellence in Finance Award. The CUNA CFO Council’s Excellence in Finance Awards recognize a finance department that has made significant contributions or has taken an innovative approach in one of the following activities: board education, collaboration, credit risk management, expense reduction/control, financial literacy, innovative portfolio management, interest-rate risk management, and project management.Vincent J. Market, executive vice president/chief financial officer, TruMark Financial CU, Trevose, Pa., was named the CUNA CFO Council’s first-ever CFO Professional of the Year, which recognizes and honors the individual who exemplifies excellence in credit union financial management.Justin Mouzoukos, chief financial officer, Mazuma CU, Overland Park, Kan., was honored as the 2015 CFO Volunteer of the Year. The award recognizes contributions to the council, which as a member-led organization relies on volunteers.CASE CU was recognized for its achievements in finding creative solutions to solve financial challenges and create a stronger financial environment for their members. continue reading »last_img read more

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An election session of the Assembly of the Tourist Board of the City of Dubrovnik was held

first_imgTZGD AssemblyVALAMAR BABIN KUK – Ivan Josip Karlić, Anđelko Skvrce, Marilka TovaracIvan Sabljic, Marin GulanADRIATIC LUXURY HOTELS – Hrvoje Sanje, Katija Jerkovic, Daniela Lepes, Matea BrninDUBROVNIK GARDENS OF THE SUN – Perica Andrić, Ana Margaretić, Vesna Jurica MarketIMPORTANNE RESORT – Romana AntunovićHOTELS MAESTRAL – Julijo SrgotaRIXOS LIBERTAS DUBROVNIK – Sandra KunicaGRAND HOTEL PARK – Erna DilberovicHILTON IMPERIAL Katarina DumančićHOTEL ADRIA – Maro CaporHOTEL LERO – Marko BlazekHOTEL LAPAD – Vivian KuculoHOTELS KOLOČEP – Dejan PerićACIEXCELSA NEKRETNINE – Kristijan Pavic, Anto RuskovicHRT – Hrvoje SpanicPERVANOVO – Mato KmetovićPRIVATE RENTER – Ivan ŠarolićPRIVATE RENTER – Petar MartinovićPRIVATE RENTER – Silva LucicPRIVATE RENTER – Ana BobanovićLIBERTAS DUBROVNIK – Ivica VojvodićPEMO NTL – Nikola ButiganLEDO DD – Zlatko ZubovicKONZUM DD – Anita GolubićKOMPAS DOO – Daniela KlaicARAGOSA DOO – Goran RaspopovićADRIATIC EXCURSIONS DOO – Srdjan KristicCLARISA – Frano SoldoMEA CULPA – Mario HajdarhodzicUGOSTITELJSKI OBRT POKLISAR – Stjepan PericTZGD Tourist CouncilTomislav Dumančić – Valamar DubrovnikKatija Jerković – ALHSandra Kunica – Rixos LibertasStanko Ljubić, Globtour, President of the professional group of tourist agencies of the Chamber of CommerceDanijel Marušić, Dubrovnik Travel, DMC – MICETonći Bitanga, caterer – craftNino Dubretić, Direct Booker, private rentersMario Matkovic, HiltonSupervisory Board: Hrvoje Jelic – GulliverNike Kukrika – ALHPursuant to the Statute of the Tourist Board, the third member of the Supervisory Board will be delegated by the Tourist Board of the Dubrovnik-Neretva County Tourist Board Yesterday, an election session of the Dubrovnik Tourist Board was held at the Hotel Kompas, summarizing the successful tourist year, new members of the Tourist Board were elected, and new members of the Tourist Board and the Supervisory Board of the Tourist Board. Also, the Rules of Procedure were adopted, the supplementary budget for 2017 was adopted and the Work Program with the financial plan for 2018 was adopted. The revised budget for 2017 and the financial plan and program for 2018 were unanimously adopted.At the beginning of the election assembly of the Dubrovnik Tourist Board, the President of the Dubrovnik Tourist Board, Mayor Mato Franković, congratulated everyone, and the special present members of the Assembly and the Tourist Council on the record tourist year. Since the current convocation of the Assembly expires on December 04, 2017, the members of the Dubrovnik Tourist Board have appointed their representatives in the Assembly. The Mayor thanked the current members for their four-year term, and introduced the new members of the Assembly, the Tourist Board and the Supervisory Board of TZGD.Presenting the Revised Budget for 2017 and the Work Program and Financial Plan for 2018, the director of the Dubrovnik Tourist Board Romana Vlašić spoke about the most important projects of the Dubrovnik Tourist Board for 2017, announced projects for 2018 and expressed satisfaction with the past tourist season. in distant tourist markets in the promotion of Dubrovnik. Tourist traffic is growing steadily, so Dubrovnik has achieved record tourist results in the first eleven months of this year.


From 1 January to 30 November 2017, 1 tourists stayed in Dubrovnik in all types of accommodation, which is 160% more than in the same period in 745. There were 17 overnight stays, or 2016% more than last year. In the first eleven months of this year, the most numerous tourists were from the United Kingdom, the United States, Germany, France, Spain, Croatia, Australia, Sweden, Finland and Ireland. Positive achievements are also recorded in November and at the beginning of December, which is a guarantee that the tourist year 3 will end as an absolute record for Dubrovnik tourism.On this occasion, the Mayor spoke about the project of the City of Dubrovnik Respect the city and announced solving the problem of using public areas in the city center by reducing the number of tables in restaurants, the introduction of time slots (slots) that the agency with one-day excursionists guests in Pile, the abolition of stands in Pile and the improvement of the transport infrastructure of the City.Below in the attachment, find out who is in the assembly and the tourist council of TZGD because these are the answers of the person for the development of tourism in the city of Dubrovnik, both for reasoned criticism and praise for the record tourist year in the city of Dubrovnik.TZGD Assemblylast_img read more

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Tobacco giant seals £3.4bn pension de-risking deal with PIC

first_imgMitul Magudia, head of business development at PIC, added: “Insuring both pensioner and deferred members introduces more complexity to an insurance transaction when compared to similarly large pensioner buy-ins and requires careful consideration of areas including residual risks, asset strategy and reinsurance.“This transaction continues to advance the development of innovative structures in the de-risking market and we are really pleased to have been able to help the trustee secure its members’ benefits following their excellent stewardship.” Source: BATBAT’s de-risking deal accounted for the bulk of its £4bn DB pension fundFTSE 100-listed BAT joins a number of other major UK companies to have offloaded pension risk this year. Rolls-Royce’s UK DB scheme insured the benefits of around 40% of its members in a £4.6bn deal with Legal & General (L&G) in June, while L&G also backed a £500m transaction with publishing company Pearson and a £95m deal with private equity house 3i this year.PIC insured £900m of liabilities for Marks & Spencer’s UK DB scheme in May, with Phoenix taking on £460m.  Michelle Wright, head of trustee consulting at LCP and adviser to the BAT trustees, said: “This landmark transaction is an important milestone for the market. The fund exemplifies the growing trend of large schemes accelerating their de-risking plans due to attractive pricing and improved affordability…“The competitive pricing negotiated with PIC allowed the fund to maximise the amount insured. Having now insured three quarters of its liabilities, the fund has successfully achieved another important step in reducing risk and increasing the security of members’ benefits.”The employer was advised on its de-risking strategy by Mercer. British American Tobacco (BAT) has insured £3.4bn (€3.7bn) worth of UK pension liabilities with Pension Insurance Corporation (PIC), one of the industry’s biggest such deals.The transaction covers 8,300 pensioners and 2,300 deferred members, accounting for the majority of the tobacco manufacturer’s £4bn defined benefit (DB) pension scheme. It is the biggest pension de-risking deal to cover both retired and non-retired members, and is PIC’s largest single transaction to date.Brian Barrow, chairman of the British American Tobacco UK Pension Fund, said: “This transaction is very good news for our members, insuring the vast majority of benefits within the fund. It achieves a significant step towards the trustee’s objective of reducing risk and increasing the security of members’ benefits.“We are delighted that we have been able to complete a transaction of this scale successfully, despite the recent market volatility. PIC has been flexible and innovative throughout and I want to thank them and our advisers for helping us achieve our de-risking goals.”last_img read more

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