| 1. |
Look Before You Leap: Managing Risk in Global Investments |
Date published: 2011
Source: Deloitte/Forbes Insights
Description: This survey was conducted to gain greater insight into the issues of compliance and integrity risks that are increasing as a result of growth opportunities abroad. The report discusses some of the key compliance issues facing North American companies as they seek to increase their footprint abroad and offers guidelines that might help foster the compliance process.
Key findings:
- Almost two-thirds (63%) of total survey respondents identified FCPA and anti-corruption issues that led to an aborted deal or a renegotiation over the past three years.
- A clear majority (60%) of respondents said that they have either pulled out of a transaction or adjusted deal pricing to reflect compliance and integrity-related issues.
- China is highest on the list of countries or regions ranked according to concerns about the potential for compliance and integrity-related issues when doing business. More than 80% of respondents said they were significantly or somewhat concerned about China.
- Entities from Mexico appear to be very finely attuned to compliance and integrity due diligence issues, and highly confident in their ability to meet the challenges.
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| 2. |
Confronting Complexity: How Business Globally is Taking on the Challenges and Opportunities |
Date published: January 2011
Source: KPMG International
Description: The study, based on interviews with 1,400 senior executives in 22 countries, examines the causes and impact of complexity among businesses globally.
Key findings:
- Complexity is a major issue for businesses globally – 94% of executives believe managing complexity is important to the success of their company.
- The level of complexity has risen over the past two years and companies expect complexity to increase over the next two years.
- Three-quarters of executives surveyed see opportunity in complexity.
- Improving information management is the number one action taken across all market sectors.
- Businesses are addressing complexity in a variety of ways ... with mixed success.
- A majority plan to take different or additional actions to address complexity, including improving information management and reorganizing all or part of their business.
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| 3. |
Canadian Banks: A New Era of Customer Expectation |
Date published: February 2011
Source: Ernst & Young
Description: This survey of more than 20,500 global retail banking customers was conducted in order to gauge what drives their relationships with their banks.
Key findings:
- Although 75% of Canadians surveyed say their trust in banks has stayed the same or has increased in the past 12 months, almost 64% say they plan to switch banks or have already done so because of service quality issues.
- Only 25% of Canadian respondents say they have less confidence in their banks than they did pre-crisis, compared to 44% of global respondents and 55% in the U.S. Within Europe, the UK has seen the largest drop in consumer trust (63%).
- Though the trust Canadians have in their banks remains high, the survey makes clear that the battle to win over new retail banking customers will be focused largely on improving personalized attention and reducing service issues.
- Thirty-four per cent of respondents say they receive either occasional or absolutely no personalized attention from their banks, making them easy targets for competitive offers and 64% of Canadians saying they have changed or plan to change banks for this reason.
- 48% of Canadian customers bank with just one bank, and 37% bank with two.
- 38% of Canadians say they’ve changed their main bank in the past, compared to the global average of 36%.
- 73% of Canadians would not pay for independent financial advice, believing it should be part of their banks’ service offerings.
- Brand image rates 4.6/6 to Canadians in what’s most important to their relationship with their banks.
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| 4. |
Global Survey Finds CEOs Seeking Opportunities in Emerging Markets |
Date published: 2011
Source: PricewaterhouseCoopers
Description: This report set out to uncover how CEOs are approaching growth, during a time when sustainable economic growth appeared far from assured. 1,201 business leaders were surveyed in 69 countries around the globe.
Key findings:
- Post-crisis, CEOs are setting their sights on growth and confidence levels are rising across the board – whether broken down by location, sector, or size.
- CEOs plan to grow revenues in regions where recoveries are strong, and the promise stronger still. And those regions are not always close to home.
- The large, developed economies still have their attractions. The U.S. was the second-most popular choice (after China) for a growth market, with 21% of CEOs ranking it in their top three. And, while China dominates the list of nations considered most important for future sourcing needs, certain factors such as quality control, risk profile, innovativeness, logistics and existing relationships remain important to many CEOs – and these still tend to skew toward developed markets.
- Emerging markets have been part of corporate strategies for years, but the trend is accelerating. The majority of CEOs (84%) reported that they are changing company strategies – with investments more disciplined from a cost perspective, and more targeted from a market perspective.
- CEOs are watching out for the macro-economic risks; 71% report being concerned about economic uncertainty. Rising public sector deficits were the number-two concern of the CEOs surveyed.
- CEOs have three focal points as they reposition their companies to address this multi-speed recovery: innovation, talent, and a shared agenda with government in areas deemed critical for growth.
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| 5. |
Canada’s 2010 Tax Competitiveness Ranking: Moving to the Average
but Biased Against Services |
Date published: February 2011
Source: The School of Public Policy, University of Calgary
Description: A paper analyzing tax regimes of 83 developed and developing countries. In a global economy, this kind of comparison is a strong indicator of future investment, job and economic growth for those countries.
Key findings:
- For the first time since 1975 (the year Canada’s marginal effective tax rates were first measured), Canada has become the most tax-competitive country among G-7 states with respect to taxation of capital investment. This feat was accomplished within six years after having previously been the least tax competitive G-7 member.
- Even in comparison to strongly growing emerging economies, Canada’s 2010 marginal effective tax rate on capital is still above average. The planned reductions in federal and provincial corporate taxes by 2013 will reduce Canada’s effective tax rate on new investments to 18.4 percent, below the Organization for Economic Co-operation and Development (OECD) 2010 average and close to the average of the 50 non-OECD countries studied.
- This change in Canada’s tax competitiveness must be maintained in the coming years, as countries are continually reducing their business taxation.
- The continuing bias in Canada’s corporate income tax structure favouring manufacturing and processing business warrants close scrutiny. Measured by the difference between the marginal effective tax rate on capital between manufacturing and the broad range of service sectors, Canada has the greatest gap in tax burdens between manufacturing and services among OECD countries.
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| 6. |
Research Identifies Top Reasons Employees Stay With or Leave Employers |
Date published: 2011
Source: Towers Watson
Description: Retaining key employees is one of the greatest challenges companies will address this year for them to grow and succeed. Fewer than half of employees (48%) surveyed say that their employers do a good job retaining top talent. In addition, employees' intentions to leave their current organization are on the rise, climbing back to pre-recession levels.
5 ways to help retain workers and keep them focused and productive:
- Help Employees Chart Their Careers. According to the research, more than three out of four employees (78%) who plan to remain with their employer believe their employer offers long-term career opportunities for them, while only one-quarter (26%) of those employees who plan to leave feel this way. Additionally, three-quarters of those who plan to stay say they have a reasonably good idea of their career paths at their employer, while just 37% of those who plan to leave feel this way.
- Recognize Good Performers. While eight in ten workers who plan to remain with their employer believe their job performance is evaluated fairly, only 44% of those planning to leave think that's the case. Additionally, three times as many workers who are staying with their employer (60%) are satisfied with how they are recognized versus only 20% who are planning to leave.
- Communicate More. About two-thirds of workers (63%) who plan to remain with their employer say management does a good job of communicating with people, compared to less than one-third of those planning to leave.
- Help Employees Balance Work and Life. More than two-thirds (69%) of workers who plan to stay with their employer feel management generally understands the problems they face in their jobs, and that the company culture supports their need to balance work and life. Conversely, only one out of three workers who are planning to leave has a similar feeling.
- Survey the Workforce. Three in four workers (75%) who plan to remain with their employer feel sufficient effort is made to obtain the opinions and thinking of employees, while just 40% of those planning to leave think this way. Obtaining employees' ongoing feedback is especially critical for retaining top talent, who as a group are often very critical of the organization's leadership and desire greater involvement in driving the business forward.
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| 7. |
Kin in the Game – Family Business Survey |
Date published: 2010/2011
Source: PricewaterhouseCoopers
Description: More than 1,600 family-business owners and managers surveyed in 35 countries.
Key findings:
- Many people are positive about the immediate outlook
- Most companies haven’t changed their business models and don’t plan to in the near future.
- More than a quarter of companies are expected to change hands within the next five years and most expect the business to stay in the family
- Nearly half of all companies have no succession plans
- Equitable division of assets is a problem for many proprietors
- Many companies haven’t prepared for the sickness or death of a key manager or shareholder
- Disagreements about future strategy are the most frequent cause of dissent
- Most companies haven’t adopted any procedures for resolving conflicts between family members
- Simpler tax rules and/or lower taxes top the list of changes family firms want. They also want a stronger corporate compliance environment, better links between industry and universities for product development, and greater access to capital markets.
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| 8. |
Career Benchmarking Survey: Gender Pay Gap Remains |
Date published: 2011
Source: The Institute of Chartered Accountants in England and Wales (ICAEW) and Robert Half
Description: All ICAEW members in businesses other than accountancy practices were invited to complete the survey. A total of 3,169 responses were received.
Key findings:
- Generally salaries and bonuses have recovered since 2010 and are now back to 2009 levels.
- More than half of respondents had a positive salary review during the previous 12 months. The average annual basic salary shows a 4% increase since the 2010 survey and 2% higher than in 2009.
- The average bonus has increased by 32% since the 2010 survey.
- Average salary figures are inflated by a small number of high earners.
- Earnings vary considerably by sector. Those in the banking and capital markets sector remain the highest earners.
- Managers who are recruiting are most commonly looking for skills in financial, management and regulatory reporting and core accounting, bookkeeping and transaction processing.
- Pay and promotion are particularly important in the early stages of their career. Being involved in a range of interesting work and achieving higher levels of responsibility rise in importance as their career progresses.
- Males continue to be better remunerated than females. An average basic salary for females is around 70% of their male colleagues’.
- Overall, the average bonus for males is nearly two-and-a-half times that of their female colleagues. Average bonus for males represents 23% of average basic salary, while females receive only 14%.
- The differential in overall average earnings reflects, in part at least, that males in the sample are typically older. However, earnings for males are higher within each age range, reflecting the influence of other factors that contribute to lower female earnings. Females are more likely to be working part time.
- The other main factor that affects overall average female salary levels is the sector in which they work: a quarter of females are employed in the lower paid government, charity and not-for-profit sectors.
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