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Monday water cooler: Worker worry; commuting chums; regulatory chill?
Monday, September 05, 2005

Worker worry

The economy might look reasonably robust on a statistical basis, but the American worker's persistent unease has been well-documented in recent months, with job security and health-care costs leading our list of worry.

What might a company do to alleviate these concerns?

Neil Lebovits, president and chief operating officer of Ajilon Professional Staffing, a unit of Swiss-based human resources outfit Adecco Group SA, offers a few tips.

Encourage 401(k) contributions. Millions of people skip this opportunity at work, often passing up "free money" from employers who match, and millions of others make far punier donations than prudent.

Promote good health. The rise of paid gym memberships and group workout sessions is a wise start. But smoking cessation efforts, abundant healthy snacks in lieu of junk food machines and walking clubs also would be good.

Chronic disease control. Diseases such as diabetes, hypertension, asthma and depression can cause absenteeism to soar. Address some of these conditions at the job site. Consider blood pressure testing, weight and cholesterol management campaigns, and blood sugar exams.

Commuting chums

Perhaps it's a daily ritual: You're sitting on the freeway, stuck in traffic, trying to reach work on time. Who would make a good car companion?

An insurance company posed this question, and more than 1,100 people answered it. Surprisingly, celebrities on the order of Paris Hilton and George Clooney weren't very appealing for a large majority.

Instead, men chose their wives or significant others, while women said they'd prefer to ride with a best friend.

Nearly half (44 percent) said their favorite music would be good while sitting in traffic, while phone gabbing came in No. 2 with 29 percent. About a fifth of women said they'd prefer to read (presumably while riding as the passenger.)

The survey was conducted the first week of August for AIG Auto Insurance, a unit of New York-based insurer AIG International Inc.

Regulatory chill?

Holding company directors personally responsible for accounting malfeasance might be having an unintended consequence -- fewer people wanting to be directors, according to a survey by Grant Thornton LLP, the large accounting concern.

The new liability came with the landmark Sarbanes-Oxley law, aimed at reforming corporate governance practices following the avalanche of U.S. accounting fraud cases in the early 1990s.

But 65 percent of senior financial executives at 101 public companies said the law had made it more difficult to recruit corporate directors. At private companies, 78 percent of the surveyed officials said it wasn't difficult to find directors.

Among the other findings: 79 percent think the current reporting model needs updating, and 76 percent thought stock options ought to be counted as expenses. Contrary to what many politicians and the public think, nearly three-quarters, 74 percent, of the financial executives thought it was appropriate for an accounting firm to perform both auditing and tax work for a client.

"Sarbanes-Oxley was a needed watershed event in corporate governance, but along with the greater protection of investors, there are increased time requirements for directors," said Ed Nusbaum, Grant Thornton chief executive officer. "But an even greater obstacle is the fear of litigation."

The survey was conducted in May by the Center for Strategy, Execution and Valuation at DePaul University's Kellstadt Graduate School of Business.

First published on September 5, 2005 at 12:00 am