CHRO-TV | Jotup

EQS-News: Schaeffler AG and Vitesco Technologies Group AGSign Business Combination Agreement

Retrieved on:

Thursday, December 21, 2023

Integration committee with equal representation to steer the integration process; first meeting already scheduled for this year

Key Points:

Integration committee with equal representation to steer the integration process; first meeting already scheduled for this year
Swift completion of the overall transaction envisaged; Schaeffler and Vitesco will be stronger together
Herzogenaurach | November 27, 2023 | Schaeffler AG (“Schaeffler”) today entered into a Business Combination Agreement (“BCA”) with Vitesco Technologies Group AG (“Vitesco”) to jointly create a leading Motion Technology Company.
Under the BCA, Vitesco will constructively support the overall transaction including the ongoing public tender offer by Schaeffler and the subsequent merger of Vitesco with Schaeffler.
In the best interest of the combined company, Schaeffler and Vitesco will strive to achieve both, revenue and cost synergies.
The subsequently planned merger of Vitesco Technologies Group AG into Schaeffler AG will in turn require the approval of the respective Annual General Meetings of both companies.

EQS-News: Schaeffler AG has secured 29.88 percent of Vitesco Technologies Group AG with its public tender offer

Retrieved on:

Wednesday, December 20, 2023

Completion of tender offer and payment of consideration on January 5, 2024

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Completion of tender offer and payment of consideration on January 5, 2024
Extraordinary General Meeting and separate meeting of non-voting common shareholders on February 2, 2024, as next step
Herzogenaurach | December 20, 2023 | Schaeffler AG (“Schaeffler”) has announced the final result of the voluntary public tender offer (“tender offer”) for all outstanding shares of Vitesco Technologies Group AG (“Vitesco”).
Klaus Rosenfeld, CEO of Schaeffler AG, said: “We are very pleased with the result of the tender offer.
From January 5, 2024, Schaeffler AG will hold a stake of around 30 percent in Vitesco Technologies Group AG.
This publication is for information purposes only regarding the voluntary public tender offer (the “Offer”) of Schaeffler AG (“Schaeffler”) for all shares of Vitesco Technologies Group AG (“Vitesco” or the “Company”) and does not constitute a solicitation to sell or an offer to buy any of the securities of Vitesco.

Phenom Skills Day: Practical Guidance for Using Skills to Mitigate the Risk of Unfilled Critical Roles and Losing High-Potential Employees

Retrieved on:

Friday, November 17, 2023

Professional Services, Technology, Other Technology, Human Resources, Software, Internet, HRIS, Risk, Acquisition, CHRO-TV, Multimedia, Organization, HR, Management, Phenom

Phenom is hosting the industry’s first Skills Day , providing HR with a practical approach to improve the process of hiring, developing and retaining talent using skills.

Key Points:

Phenom is hosting the industry’s first Skills Day , providing HR with a practical approach to improve the process of hiring, developing and retaining talent using skills.
View the full release here: https://www.businesswire.com/news/home/20231117807588/en/
Phenom is hosting the industry’s first Skills Day, providing HR with a practical approach to improve the process of hiring, developing and retaining talent using skills.
Skills Day will help talent acquisition, talent management, managers, HRBPs, HRIS and CHROs truly understand how to approach and practically deploy solutions that mitigate the risk of losing high performers and fill critical roles faster.
The agenda will cover:
The Real-World Use Cases of Skills — Every Company, Every Industry
“The entire HR industry is abuzz with skills.

Survey: Despite Improved Hiring Outlook, HR Leaders' Expectations Worsen

Retrieved on:

Tuesday, December 12, 2023

NEW YORK, Dec. 12, 2023 /PRNewswire/ -- In recent months, America's red-hot post-pandemic labor market has finally begun to cool, though substantial labor shortages remain as a long-feared recession failed to materialize for 2023. Under these more balanced conditions, a new survey of Chief Human Resources Officers finds CHROs are increasingly confident about expanding their companies' workforces: 44% expect to increase their hiring over the next six months—up from 38% in Q3.

Key Points:

Despite the improved outlook on hiring, expectations in the Index's other two component areas—retention and employee engagement—continued to slide in Q4, driving down headline CHRO confidence.
"HR leaders' optimism is waning as recession remains on the horizon to start 2024," said Diana Scott, Leader of The Conference Board US Human Capital Center.
Key findings include:
The CHRO Confidence Index: Hiring component rose to 55 in Q4 2023—up slightly from 53 in Q3.
On average, CHROs' workforce expansion plans improved in Q4:
44% of CHROs expect to increase their hiring over the next six months—up from 38% in Q3.

The Josh Bersin Company Introduces Systemic HR™, a Global Initiative to Redefine the Role of Human Resources in Business

Retrieved on:

Tuesday, December 5, 2023

The Systemic HR Initiative, including a new study, The Definitive Guide to Human Resources: Systemic HR, from The Josh Bersin Company, is designed to help CHROs address these issues.

Key Points:

The Systemic HR Initiative, including a new study, The Definitive Guide to Human Resources: Systemic HR, from The Josh Bersin Company, is designed to help CHROs address these issues.
"We believe adoption of the Systemic HR Initiative moves HR from a service delivery function to a proactive, solution-based consulting and advisory role."
Systemic HR research deliverables include a comprehensive research study, an organizational maturity model, Systemic HR Framework, specific action steps to move to Systemic HR, and a series of in-depth case studies describing the journey towards Systemic HR.
The Josh Bersin Company will also be launching a Systemic HR Awards program, starting at the company's annual executive conference, Irresistible 2024, to celebrate companies that embrace and implement the principles and practices of Systemic HR.

New Joint Research by The Josh Bersin Company and Work Time Reduction Shows that Work Redesign and Productivity Tools Are the Key to the 4-Day Work Week

Retrieved on:

Wednesday, November 29, 2023

Could we be witnessing the start to a similar shift today – this time to a 4-day work week?

Key Points:

Could we be witnessing the start to a similar shift today – this time to a 4-day work week?
But, says the study, a new model has emerged: one which focuses on productivity and work redesign.
The findings show that true "work time reduction," coupled with these practices, outperforms models which focus on condensing 40 hours of work into four days.
"This research collaboration with The Josh Bersin Company offers valuable insights to leaders who are intrigued by the 'why' but unsure of the 'how.'

RGP Study Finds C-Suite Leaders Are Shifting Their Workforce Strategies as They Take on More Transformation Initiatives

Retrieved on:

Tuesday, October 31, 2023

Most respondents predicted an even greater number of transformation efforts by 2026, yet 42% indicated they did not have enough internal talent to staff their transformation initiatives in 2022.

Key Points:

Most respondents predicted an even greater number of transformation efforts by 2026, yet 42% indicated they did not have enough internal talent to staff their transformation initiatives in 2022.
In response to this whirlwind of transformation and a persistent talent shortage, C-suite leaders are shifting their workforce strategies to a greater equilibrium between full-time employees and outside talent.
The proportion of outside talent on transformation teams increased from 38% in 2020 to 45% in 2022, and leaders expect this figure to reach 48% by 2024.
The study also found that skills shortages have wide-reaching impacts on transformation initiatives, with 60% of respondents reporting project start delays and 53% reporting pushed-out completion dates.

Research Finds that Companies Neglected Leadership during the Pandemic, Impacting Organizational Performance

Retrieved on:

Wednesday, November 1, 2023

CHRO-TV, Motivation, Organization, Post-industrial society, Growth, Risk, Prince Harry, Duke of Sussex, Weakness, Empathy, Acceleration, Management, Research

17% of companies are growing their leadership development budgets, with 40% of companies spending less than $500 per employee on leadership development

Key Points:

17% of companies are growing their leadership development budgets, with 40% of companies spending less than $500 per employee on leadership development
And 12% of companies score in the top level of The Josh Bersin Company maturity model.
In fact, almost every company Josh Bersin Company researchers spoke with admitted deep concerns about burnout and performance issues among their first-line managers, mid-level leaders, and even senior directors.
This new research finds a major change: high-performing leaders prioritize people issues first, business issues second.
The full findings can be accessed in the new guide, The Definitive Guide to Leadership Development: Irresistible Leadership , available exclusively to Josh Bersin Company corporate members.

Great Place To Work Announces 'The Great Transformation'

Retrieved on:

Wednesday, October 11, 2023

"These companies have boldly taken action to transform their organizations,” says Michael C. Bush, CEO of Great Place To Work.

Key Points:

"These companies have boldly taken action to transform their organizations,” says Michael C. Bush, CEO of Great Place To Work.
This will be as close to a blueprint for the future of work as anything we’ve seen because the future of work is for all.”
Learn more about The Great Transformation and join the Great Place To Work community to help you on your journey to transform your workplace and become a great place to work for all.
Our work with Great Place To Work and this cohort has already begun to elevate our global people strategy and aligns directly to Cisco's purpose to power an inclusive future for all.
Great Place To Work has had a significant role in helping DHL continue to do just that.

Over a Third of Boards Lack an Onboarding Process for First-Time Directors, Survey Shows

Retrieved on:

Monday, October 16, 2023

Technology, Human Resources, Business, Professional Services, Software, Training, Data Analytics, Education, Artificial Intelligence, Communication, Corporation, General counsel, CHRO-TV, Organization, Interim, Society, Corporate governance, Management, Chairperson

According to the new survey, 34% of public company boards currently do not have a formalized onboarding process in place for their first-time directors.

Key Points:

According to the new survey, 34% of public company boards currently do not have a formalized onboarding process in place for their first-time directors.
The statistic is alarming considering the same survey shows that 90% of companies added at least one first-time director over the past three years.
However, 23% of survey respondents expressed concerns that their first-time directors are not engaged and do not contribute meaningfully in strategic discussions.
The survey shows that 71% of companies do not assign their first-time directors a “buddy” or mentor during the onboarding process.