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| Documents/FRB/6: Board Programs/6.2: Staffing Policies, Oversight, and Measurement |
6.2: Staffing Policies, Oversight, and Measurement Develop appropriate policies, oversight mechanisms, and measurement criteria to ensure that the recruiting, training, and retention of staff meet Board needs. Other Information: Develop appropriate policies, oversight mechanisms, and measurement criteria to ensure that the recruiting, training, and retention of staff meet Board needs. This objective will be pursued in part through the following actions: • Ensure that the Board’s compensation systems continue to attract qualified staff and reward and motivate employees as desired. • Ensure that appropriate processes exist to facilitate development of a Boardwide succession plan that minimizes disruption and maximizes knowledge transfer. • Use data, such as turnover data, exit interviews, and hiring data, and other relevant input to gauge the effectiveness of management actions. Discussion: Effective management of human resources is one of the most critical tasks facing the Board through the planning period. Changing requirements associated with technology, communications, demographics, employee needs and expectations, performance measurement, and market rates of pay are among the factors that will cause the Board to focus more carefully on steps to attract, retain, and train staff to meet increasingly complex requirements. Indicator(s):
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