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GAO-05-118R 1 (2004-11-10)

handle is hein.gao/gaocrptaqpc0001 and id is 1 raw text is: SGAO Accountability * Integrity Reliability United States Government Accountability Office Washington, DC 20548 November 10, 2004 The Honorable William H. Donaldson Chairman Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Subject: Securities and Exchange Commission Human Capital Survey Dear Chairman Donaldson: This document presents the results of a recent GAO survey of human capital issues at the Securities and Exchange Commission (SEC). In March and April 2004, we conducted a follow-up to our 2001 human capital survey of SEC attorneys, accountants, and examiners to benchmark their views after the agency had implemented pay parity and work-life programs.' 2001 SEC survey respondents were overwhelmingly dissatisfied with pay and identified other nonpay issues as warranting SEC management's attention. The 2004 survey generally covered the same issue areas that we addressed in the 2001 survey, including (1) compensation, (2) overall job satisfaction, (3) work-life balance, (4) supervision and management, (5) performance appraisal and incentive system, (6) opportunities for advancement, (7) organizational structure and support, (8) communication within divisions and offices, and (9) training. As shown in enclosure I, compared to the 2001 SEC survey respondents, the 2004 respondents were significantly more satisfied with their pay and their ability to use flexitime and flexiplace.2 The improvement in employee satisfaction with compensation and worklife programs could be attributed to SEC's recent implementation of pay parity3 and increased focus on implementing work-life programs. In addition, overall the employees remained satisfied with their jobs and the meaningfulness of their work. While employee satisfaction has improved with respect to compensation and worklife 'GAO, Securities and Exchange Commission: Human Capital Challenges Require Management Attention, GAO-01-947 (Washington, D.C.: Sept. 17, 2001). 2A flexitime work schedule allows employees to start work earlier or work later or work a compressed schedule of fewer than 10 workdays per pay period. A flexiplace arrangement allows employees to work a portion of the time at home or at another location. 3In 2002, the Investor and Capital Markets Fee Relief Act exempted SEC from general federal pay restrictions and provided the agency with pay parity-the authority necessary to bring salaries in line with those of other federal financial regulators. 4Work-life programs help employees balance their work and family lives and include compressed work schedules, alternate work schedules, telecommuting, and part-time work arrangements. GAO-05-118R SEC Staff Survey

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