While useless regulators are the current hot topic here’s an article from 2006 to add fuel to the fire
APRA staff unimpressed with senior management
By Lisa Murray Sydney
4 May 2006
LESS than a third of Australian Prudential Regulation Authority staff consider themselves "engaged", according to an internal report.
The report, by global consultant Hewitt Associates, comes despite APRA paying some of the highest salaries among government-funded organisations and goes some way to explaining its high staff turnover.
Only 30 per cent of staff felt "engaged", according to the survey, which was revealed in a report last November and presented to the regulator's three-member board.
Hewitt says the result is below the public sector's 43 per cent average, and falls into the "serious zone".
The benchmark for the financial services industry is 54 per cent and Hewitt's "best employers" achieve an 81 per cent average.
The report did not reflect well on APRA's headquarters in Sydney, with only 28 per cent of its staff engaged, compared with more than 40 per cent for other offices around the country.
Staff were critical of senior management, with just 26 per cent of respondents saying they saw "strong evidence of effective leadership".
Only 28 per cent of staff said senior management "acts in ways that encourages collaboration and teamwork across the organisation", while less than one-fifth of respondents felt they were getting enough recognition.
APRA received better scores for embracing diversity, providing learning and development support and flexible work arrangements.
"You do a survey like this so you can look at areas where you can make improvements," APRA deputy chairman Ross Jones said yesterday.
APRA's board members account for three of the top four salaries for full-time public office holders, according to the remuneration tribunal.