**GAO-01-947**                      Published: Sep 17, 2001. Publicly Released: Oct 23, 2001.                  

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## Highlights

The U.S. Securities and Exchange Commission's (SEC) human capital management practices have been shaped largely by a growing staffing crisis that threatens to undermine the agency's ability to carry out its mission. GAO surveyed current and former SEC attorneys, accountants, and examiners to determine what factors  influenced turnover, satisfaction, and morale among SEC staff. GAO found that inadequate compensation is the primary reason that employees leave the agency. But staff raised other issues that warrant attention, including limited opportunities for advancement, the amount of uncompensated overtime, and the quality of administrative support services. In response to the high turnover rates, SEC has placed greater emphasis on compensation-based human capital programs, including compensation-based flexibilities and performance awards. Although SEC uses compensation-based flexibilities to a greater extent than do other government agencies, the Office of Personnel Management believes it could do more. SEC has taken several steps to focus more attention on strategic human capital management but faces continuing challenges. In April 2001, SEC integrated its human capital strategies with it's core business practices by adding a human capital goal to its 2002 Annual Performance Plan. SEC has also developed an extensive recruiting program for attorneys.

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## Topics

Human Capital

CompensationFederal employeesHuman capitalHuman capital managementJob satisfaction surveysLabor forcePersonnel managementStaff utilizationStrategic planningHuman resources management