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    Subject Term: "Consulting firms"

    1 publication with a total of 5 open recommendations
    Director: Clowers, Angela N
    Phone: (202) 512-8678

    5 open recommendations
    Recommendation: To help SEC address identified personnel management challenges, and to enhance SEC's ability to strategically hire and retain the appropriate number of staff with the requisite skill sets for today and in the future, the Chairman of SEC should direct the Office of the Chief Operating Officer (COO) and Office of Human Resources (OHR) to prioritize efforts to expeditiously develop a comprehensive workforce plan, including a succession plan, and establish time frames for implementation and mechanisms to help ensure that the plans are regularly updated.

    Agency: United States Securities and Exchange Commission
    Status: Open

    Comments: In July 2016, SEC created a workforce and succession plan consistent with Office of Personnel Management (OPM) guidance, but they do not include some key components of strategic workforce and succession planning identified by OPM and our previous work. For example, the plan lacks a comprehensive skills gap analysis, does not inform decision making about the structure of the workforce, and is not clearly linkd to its budget formulation.
    Recommendation: To help SEC address identified personnel management challenges, and to enhance SEC's ability to strategically hire and retain the appropriate number of staff with the requisite skill sets for today and in the future, the Chairman of SEC should direct the Office of the COO and OHR to incorporate OPM guidance as it develops its workforce and succession plans, by developing a formal action plan to identify and close competency gaps, and fill supervisory positions; and institute a fair and transparent process for identifying high-potential leaders from within the agency.

    Agency: United States Securities and Exchange Commission
    Status: Open

    Comments: SEC's workforce and succession plan finalized in July 2016 is consistent with some Office of Personnel Management (OPM) guidance, but lacks some key components of strategic workforce and succession planning. SEC's workforce plan is aligned with its strategic plans, references the goals outlined in those plans, and includes performance measures to monitor and evaluate SEC's progress towards its goals. SEC's workforce planing also involves relevant stakeholders, including division and office leadership, SEC University (SEC's lead office for training), and focus groups of SEC employees. However, SEC's workforce plan lacks a comprehensive skills gap analysis. For example, SEC's workforce plan did not include an assessment of the competency of 33 percent of its workforce, including mission-support staff, such as staff in the Office of Human Resources, and supervisors. Further, SEC's workforce plan does not inform decision making about the structure of the workforce and is not clearly linked to budget formulation. For example, the workforce plan does not identify the personnel costs of the current workforce, nor does it identify the number of employees SEC intends to hire and their associated costs. Finally, SEC's succession planning lacks information on workforce attrition and lacks a process for identifying future leaders.
    Recommendation: To help SEC address identified personnel management challenges, and to help enhance the credibility of its performance management system, the Chairman of SEC should direct the COO and OHR to conduct periodic validations (with staff input) of the performance management system and make changes, as appropriate, based on these validations.

    Agency: United States Securities and Exchange Commission
    Status: Open

    Comments: In 2014, SEC decided to redesign its performance management system without formally assessing it. While SEC's policies state that the Office of Human Resources (OHR) is to perform an assessment of the system on an annual basis, OHR officials told us that SEC has not conducted a formal assessment of the performance management system because the agency is in the process of developing a new system. Since our 2013 report (GAO-13-621), SEC has not reviewed the effectiveness of its existing system and has had limited stakeholder involvement in the development of the new performance management system. In developing this new system, SEC did not assess the existing system to understand if the issues raised by employees were related to the system's design or its implementation.
    Recommendation: To help SEC address identified personnel management challenges, and to build on SEC's efforts to enhance intra-agency communication and collaboration, the Chairman should direct the COO to identify and implement incentives for all staff to support an environment of open communication and collaboration, such as setting formal expectations for its supervisors to foster such an environment, and recognizing and awarding exceptional teamwork efforts.

    Agency: United States Securities and Exchange Commission
    Status: Open

    Comments: While SEC has created some incentives to support communication and collaboration across divisions, as of December 2016, barriers to cross-divisional communication and collaboration still remain. For example, SEC has implemented some incentives and procedures for staff to communicate and collaborate, such as an annual agency-wide awards program that recognizes outstanding teams and a tracking system that facilitates collaboration on interdivisional memorandums. In addition, one division (the Division of Economic and Risk Analysis) created an electronic system that allows other divisions to request data it collects and another division (the Division of Enforcement) created formal liaisons that other divisions and offices can contact. However, incentives for staff to support an environment of open communication and collaboration are not present for all staff across SEC. SEC has added performance expectations for 53 percent of supervisors to encourage communication and collaboration, including promoting and maintaining an environment of cooperation and proactively sharing relevant information. But these expectations were not present for the remaining 47 percent of supervisors across divisions and occupations.
    Recommendation: To help SEC address identified personnel management challenges, and to build on SEC's efforts to enhance intra-agency communication and collaboration, the Chairman should direct the COO to explore communication and collaboration best practices and implement those that could benefit SEC.

    Agency: United States Securities and Exchange Commission
    Status: Open

    Comments: As of December 2016, SEC has not demonstrated the use of best practices to improve communication and collaboration within and across SEC divisions and offices. SEC officials told us that they reached out to officials at the Federal Deposit Insurance Corporation (FDIC) to discuss how FDIC had obtained high survey scores related to communication and collaboration. This outreach resulted in the creation of SEC's "All Invested" initiative, which SEC described as an initiative to encourage collaboration and communication to help the agency achieve its mission and make SEC the best place in government to work. However, many of the supervisors and staff we spoke with told us that the "All Invested" initiative was more of a marketing campaign than a substantive change. In addition, SEC has established a number of working groups to improve communication and collaboration, but these working groups are often focused on specific topics and do not provide a means for divisions and offices to collaborate on the full range of their day-to-day work activities.