What HR managers told us: How are you responding to the recession?
April 30, 2009 by Jim GiulianoPosted in: Hiring, In this week's e-newsletter, Latest News & Views, Management, Money, Retention and turnover, What HR managers told us, policies
We asked 267 HR managers what they or their companies have been doing to respond to the recession. Here’s what they said.
(Percentage totals do not add up to 100 because some respondents said they tried more than one approach.)
- Hiring freezes: 66%
- Wage freezes: 63%
- Layoffs: 60%
- Decreased benefits: 31%
- Furloughs: 18%
Some comments by the respondents:
“Concern among employees about being laid off, even though we are doing well and have communicated that many times.”
“Reassigned employees to new positions involving cuts in pay and, in some instances, benefits. More on the way.”
“Employees are borrowing against or withdrawing from 401(k)s at a higher rate than normal.”
“More motivational activity and employee-relations efforts. Employees are seeking a good and encouraging word.”
“We’re streamlining; all employees must do more with a tighter budget than last year’s. Managers must work harder to keep employees engaged, focused and positive.”
