Yet another survey on the economic environment! This one gives a sense of how leaders perceive the slowdown and its impact
Mercer – AIMA pulse survey report on the implications of economic environment on talent management was conducted on April 2009 with C-suite and key decision makers. Six questions ranging from hiring, M&A, compensation and benefits and employee engagement were asked to110 respondents from 16 industry verticals.
- 78% felt they would go ahead with original hiring plans
- 54% not planning to transition to temporary employees
- 72% not looking to reduce their workforce – focus was on long term growth
- 37% very likely to reduce bonus or pay
- Impact on employee healthcare: (I see a dichotomy here – 74% said that they were not likely to increase employee contribution for health coverage and 70% were looking at adding to wellness programs to HR initiatives. Unpredictability causes more stress and employees need more support during this period.)
- 82% felt the slowdown with impact issues like job security, promotions and merit.
Communication can improve engagement feels respondents
All felt the need for effective employee communication to give a clear sense of the company’s direction and rationale of current strategy.
Most perceived a likelihood of reduction in discretionary budgets for employee engagement programs. With these measures there was a potential of having disengaged employees, loss of really key talent. The survey results call for larger vision for business to sustain through these times.
What do you think?