Top priority and the most common actions with companies now is cost reduction by making employees redundant, firing them, cutting back the budgets for company events and bringing down the costs of training and education. In a recent White Paper ' Creating People Advantage in Times of Crisis, How to Address HR Challenges in the Recession' published by the Boston Consulting Group (BCG) and the European Association for People Management (EAPM) in March 2009 most frequently used actions are listed. All these actions have an impact on employee commitment. Some have a positive impact, such as making layoffs dependent on individual performance and increasing the use of early retirement. Others like laying off full time employees and reducing base salaries have a strong negative impact.
Whatever actions taken, companies should not forget the long term. Talent will remain a scarce article and the demographical developments will not be stopped. In a few years, when there will be a new demand for talented people employer branding will be back in the top 10.
Employees will remember how they were treated in the recession. They have a very long memory and will not forget.
How is this element handled in your company? Let us know.
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