Whilst the economic predictions change almost daily we at least know that the current slow down in our economy will ease.  Organisations must start to focus on engaging employees so the company can grow when the economy turns around.  

 

In the aftermath of large scale redundancies those in the workforce are experiencing what has been coined as ‘survivors guilt.’  This guilt has a negative impact on employee morale, their satisfaction and motivation.  All key factors impacting on productivity.

 

Another interesting research finding from a survey of over 3,000 workers from the CIPD, is that 1 in 5 employees are ‘so unhappy as a result of how redundancies are being handled that they are looking to change jobs as soon as the labour market improves.’  This suggests that the current situation could therefore also be impacting on organisational commitment.

 

Managers are likely to be under significant pressure to deliver business objectives however studies emerging are highlighting these facts cannot be ignored.  Organisations need to act fast to ensure employee engagement and motivation are addressed so during economic recovery they have the employees committed to the growth of the organisation.

 

So what can organisations do?

 

 - Look at ways to develop and grow the talent within the organisation - identify personal development needs and put in place measures to assist

- Ensure a positive work/life balance culture persists – ‘the survivors’ are likely to feel pressure to prove their job is still needed and/or have increasing amount of work with less staff to do it.  Introduce measure to promote the balance between work and life outside work.

- Added value work – ensure employees are aware of how their work contributes to the organisational objectives

- Communication – ensure timely and relevant updates on organisational priorities, changes etc. are provided to all employees

It is interesting what the recession has done to all of us, especially those looking for employment.  Recently our colleagues at Grafton Recruitment in Czech  Republic surveyed both passive and active jobseekers to obtain their insights into how the global recession has impacted their considerations about job opportunities.  In the past they found that the main reasons for changing employment was salary or financial benefits.  The 2,500 respondents to this survey showed a shift in thinking with job satisfaction being more important than financials.  A majority of the respondents (over 70%) were willing to accept a job with lower qualification requirements.  They were also willing to invest in education or retrain, if the outcome was a secure role.  Some will even change their area of expertise.  The survey results show that jobseekers expectation levels adapt with the economic climate.  To read more on the Czech Republic survey go to http://www.grafton.cz/images/stories/cz/PR_MEDIA/Candidate%20Survey.pdf

What we are finding in the UK is that many would like to change companies or even careers but are staying put until the dust settles.  A survey of over 3,000 employees by the CIPD found that three out of four respondents had no plans to find a new job, mainly due to the recession decreasing the number of vacancies available.  A third of those questioned said they wanted to change their job.  One in four said they were looking to switch to a different career.  The CIPD predicts that once the economy improves, the flow of talent will pick up and those that are dissatisfied will move on.  This highlights the fact that companies can not take their people for granted.  The recession may keep the best talent with you for now but taking the time to build employee engagement is necessary if you want them to stay put.

It is interesting to see the differences around the world.  What is your experience?