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Adding up what works–and doesn’t–in a recession

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in Employee Benefits Program,Human Resources,Leaders & Managers,Management Training

It seems the recession has taught the nation’s bean counters a few things about what works when it comes to employee retention and satisfaction.

In a new survey by Robert Half Management Resources, chief financial officers admit their biggest take-away from the recession is that they need to take better care of their workers.

The 1,400 CFOs who participated in the survey said they recognize the value of paying attention to team morale, controlling costs early and not cutting personnel too deeply. They said troubling times have led them to:

  • Focus more on employee morale (27%)
  • Avoid multiple rounds of cost cutting (22%)
  • Retain enough staff to maintain productivity (22%).

If these lessons have staying power, they could help organizations face the next economic downturn.

“Many companies have realized that reducing costs in various operational areas earlier in the downturn would have better prepared them for the slowdown,” says Paul McDonald, executive director of Robert Half Management Resources.

Tip: Read about low-cost employee incentives, recognition programs and rewards in our free report, 12 Ways to Optimize Your Employee Benefits Program.

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