Employers that offer voluntary redundancies when forced to downsize are at risk of losing invaluable knowledge and experience and having their best talent turn into competition.
Executive bonuses will tumble and "people factors" come to the fore as leading employers emerge from the global financial crisis, according to a new book on organisational change.
Employers that fail to treat staff with compassion and tact during the economic crisis will see their talent flee when the economy turns - and it will turn within 12 months, says Team Leaders managing director, James Adonis.
A single recruit can cost a company more than $100,000, and employers are at risk of squandering that investment if the new hire doesn't feel "attached", says Sork HC managing director, Anthony Sork.
Leaders who believe they can cease efforts to keep employees engaged during the downturn risk damaging their company's financial performance, according to Gallup research.
Employers that align their external and internal brand message by engaging new hires and turning them into company advocates can expect productivity to increase by up to 30 per cent a year, according to an HR analyst.
Google is famous for its employees perks but they're not what keeps it attrition rate around two per cent, says Sue Polo, director of HR - engineering and operations.
With nearly four in five employees believing they will receive a pay rise in the next 12 months - and more than a third also expecting a bonus - employers must be open and realistic about remuneration this year, says Randstad CEO Debra Loveridge.
Australian HR departments are struggling to meet the challenges created by recession-driven cost-cutting with fewer resources and less control over decision-making, a new study confirms.
"New entrant" airlines investing heavily in employee development and resisting the urge to "slash and burn" their workforce during economic slumps are outperforming the industry giants, says a new book on the flight trade.
Some employers have successfully stepped up to the task of managing psychosocial safety, but in many other workplaces, initiatives are falling flat. Join us for an HR Daily webinar to understand what's holding back progress in this critical space and how to move forward.
