Changing face of reward: engaging employees through the recession - research by Vebnet and Ceridian
In 2009, UK businesses have faced some of the toughest trading conditions yet. For many HR professionals, the focus has been on the reorganisations and downsizing that were necessary for organisational effectiveness in this time. Recent news reports suggest recovery is on the horizon, but predict this will be slow and that the next 18 months will bring new challenges (CBI, 2009).
With the future in mind, HR professionals will have to think creatively to satisfy cost control and reduction needs whilst maintaining employee engagement, motivation and productivity.
Ceridian and Vebnet surveyed more than 1,000 UK employees across a range of sectors, to understand the impact of the recession on employees’ priorities and how this will shape people policies moving forward.
Key findings
- Half (49%) of those surveyed state ‘day-to day’ living as their top financial priority
- More than a quarter still rate their company pension as the most important benefit offered to them
- 18% of employees feel negatively towards their employer because of the lack of support they have received
- Nearly a quarter (23%) have had new benefits or flexible benefits introduced as a direct result of the recession
- More than a quarter would like to renegotiate their remuneration packages when the upturn arrives
- 79% would be more inclined to stay with their current employer after the recession if they were given more support in managing their finances and lifestyle.
To download the full research report, please go to the box in the top right-hand corner of this page.
The research was launched with a roundtable debate of senior HR professionals from organisations like E C Harris and DTZ and industry experts such as CIPD and Roffey Park on 14th October 2009.
Read more about the discussion in an article in Personnel Today.
Watch videos on the key topics from the discussion.