Recession-slashed HR Programs Could Return Soon
Published: Jun 26, 2009
The latest update to an ongoing series of surveys by Watson Wyatt has some pleasant news for your still-employed friends at companies that have implimented cost-cutting changes to pay, benefits and other HR programs. Why should those gainfully working jerks get all the good news? Truth be told, this is stuff you can be excited about, too.
The survey found that 62 percent of companies that have made hiring freezes and 69 percent of those that have made salary freezes plan to eliminate them within the next 12 months. Also, 48 percent that have reduced their employer 401(k)/403(b) matches plan to reinstate them in the same timeframe.
Nice. So, assuming these companies aren't full of it, pretty soon your friends will stop complaining about pay cuts, and you'll stop complaining that nobody's hiring. Or, maybe you won't -- that sort of optimism might require way too much effort.
Companies planning to reinstate some programs cut during the economic crisis [Consultant-News]
--Posted by Steven Schiff, Asst. Producer, Vault.com