Employers Evaluating Workforce in Preparing for Economic Rebound

June 30, 2009 (PLANSPONSOR.com) - Employers are looking at their recruitment and human capital management as they prepare now for when the economy rebounds, according to a recent CareerBuilder survey.

A press release said employers are revising recruitment messaging and investing more in promoting career advancement, flexibility and a work culture that values employees. Steps being taken include:

  • 24% are outlining potential career paths for current and future employees;
  • 24% are offering more employee recognition programs;
  • 21% are offering more flexible work schedules;
  • 20% are revising job listings to emphasize a positive work culture;
  • 18% are revising recruitment materials; and
  • 16% are revamping their company career sites.

CareerBuilder’s survey found 42% of employers have cut certain benefits or perks at their organizations in 2009, with bonuses, medical coverage and 401(k)-matching topping the list of benefits most affected. In preparing for a rebound in the economy, only 14% are looking at offering more competitive pay and benefits.

Looking at a subset of human resource managers, according to the press release, 31% reported they are taking this time to replace lower-performing employees with stronger talent that may not have been available in a healthier economy. Forty-one percent reported they are currently evaluating their hiring process and implementing changes, and 49% are revising retention strategies.

The survey was conducted online within the U.S. by Harris Interactive on behalf of CareerBuilder among 2,543 hiring managers and human resource professionals (employed full-time; not self-employed; with at least significant involvement in hiring decisions; non- government) ages 18 and over between February 20 and March 11, 2009.