According to the survey by the Center for Survey Research and Analysis at the University of Connecticut and Rutgers University, in terms of cost control measures,
- keeping employees to 40 hours per week was first on the list for 44%,
- freezing salaries was cited by 6%, and
- cutting their own salaries was the answer for 4%
Perhaps in keeping with their assessment of layoffs for cost containment, almost half of those responding, or 46%, said they had trouble finding the best workers and almost 30% said they anticipated the same problem in 2002.
Layoffs an Option
While many in the survey opted for something other than separating workers to save money, almost 40% listed layoffs as their leading cost-cutting strategy, the survey found.
But there was a disagreement about who should pay to retrain the at-risk workers so they might find other jobs. Only 14% of employers said they should have to pick up the training costs.
In a separate survey of workers, however:
- some 37% of the sample said that the individual who receives the training should pay,
- just over a quarter said the government should foot the bill, and
- some 17% said it should be employers’ responsibility
The employer survey covered 501 businesses in December, 2001.