A press release said the survey of 704 human resource professionals found 67% will focus their efforts on retaining and engaging employees instead of making cutbacks. Thirty-three percent of organizations plan to reduce their workforce.
“While layoffs are anticipated given the market volatility, what is surprising is that so many organizations are planning to invest in their employees. Organizations need to keep key positions filled. And the best strategy is to develop the employees they have to meet current and future needs so they can respond quickly to changing market demands and remain competitive,” said Right Management’s President and COO Douglas J. Matthews, in the press release.
Matthews advised that listening and demonstrating empathy, as well as a leader’s ability to communicate effectively, can go a long way in engaging the workforce.
The online poll was conducted between June and October 2008, with responses from executives from a wide range of industries.