A few more interesting points to follow up on yesterday’s entry about the state of work in today’s broken economy (from our study for Glassdoor.com conducted in March 2009).
1) About one in four employed Americans (26%) are concerned that they personally will be laid off from their job in the next six months. But almost half (44%) are concerned that others at their company will be laid off. Is this a case of “everyone else is a worse driver than me?” or is everyone just hearing the same rumor about that guy in the mail room?
2) Morale, optimism, and a sense of stability are – understandably – harder to come by among workers at companies where lay-offs have recently taken place or been communicated. These employees are also more likely (than those at companies where layoffs have not taken place in the past six months) to have experienced stress at work and to have had that stress spill over into other areas of their lives. So, in a time of uncertainty and razor-thin budgets, companies that have reduced their staff need to be taking extra (creative) steps to make things right for the employees who remain. College spirit day, anyone?
3) Many employed Americans (in fact, more than half) say that, if they found out their job was in jeopardy, they would be willing to make a handful of “quantity” concessions – for example, taking on more projects/responsibilities (70%) and increasing the amount of hours worked (62%). But more interesting than that (which seems like a given), less than half say they would be willing to:
- Accept a pay cut (40%) or reduction in health benefits (35%);
- Take a furlough or other unpaid leave (34%); or,
- Forfeit paid vacation or time off (30%).
Really?! It seems to me like these are small compromises to make to save your job, since you would have access to none of this if you were unemployed. But who am I to judge? What are your thoughts? What would YOU be willing to give up to keep your job? Have you already made any such concessions?