Seventy-five percent of employees at companies that have had layoffs, furloughs, suspended 401(k) matches or that have taken other cost-cutting measures, have faith their employer is taking the right action to strengthen the company, according to a Zoomerang survey for iDashboards.
Sixty-percent of respondents said their company has taken some form of action to cut back--be it layoffs (54%), travel restrictions (38%) or employee furloughs (13%).
Surprisingly, 80% said their salary has either remained the same or has increased, which might be the reason for the strong support of their companys budgetary measures. Among this group, 12% said their salary had increased, and 68% said it had remained the same.
In addition, employees said they appreciated their employers honesty about the standing of the firm.
Seventy-four percent said they do not plan to seek another job in the next 12 months, and many said they would be willing to take on additional responsibilities.
Our survey shows that a corporations greatest assets, its people, are proving to be extremely resilient in these tough economic times, said Shadan Malik, president and CEO of iDashboards. Now is the time to reward employees, perhaps with non-monetary perks, like tools and technologies to make their jobs easier and let them know that their efforts are making a difference. Respondents said they also liked dress-down days, vacation time and contests.
Perhaps this positive attitude toward cost-cutting is also helping employees to remain committed to saving for and planning a more moderate retirement.