From recession to recovery: how far, how fast, how well prepared?
- Document type
- Corporate author(s)
- Towers Watson
- Towers Watson
- Date of publication
- 1 March 2010
- People management: all aspects of managing people, Management & leadership: including strategy, public sector management, operations and production
- Business and management
- Material type
This study, conducted globally in early January 2020, charts organizational changes since the economic crisis began and expectations for further changes in benefits, compensation and employee engagement over the coming year. More than 450 respondents around the world weighed in, with nearly 200 based in North America. Overall, the employment picture looks mixed, with hiring picking up at some organizations even while others continue to make targeted workforce reductions. And while the slow job market of the last 12 months has not presented retention challenges for employers, many respondents do expect retention to become more of a concern in the recovering economy. The survey results also underscored the impact that reductions or freezes in pay and benefits have had on employees. According to respondents, at least a fifth or more of their eligible employees are postponing retirement, prompting increased concerns about the effect this will have on workforce planning and management overall.
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