Without a doubt, the recession takes its toll on businesses but there are benefits that employers glean from the sliding economy and high unemployment rates – employees move around less and obey the rules more.
Difficult times has caused an overall shift in employee habits. While employees of yore valued lofty opportunities and competitive benefits, nowadays they are snuggling up to job security. Employees feel a need to balance the turmoil of the volatile economy with stability. They want to keep their jobs and are willing to make some sacrifices in order to achieve this.
During a recession no one wants to be caught out in the sea of unemployed job seekers. A recent study performed by Career Builder suggests that the sluggish economy is responsible for improved employee behavior. They report that employees are actually starting to come in to work on time. This is pretty big news as it is such a widespread and sensitive issue. Career Builder reports that,
“One-third (32 percent) of employers said they have terminated an employee for being late.”
In the last couple of years the number of employees who chronically come in to work late is down one percent. I guess the remaining 14 percent of tardy workers have experienced a little sympathy from their bosses. Other studies show that employers are reciprocating the need for employee tenure. Businesses who can hold on to employees longer have a better chance at making it through a recession, studies show. In the last couple of years we have seen a rise in the length of employee tenure. The average is up to 4.4 years in 2010 from 4.1 years in 2008.
Employers realize that top performers are a company’s most valuable asset. Great employees hold precious information in their heads and when those heads walk out the door so does all that knowledge. In an economic downturn employers don’t want to have spend dollars training new workers and so they make a greater effort to keep employees happy. For many, the efforts are paying off.