A downturn is not the time to roll back your budget
Echoing what we’ve been saying about the importance of communication in uncertain times, PR Week’s Julia Hood wrote a great editorial “Employee comms is not a luxury during down times.” She says:
There is a temptation to let employee-engagement initiatives slide when the job market goes cold, as if staffers will naturally be inclined to stick with their companies, however dissatisfied they are, rather than risk the uncertainty of a new job. But employees who are merely riding out a recession before launching a job search is the last group of people you want to retain. Conversely, the cost of recruitment or, worse, the risk of enforced attrition that means you can’t rehire to replace a star who suddenly departs, should convince anyone that it is vital to hang on to the standout individuals. Even in the bad times, high performers will get poached.
You can read the whole article online (subscription required).
Jennifer Benz, SVP Communications Leader, has been on the leading edge of employee benefits for more than 20 years and is an influential voice in the employee benefits industry.
