Although worried about a slumping economy, companies nonetheless don’t appear eager to cut jobs.
By Garry Kranz Comments 0 | Recommend 0
Job Stability and the Economy: Companies may be changing their behavior in
dealing with difficult business conditions. A new report by consulting firm
Towers Perrin finds that while HR executives worry about a slumping economy,
cutting headcount is not atop their priority list in 2008.
There is “little
evidence of the slash-and-burn tactics” common in previous down cycles, the
report says. Instead, nearly 60 percent of firms cite growth strategies, either
in the form of reducing nonessential expenses or adding product and service
lines, according to the survey of 650 HR executives.
That’s not to say no layoffs are planned: 40 percent expect to cut at least
some jobs this year, but this may be offset by the 41 percent of firms eyeing
expansion into new global markets. Not mentioned is how many firms actually plan
to hire new staff.
Workforce Management contributing editor Garry Kranz is based in Richmond, Virginia. E-mail editors@workforce.com to comment.
Reproductions and distribution of the above article are strictly prohibited. To order reprints and/or request permission to use the article in full or partial format, please contact our Reprint Sales Manager at (732) 723-0569.
Comments
Guidelines: Comments that include profanity or personal attacks or other inappropriate comments or material will be removed
from the site. We will take steps to block users who violate any of our posting standards, terms of use or privacy policies
or any other policies governing this site. You are fully responsible for the content you post.
= Member Only
