Employees more willing to lose benefits, take furloughs
May 19, 2009 by Sam NarisiPosted in: Economy, Firing, In This Week's E-Newsletter, Latest News & Views
Companies that need to cut in some areas will now find less resistance from employees than they would have a few months ago.
Right now, 40% of employees say they’re willing to take a pay cut, according to a recent survey by the Society for Human Resources Management. That’s compared to 30% last quarter.
The likely reason: Fears of job loss have made workers more interested in alternative ways for their employers to save money.
They’re also more open to other cost-cutting strategies: The survey found 34% would be willing to take unpaid leave, compared to 24%.
May 22nd, 2009 at 12:42 pm
Really…this is the typical mindset from the private sector. You won’t hear of ANY government union worker say that.
June 1st, 2009 at 10:50 am
Good point, Lilly. Most individuals in the private, un-unionized sector are willing to do whatever it takes to make themselves and their companies successful. An entitlement attitude is much more prevalent in a government or union environment.
September 25th, 2009 at 11:46 am
What? Unions concede – right before the doors close for good.
October 19th, 2009 at 3:39 pm
Most state have identified unpaid furlough days for government employees. Local governments, too. And while unions may not like it, the economy has made it more attractive than mass layoffs. We need to be careful about myths and assumptions.