The 2009/2010 U.S. Strategic Rewards Survey conducted by Watson Wyatt and WorldatWork, found that cost-cutting actions made by U.S. employers in 2009 to deal with the economic downturn have contributed to a sharp decline in the morale and commitment of their workers, especially top performers.
The survey found that employee engagement levels among all employers dropped 9% since 2008 and have plunged close to 25% among top performers. Additionally, 36% of top performers say their employer’s situation worsened over the past year; the number who would recommend others take jobs at their company has declined by nearly 20%.
Having less engaged and committed workers is a major concern for employers, and could have a long-lasting and detrimental impact on productivity, quality and customer service, as well as an increase in the risk of companies losing their best employees.
The percentage of top-performing employees who say they:
Believe that pay and benefits changes made by their employer in the past year have had a negative effect on work quality and customer service - 41%
Are less confident in management’s ability to grow the business - 29%
Are less likely to be satisfied with advancement opportunities at their company - 26%
Are less likely to want to remain with their companies vs. take a job elsewhere - 14%
