Recession effect: More loyal and committed employees!
One third of employees who were after the economic recession found out to be more loyal and committed towards their company according to a study. This difficult phase helped workers and bosses to come closer and strengthening bonds. This study was done by Kelly services, a global workforce solutions provider. The survey was conducted between October 2009 and January 2010.
The total population of the survey was 1,34,000. Out of these over 4000 were Indians. 36% of respondents in India said that economic distress has made them more loyal whereas 5% said that they are less loyal. 58% said the distress had not made any difference. The companies are taking this as a very positive behavior. This heightened loyalty is likely to become a real advantage, with a more committed and focussed workforce, as the economy recovers,” Kelly Services Managing Director India Kamal Karanth said.
When asked to name the one thing that would make an employee more committed to their job, 52% cited ‘more interesting or challenging work’, followed by ‘more meaningful responsibility’ (21%), the Kelly Services survey said. In assessing a firm’s reputation, employees place most weight on the quality of its leadership, products and services and employees. Least important are features such as global presence, financial performance and initiatives aimed at fostering corporate social
responsibility, it said. “When we look at the things that motivate people in the workplace, it’s clear that opportunities for personal growth and development are critical, as is the chance to perform stimulating and challenging work,” Karanth said.
“Pay is certainly a motivator but it’s not as big as some imagine, which means that employers have to examine a broader range of employee conditions and business features if they want to have the workforce performing at its best,” he added.