Employers are not taking notice of low employee morale due to the financial crisis suggests a new report from recruitment company Hudson.
The results, part of a report called Talent Tightrope: Managing the Workplace through the Downturn, has found that employers are unaware of their employees’ stress levels.
Hudson executive general manager Marc Burrage says that 44 percent of the 2394 employees surveyed indicted that worker morale has plummeted.
“In contrast, only 26 percent of the 247 employers interviewed acknowledge that workplace morale has dropped.”
He adds that local companies have responded to the global recession by slashing workforce costs through restructures and staff cuts.
“The results show that over half of the companies surveyed [51 percent] say revenue has declined, 41 percent have downgraded their profit outlooks, 37 percent have undergone a restructure and over a third [35 percent] have made roles redundant.”
According to Burrage, discontent is brewing.
“Almost a third of employees are concerned about losing their jobs. This is a very different scenario to only one year ago. Nearly half [42 percent] said they feel their job is less secure than the same time last year, but even though they now fear more for their jobs, it doesn’t necessarily mean they want to stay with their current employer.”
The report also found 54 percent of employees indicated the workplace is more stressful since the downturn.
Auckland employees had the highest stress levels at 64 percent with Wellington employees having stress levels at 50 percent.
Burrage says it is now a good time to train frontline managers and provide leadership coaching so they can lead the company through the downturn.
“Where cost restrictions make it harder to reward staff, ensuring that the best performers are recognised will help retain top talent.”