You Kept Your Employees During the Great Recession: Now You Owe Them?

摘要

Employees are our most important asset." Companies often recite this cliché, often without supporting action. That is, until their most important asset becomes their competitor's most important asset. During the worst economic recession since World War Ⅱ, many construction firms scraped together any available resources possible to provide pay and benefits to valued employees. Although some were forced to reduce pay, decrease benefits and cut back on learning and development, most firm owners took substantial hits to their equity as a trade-off to keep talented employees from suffering loss of jobs and benefits as well as the security and esteem of holding a steady position. Owners making these difficult decisions justified the cost with the need to have qualified staff when the markets picked back up.