Survey: CFOs Say Greatest Lesson From Recession is Keeping Employees Happy
MENLO PARK, CA, March 24 -- The biggest takeaway from the recession for employers could well be to take better care of their workers, according to a recent survey of chief financial officers (CFOs). Nearly three in 10 (27 percent) executives surveyed said they learned not to overlook team morale. CFOs also cited the value of controlling costs early on (22 percent) and not cutting personnel too deeply (22 percent).
The survey was developed by Robert Half Management Resources, the world's premier provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 1,400 CFOs from a stratified random sample of U.S. companies with 20 or more employees.
CFOs were asked, "Which one of the following is the greatest lesson you have learned from the recession?" Their responses:
Place greater focus on maintaining employee morale
Take decisive measures more quickly to avoid multiple rounds of cost cutting
Make sure you have enough staff to maintain productivity
Implement more detailed succession rounds for company
No lessons learned
Don't know/no answer
"Without a motivated workforce and adequate staffing levels, companies can be ill-equipped to take advantage of improving market trends," said Paul McDonald, executive director of Robert Half Management Resources. "They may also risk losing top employees as the job market strengthens."
McDonald added, "Many companies have realized that reducing costs in various operational areas earlier in the downturn would have better prepared them for the slowdown."
About the Survey
The national study was developed by Robert Half Management Resources. It was conducted by an independent research firm and is based on more than 1,400 telephone interviews with CFOs from a random sample of U.S. companies with 20 or more employees. For the study to be statistically representative and ensure that companies from all segments are represented, the sample was stratified by geographic region and number of employees. The results were then weighted to reflect the proper proportion of employees within each region.
About Robert Half Management Resources
Robert Half Management Resources is the premier provider of senior-level accounting and finance professionals to supplement companies' project and interim staffing needs. The company has more than 145 locations worldwide and offers online job search services at www.roberthalfmr.com. Follow Robert Half Management Resources at twitter.com/roberthalfmr for workplace news.