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July 13, 2009
As the nation works toward recovering from one of the steepest downturns in U.S. history, employers are preparing now for when the economy rebounds, according to a recent CareerBuilder survey. Seventy-two percent of employers who have employment brands say they are taking measures to strengthen those employment brands today, so they are competitively positioned for an upturn down the road.
Employers are working to remedy the fallout of a grueling economy. The U.S. has lost 6 million jobs since the recession began in December 2007, according to the Bureau of Labor Statistics. In addition to layoffs, CareerBuilder’s survey found 42 percent of employers have cut certain benefits or perks at their organizations in 2009. Bonuses, medical coverage and 401(k)-matching topped the list of areas most affected.
As companies struggle with shrinking departments and tighter budgets, a greater emphasis is being placed on internal and external communications to improve employment brands. Thirty-seven percent of employers with employment brands are communicating more frequently with employees about company successes and 29 percent are promoting company successes and awards through press releases.
Employers are also revising recruitment messaging and investing more in promoting career advancement, flexibility and a work culture that values employees:
· 24 percent are outlining potential career paths for current and future employees
· 24 percent are offering more employee recognition programs
· 21 percent are offering more flexible work schedules
· 20 percent are revising job listings to emphasize a positive work culture
· 18 percent are revising recruitment materials
· 16 percent are revamping their company career sites
Only 14 percent of these employers are looking at offering more competitive pay and benefits.
"Employers have had to make tough decisions this year and are working to diffuse potentially negative consequences," said Brent Rasmussen, president of CareerBuilder North America. "Of those who had layoffs in their organizations, 45 percent said it had adversely impacted their employment brand. Many are getting back to the basics to connect with employees and candidates, and are instituting a complete overhaul of recruitment and retention practices."
Looking at a subset of human resource managers, 31 percent reported they are taking this time to replace lower-performing employees with stronger talent that may not have been available in a healthier economy. Forty-one percent reported they are currently evaluating their hiring process and implementing changes. Forty-nine percent are revising retention strategies.
Other measures being taken to prepare for when the economy turns around include:
· 30 percent are planning a new marketing strategy
· 24 percent are ramping up training programs
· 20 percent are working on a new product line or enhancing existing products
· 20 percent are implementing a new succession plan
Looking forward, employers believe the economic stimulus plan will help to generate opportunities for their companies. Nearly half (48 percent) of human resource managers believe the economic stimulus will bring more business to their organizations; 23 percent anticipate it will create more jobs within their organizations.
About CareerBuilder
CareerBuilder is a global leader in human capital solutions, helping companies target and attract their most important asset – their people. Its online career site, CareerBuilder.com, is the largest in the U.S. with more than 23 million unique visitors, 1 million jobs and 31 million resumes. CareerBuilder works with the world’s top employers, providing resources for everything from employment branding and data analysis to talent acquisition. More than 9,000 Web sites, including 140 newspapers and broadband portals such as MSN and AOL, feature CareerBuilder’s proprietary job search technology on their career sites. Owned by Gannett Company Inc., Tribune Company, The McClatchy Company and Microsoft Corporation, CareerBuilder and its subsidiaries operate in the U.S., Europe, Canada and Asia.
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