Get access to the exclusive HR Resources you need to succeed in 2018.
Sign up for free email newsletters and get more SHRM content delivered to your inbox.
Is your employee handbook keeping up with the changing world of work? With SHRM's Employee Handbook Builder get peace of mind that your handbook is up-to-date.
Build competencies, establish credibility and advance your career—while earning PDCs—at SHRM Seminars in 14 cities across the U.S. this fall.
Gain the skills you need to rise to the next level in your career. Jon us at SHRM's Leadership Development Forum, October 2-3 in Boston.
Members may download one copy of our sample forms and templates for your personal use within your organization. Please note that all such forms and policies should be reviewed by your legal counsel for compliance with applicable law, and should be modified to suit your organization’s culture, industry, and practices. Neither members nor non-members may reproduce such samples in any other way (e.g., to republish in a book or use for a commercial purpose) without SHRM’s permission. To request permission for specific items, click on the “reuse permissions” button on the page where you find the item.
Alexandria, Va. – In a sign the economy is inching toward recovery, fewer employers froze wage increases, cut employee bonuses, and implemented layoffs in the last six months, according to a new poll of human resource professionals.
The poll –
“Financial Challenges to the U.S. and Global Economy and Their Impact on Organizations—Fall 2010 Update” – released today by the
Society for Human Resource Management (SHRM) found that 60 percent of businesses made budget cuts across the entire organization, down from a high of 73 percent in the fall of 2009.
A third of surveyed organizations froze employee wages (39 percent), cut employee bonuses (38 percent) and implemented layoffs (36 percent), down from their highest levels in the fall of 2009.
”Organizations are responding to minor improvements in the economy by reinstating employee wage increases and bonuses which shows that they are invested in keeping their workforce intact,” said Evren Esen, manager of SHRM’s Survey Research Center. “Fewer organizations have hiring freezes and layoffs both signs that some job growth is occurring.”
Employers continue to struggle through lasting effects of the recession as 20 percent indicated they had to reduce employee benefits in the last six months, the highest level since the fall of 2008, when the first in this series of economic polls was released.
Thebenefits most frequently reduced were health care coverage for employees (91 percent), health care coverage for spouses and dependents (89 percent), company paid relocation programs (55 percent) and the amount of leave an employee could accrue (54 percent).
HR professionals indicated actions their organizations could take in the next six months if current financial challenges continue, including:
The poll, which measures opinions held by 405 randomly selected HR professionals, was conducted Nov.8, 2010 – Jan. 13, 2011. Other key findings were:
For more information on poll findings, visit
www.shrm.org/surveys. Follow SHRM research on Twitter at
http://twitter.com/SHRM_Research and SHRM Media Relations at
The Society for Human Resource Management (SHRM) is the world’s largest association devoted to human resource management. Representing more than 250,000 members in over 140 countries, the Society serves the needs of HR professionals and advances the interests of the HR profession. Founded in 1948, SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China and India. Visit SHRM Online at
Follow us on Twitter at:
You have successfully saved this page as a bookmark.
Please confirm that you want to proceed with deleting bookmark.
You have successfully removed bookmark.
Please log in as a SHRM member before saving bookmarks.
Please sign in as a SHRM member before saving bookmarks.
Please purchase a SHRM membership before saving bookmarks.
An error has occurred
Recommended for you
The SHRM Member Discounts program provides member-only access to discounts on products and services you can apply to your life and career, and share with your company.
SHRM’s HR Vendor Directory contains over 10,000 companies