The economy is showing signs of improvement but employees appear to be struggling with a form of recession fatigue, according to a quarterly review of employee opinions by Stamford-based Towers Perrin, a global professional services firm.
The survey revealed that employees are expressing more negative views on a range of factors, from long-term career opportunities to company leadership — suggesting the stress of the prolonged recession is intensifying just at the point when the economic tide may be turning.
The most dramatic declines are in employees’ perceptions about their career development opportunities at their current jobs, according to the review.
At the beginning of 2009, slightly over two-thirds of the respondents agreed their company offered them long-term career opportunities. This quarter, that number was down to 57 percent, a 16 percent drop over nine months.
The data showed a corresponding drop in the percentage of respondents who feel they have a reasonably good idea of possible career paths at their company — leveling off at 62 percent from 67 percent in the first quarter of 2009.
"Employees appear to be losing faith in their ability to grow their careers with their current employers, which can present significant talent management challenges as businesses seek to emerge from the recession with an engaged, productive workforce," said Max Caldwell, a managing principal of Towers Perrin. "In some cases, of course, there’s a harsh reality behind the perception; companies have streamlined their organizations, and there may well be fewer jobs overall.
"But a psychological component is at work here as well," said Caldwell. "Many employees are feeling less connected to their employers following rounds of layoffs, budget cuts and ongoing uncertainty. This can affect their willingness to commit themselves for the long term — and prompt more interest in opportunities they might have in other companies or even industries. As we move further into the recovery, employers may see increased, and undesirable, turnover building within their ranks, placing limits on their ability to rebound."
