Morale Got Downsized, TooGene Koretz
It's no surprise that employee morale suffered in the wake of corporate restructuring. According to a recent Wyatt Co. nationwide survey of 4,300 working Americans, only 57% of workers in downsizing companies indicated they were generally satisfied with their jobs, compared to 72% of workers in expanding outfits.
The good news, however, is that employers are waking up to the problem and that the downsizing trend itself may be losing steam. Cambridge Human Resources Group Inc., a Chicago-based outplacement firm, says a survey of corporate human-resources executives reveals that "revitalizing their workforces and restructuring the workplace in downsized companies" are their top priorities in 1995. Meanwhile, Human Resource Executive magazine reports that the nation's top 50 employers cut their net payrolls by only 92,300 employees last year, down from a drop of 146,800 in 1993.