What’s Being Planned Because of the Economy

Dec 19, 2008
This article is part of a series called News & Trends.

Here’s what companies are doing and plan on doing because of the slower economy. Watson Wyatt’s survey was conducted during the week of Dec. 8, and includes responses from 117 companies across a variety of industries.

ActionChange already madeChange planned in the next 12 months
Travel restrictions48%16%
Hiring freeze47%18%
Downgrade/cancel holiday party35%8%
Increase benefits communication32%35%
Eliminate/reduce seasonal workers28%16%
Organization-wide restructuring23%21%
Eliminate/reduce training23%18%
Raise employee health premium contribution20%17%
Increase pay communication16%43%
HR function restructuring14%21%
Salary freeze13%19%
Mandatory holiday shutdown13%5%
Reduce/eliminate other employee programs12%12%
Salary reductions5%6%
Early retirement window3%6%
Reduce 401(k)/403(b) match3%7%
Reduce workweek2%6%
This article is part of a series called News & Trends.
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