Via Business Week
How companies can deploy managers to fight waning employee productivity
By The Staff of the Corporate Executive Board
The magnitude of the economic downturn for mid-sized organizations has been significant. Profits are down, workforces are shrinking, and employee engagement levels are tanking. According to new research by the Corporate Executive Board (CEB), there has been a substantial decline in employee engagement, resulting in as much as a 5% reduction in employee productivity.
In a survey of more than 140 organizations, the HR Leadership Council, a CEB program for HR professionals at mid-sized organizations, found that mid-sized companies are undertaking typical cost-cutting measures. However, while most organizations might concur that lay-offs, hiring freezes, and reduction in compensation are the right ways to manage costs in a down economy, they may also be underutilizing the very thing that can successfully combat the waning productivity and disengagement that typically accompanies the state of “survivor syndrome” among remaining employees: the actions and influence of managers.
Maximize Manager Impact While in Cost-Cutting Mode:
#1: Communicate compensation changes through managers, not HR
#2: Task managers with spearheading low-cost reward and recognition programs
#3: Don’t hold on to dead wood—trade up on talent
#4: Fight declining productivity with performance management compliance
The Corporate Executive Board (EXBD) drives faster, more effective decision-making among the world’s leading executives and business professionals. Powered by a member network that spans over 50 countries and represents more than 80% of the world’s Fortune 500 companies, the Corporate Executive Board offers the unique research insights along with an integrated suite of members-only tools and resources that enable the world’s most successful organizations to deliver superior business outcomes.