Recession Aftermath

I recently was interviewed for an article in Smart Business magazine on the changes facing business leaders as we begin the process of recovery and renewal post recession. The link to the article can be found at http://www.rickbeal.net/NCA_Watson_0809final.pdf. Key touch points include increased transparency, enhanced articulation of the employee value proposition and heightened emphasis on risk mitigation.

It's also worth noting that the most recent data I have seen continues to indicate that pay programs will return to a new normal with a healthy incentive component associated with downside protections and risk mitigation. Don't however count on rollbacks of the recent cost shifting in benefits programs. The trend is here to stay.

Finally while the aftermath of employment actions will be felt for years to come, employers are cutting back on their recession-oriented communications. The best advise is to continue with enhanced communications regarding business performance and the link to the employment deal rather than dropping the level of communication. Watson Wyatt's forthcoming 2009/2010 Communications ROI study highlights this trend.