Business leaders fear job cuts
BUSINESS leaders expect to have to make redundancies as a result of the economic downturn, according to a survey.
More than a third of business professionals interviewed for research commissioned by the Leaders in London International Leadership Summit 2008 said they believed jobs will be lost.
The poll of 1,000 business leaders found 10% thought senior management could be made redundant as a result of the credit crunch.
The gloomy economic outlook has left 51% of bosses finding it tough to keep staff motivated, with a third reluctant to employ people who have high
expectations of rewards or rapid promotion.
Around half of those polled plan to keep their staff motivated by offering flexible working hours rather than increasing their salary, with nearly a quarter having tried to pep up morale by organising work social events.
Managing director of Leaders in London Ros Oxley said: “Business leaders are increasingly finding that they’re at the sharp end of the credit crunch and need to take stock of how they run their organisations in order to get the best from their employees. In these tough financial times employers are facing a difficult challenge to keep their staff motivated, with many trying to find low cost incentives to encourage and reward productivity.”
