Employers urged to come clean with staff during credit crunch


Employers urged to come clean with staff during credit crunch
A new survey has revealed that some employees in the UK have little faith in their bosses when it comes to keeping staff informed about a company's financial situation during the credit crunch.

Therefore employers have been advised to inform their staff about any difficulties a firm may be in as quickly as possible. This means workers will see they are on top of any problems and have plans to deal with them.

A poll, conducted by Aziz Corporation for the Chartered Institute of Personnel and Development, found that 74 per cent of people thought their bosses would not properly inform them of financial difficulties, Workplace Law Network reported.

Khalid Aziz, chairman of the Aziz Corporation, said: "In the absence of full information, markets will assume the worst. Companies that refuse to come clean risk a steady and persistent drip of bad news."

Such openness is a major motivation for staff, according to ClickAJob Marketing Manager Anders Jensen.

"With relationships playing an increasing part in the way business is done, managers need to volunteer significant information instead keeping everything under wraps as usual," he says.

"The more up-front a company is with its employees, the greater confidence they will have in its prospects for the future."

Last week, onrec.com advised job seekers that having a good CV is important during the credit crunch so they will be noticed quickly by any employers looking to recruit.

Related categories: HR / Recruitment.

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