Friday, December 19, 2008


IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations
-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor
---------------------- Stuart Basefsky
New York, NY 10016
-------------------------------Director, IWS News Bureau

Watson Wyatt

Communicating With Employees During the Current Financial Crisis [19 December 2008]
[full-text, 8 pages]

Press Release 19 December 2008
Most Companies Step Up Communication to Ease Workers' Recession-Related Stress

WASHINGTON, D.C., Dec. 19, 2008 — U.S. employers are stepping up their communication to workers about financial performance and solvency to help alleviate growing levels of stress and anxiety caused by the recession, according to a new survey by Watson Wyatt, a leading global consulting firm.

Overall, findings show that 77 percent of respondents have already sent out or are planning communication on the impact of the financial crisis. More than two-thirds (69 percent) of these employers cited easing employee anxiety as one of the top two goals of their crisis-related internal communication, while nearly one-third (32 percent) cited earning employees' trust. Watson Wyatt's survey, "Communicating to Employees During the Current Financial Crisis," was conducted in December 2008 and includes responses from 92 employers.

According to employers, job security and company performance and solvency are at the top of employees' concerns. While eight in 10 (80 percent) employers who are communicating about the financial crisis noted they have already sent messages to employees about company performance and solvency, only 38 percent have communicated about job security.

"Employers clearly understand the impact the financial crisis is having, not only on their business but on their employees as well," said Kathryn Yates, global director of communication consulting at Watson Wyatt. "With no end to the recession in sight, communicating regularly with employees will be critical for companies to keep their workers engaged and productive." 



This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
Telephone: (607) 255-2703                
Fax: (607) 255-9641                       

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