Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
It’s rare that you hear the words “blessing” and “recession” in one sentence, but in a pitch for a study by the Hay Group, that’s apparently what senior VP Tom McMullen thinks some organizations could see who think “strategically” and “creatively” as they head into a downturn. I’m not sure quite what that means, but the purposes of the pitch—a new study by the Hay Group on what employers are planning as they fret over the economy—offers some sobering statistics:
—33% of the respondents said they were planning to freeze or were considering freezing salaries
—More than 20% of organizations will be freezing staff levels or decreasing staff levels
—And 15% are freezing salaries for all employees
Looks like a chilly spring, folks. Button up.
How can you manage smarter? Bloomberg Businessweek contributors synthesize insights from the brightest business thinkers, critique the latest management trends, and comment on leaders in the news.