Employers adopt 'sophisticated' methods to cope with recession

Employers need to adopt a more sophisticated approach to staff retention and development if they are to weather the current financial storm effectively, according to a new survey.

A recent poll conducted among 550 senior HR managers in 17 countries by HR consultancy The Scala Group and the ACE Network found that only 25 percent believed that enhancing employees’ pay and benefits was the answer to both surviving the recession and preparing the business for any upturn.

Instead 65 percent placed a much higher importance on increasing communication with staff. A further 63 percent felt that developing employees’ skills was key, while 51 percent indicated that engaging personnel effectively was crucial.