Employees are likely thinking of their advancement opportunities and flexible work options amid shifting economic winds.
When Tesla CEO Elon Musk ordered his employees back to the office (with a big “or else” at the end) this spring, the news went viral. It also signaled the beginning of a power shift that’s being felt across industries.
As more companies look to tighten their belts with the economic downturn, business leaders are looking at cost reductions and reevaluating pandemic-era perks and policies.
Like it or not, everyone’s going to have to adjust. The workplace we’ve grown accustomed to is transforming, with power dynamics shifting back into management’s court. Millennial and Gen Z employees facing their first economic slump are watching with trepidation—just 28% expect the economy to improve in the next year, with many admitting they only know of bad things happening during a recession. Overall, 80% of employees say they fear for their job security should a recession occur.
The truth is difficult to hear, but important to acknowledge. Too many companies forgo workforce planning until it’s too late, but there are three looming HR challenges employers can anticipate and plan for to emerge from the downturn with a stronger team.
Read the complete Fast Company article BY RYAN WONG: https://www.fastcompany.com/90780687/a-recession-may-trigger-these-3-conflicts-at-work