The need to invest in incentives and recognition - and perhaps team building conferences - has been outlined by a new study by Duke University and the CFO Magazine Global Business Outlook Survey.
Chief financial officers (CFOs) are struggling to come to terms with the recession, with European and US organisations planning to reduce their workforces in the next few months.
Top concerns registered by CFOs in the survey about their own businesses included the maintenance of profit margins, difficulty in planning procedures due to uncertainty surrounding the economy and, perhaps most important of all, employee morale.
Kate O'Sullivan, the senior editor at CFO Magazine, said of the results: "The economy has begun to show signs of life, but improvement in corporate performance appears to be coming on the backs of the employees.
"During the recession, in addition to layoffs, companies cut numerous employee programs and benefits and few companies plan to restore these programs in the coming year."
Earlier this month, Dave Conrad of the Post-Bulletin asserted that appraisals must be used to improve communication in the workplace.
Posted by David Farrior
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