management

recession undermines trust and ethics in the workplace

are you ready for massive staff turnover?

during challenging economic times, the relationship between employees and employers often is tested.

frequently, leaders are forced to make decisions that broadly affect their workforces and alter what matters in the workplace.

today’s business environment is no exception: according to deloitte’s fourth annual ethics & workplace survey, it appears that the recession has diminished two important forms of business currency — trust and ethics.

highlights of the 2010 survey, conducted among 300 fortune 1000 executives (vp or higher) and 754 full- or part-time employed u.s. adults ages 18 and older, include:

  • one-third of employed americans plan to look for a new job when the economy gets better.
  • of this group of respondents, 48 percent cite a loss of trust in their employer, and 46 percent say that a lack of transparent communication from their company’s leadership are their reasons for looking for new employment at the end of the recession.
  • additionally, 65 percent of fortune 1000 executives who are concerned employees will be job hunting in the coming months believe trust will be a factor in a potential increase in voluntary turnover.

free download: click here to get the report (pdf, 24 pages)

3 responses to “recession undermines trust and ethics in the workplace”

  1. mentioned on twitter by tom hood, bill sheridan, ohio society of cpas, macpa, macpa summit and others. http://ow.ly/2obtl

    mentioned on twitter by tom hood, bill sheridan, ohio society of cpas, macpa, macpa summit and others. http://ow.ly/2obtl

  2. leigh mutert

    some good analysis may come as a result of the corporate layoffs during the recession. if the cost of turnover on the scale deloitte is predicting can be quantified, companies could have a metric against which to evaluate cost savings of a reduction in force. it might serve to prevent short-term thinking in future downturns.

  3. george wright

    great article! but what you don’t mention is what it means for auditors. actually, i think the implications are obvious. our risk assessments just got a little tougher and our liability premiums could be affected. can’t you provide good news for a change?