Recession raises loyalty among U.K. employees in the retail sector
The survey, conducted between early October 2009 and the end of January 2010, finds that 36 percent say the economic downturn has made them more loyal, while 6 percent say it has made them less loyal, and 57 percent say it’s made no difference.
The trend is most pronounced in London with 34 percent of respondents more loyal, compared with Scotland and the South West (29 percent), the North West (26 percent), Midlands (24 percent), the South East (23 percent), and Wales and the North East (22 percent).
Those workers who are more loyal to their employers attribute the shift to positive management, good company morale and active communication from senior executives. Those who are less loyal say it’s due to poor management and low morale.
The findings are part of the Kelly Global Workforce Index which obtained the views of approximately 134,000 people, including almost 6,000 in the U.K.
Interestingly, the impact of the economic slowdown on work attitudes has been greatest among the youngest, and usually the most carefree age group - Gen Y (aged 18-29) - where 30 percent say the downturn has made them more loyal, compared with 25 percent of Gen X (aged 30-47) and 22 percent of baby boomers (aged 48-65).
Psychologist Dr Linda Papadopoulos "There are several factors implicated in the levels of commitment and loyalty employees feel towards employer- central to this is a sense of being valued themselves. This can come in various forms, from monitory incentives to management style but ultimately if employees feel that their company has gone that extra mile, during difficult times, to ensure that they are secure and happy in their role, then that sense sense of loyalty is much more likely to be reciprocated. In addition, the fact that that many employers are seen as being ruthless when it comes to culling workforce numbers at times of crisis, working for a team that values their employees during difficult times is going to be regarded as comparatively more rare and therefore more valuable."
Major retailers to attend The Retail HR Summit 2010
Preparing for the Upturn: Maintaining competitive advantage and market share through cost effective retail HR Strategies.
Attendees are already registered from: Tesco, Clinton Cards, Arcadia, BP Oil UK, Domino's Pizza, Cath Kidston Limited, BHS, BestBuy Europe/The Carphone Warehouse Group, Blue Inc, Dell, The Co-operative Group, Cotswold Outdoor Ltd, Mills Group Ltd., DSG International PLC, Jaeger/Aquascutum, Aurum Holdings Ltd , Whitewall Galleries, Lakeland, Maplin Electronics, Marks & Spencer, Matalan, Net a Porter, New Look, Pets at Home, Peacocks, Punch Taverns, Republic, Sally Salon Services Ltd, Signet Trading Limited, The Entertainer, The White Company, Thorntons, WM. Morrison Supermarkets...
Following on from success of our last 2 Retail HR Summits this popular event returns at our new ‘retreat’ venue, The Reigate Hill Golf Club & Conference Centre on April 27th 2010.
This summit, sponsored by Torex and Retail Choice will enable Retail HR executives to benchmark their HR strategies and share ideas in a relaxed environment. The programme will enable delegates to build improved recruitment, retention, development and engagement strategies that focus on delivery of bottom line results so they will be well placed to capitalise on the economic upturn.
This interactive summit has been designed to allow a focused peer group of UK retail executives the opportunity to network and discuss best practices of Retail HR.
With regular networking opportunities throughout the day you’ll learn how to:
Attract real talent and strengthen your workforce to cater for an improving economy
Build a training, learning and development strategy that enables your business to capitalise on the upturn
Establish best practices of maximising engagement and retention during a period of substantial change
Boost employee motivation and commitment in challenging times through targeted, cost effective employee engagement strategies
Maximise market share through cost effective, flexible retention strategies
Identify and develop leaders that create competitive advantage for your company and engage your workforce
Prepare for the upswing through cost effective, tailored retail HR strategies
For more information on the event click here.
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