Financial Concerns Drive Innovation in the Workplace

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The results of the 2012 ERC/Smart Business Workplace Practices Survey demonstrate a commitment among Northeast Ohio employers to improving their workplaces despite and in some cases because of the financial challenges they face in today’s economy. While respondents indicate for the second year running that the economy is no longer their most pressing challenge, cost related challenges more generally such as funding, healthcare costs, controlling costs and financial stability are all among the top ten challenges reported by employers.

Perhaps the most striking fiscal measure being utilized to control costs reported by participants is layoffs. After a sharp decline in 2011, the percent of organizations anticipating layoffs for the coming year increased to 10.3%. However, it is important to note that while higher than 2011, this number still falls in line with pre-recession levels when double digit percentages were commonplace.
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