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Cut my hours but don’t make me redundant
One in two employees would chose to cut their working hours over voluntary redundancy or extended unpaid leave if the choice was made mandatory by their employer, reveals a survey by specialist recruiter Hays.
In its online poll of 150 New Zealand employees, 19 percent would opt for voluntary redundancy and 29 percent for extended unpaid leave. 52 percent prefer a cut to working hours.
“A cut to working hours ensures employees still receive a regular income stream, albeit at a reduced level, and they often feel they are a valued resource since their employer is taking steps to retain their skills despite financial difficulty,” says Jason Walker, Managing Director of Hays in New Zealand.
“For employers, this strategy offers an immediate cost saving while ensuring they retain their staff, and when business activity resumes normal levels they can reinstate usual hours immediately rather than spending time recruiting skills that they previously made redundant.
“Often, this strategy can also increase staff loyalty, since employees appreciate their employer is taking this step over making redundancies.
“A cut to working hours could take the form of a nine-day fortnight, or the commencement of the working day could be pushed backwards by an hour.
“HR-related cost-cutting measures are often one of the first explored when times are tough. But it isn’t a strategy that makes a great deal of sense when skills will need to be recruited again once conditions improve.”
The survey was conducted on www.hays.net.nz and received 150 responses.
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For further information, please contact Lucy Sharp, Marketing Manager of Hays Australia and New Zealand, on +612 8226 9885 or lucy.sharp@hays.com.au
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