One-Third of Employees Say Economy Has Shrunk Paycheck
July 27, 2009 by Dasha Black
Filed under Business
More than one-third of U.S. employees report they have not received a raise this year or that their compensation has decreased, according to a Tell It Now(SM) poll by ComPsych Corporation.
“We continue to see increased call volume from employees who need help managing their finances in this challenging environment,” said Dr. Richard A. Chaifetz, Chairman and CEO of ComPsych. “Our customers, realizing the need for supporting and educating employees with financial information, have been promoting the EAP as a place to turn for help as well as scheduling personal finance seminars for their workforce.”
Employees were asked: Has the economic downturn impacted your work? If so, in which area have you experienced the greatest impact?
39 percent said they haven’t received a raise or their compensation has decreased
20 percent said there is more conflict/stress among coworkers
11 percent said they are doing more work due to employees that were laid off
10 percent said they are working more hours/unable to take as much vacation
20 percent said it has not impacted their work.
ComPsych is a provider of employee assistance programs and worldwide leader in GuidanceResources (EAPs, behavioral health, wellness, work-life and crisis intervention services).
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