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CEOs Tight-Lipped on Crisis

Lacking info, many workers fear the worst from recent economic turmoil, a survey finds.
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With CEOs tight-lipped on the issue, the growing economic crisis has many workers fearing the worst, according to a new survey by Weber Shandwick.

Of more than 500 workers polled nationwide, 70 percent said they expect their companies to be impacted by the economic slump, the New York-based PR agency found. Most said they'll have trouble meeting companywide goals, while about a quarter said they're expecting layoffs as a result.

Adding to the uncertainty, about 70 percent said CEOs aren't making a sufficient effort to discuss the issue with their employees, the survey found. More than half said company leaders had yet to address the potential impact of the financial crisis at all.

"Many companies have highlighted the need to invest in employee communications, and the questions raised by the financial crisis confirm how now, more than ever, employees need to be equipped with information from senior voices in their companies," Micho Spring, chairperson of Weber Shandwick's U.S. corporate practice, said in a statement.

By communicating with employees, company leaders can reaffirm their position of trust and ward off fears and rumors among workers, according to Weber Shandwick CEO Harris Diamond.




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