Credit crunch and productivity
Credit crunch and productivity
Within the working class citizens we come across an issue that has many employers wondering. What effect will the credit crunch have on productivity? This is a question that can be answered in two totally different ways. Either the employees will work harder than ever in an effort to keep the business that they are working at afloat, or they will become frustrated due to the stressful times and become some of the victims of stress related illnesses. Many people have a very difficult time dealing with stressful situations and end up having health issues as a direct result of the stress that they are under. High blood pressure, anxiety, and many other health conditions can all be cause by the effects of stress on the body. Employers are the ones that have to try to keep the employees that they have feeling a sense of security during the difficult economic times that we are enduring. This can result in the employees missing more sick days and having to take more time off as they need to seek medical attention. On the other hand there are employees that will work many, many hours in an effort to increase the productivity of the employer’s company. This is all done in hopes that the business will remain competitive in the market during this time when the economy is in dire straits. Employees think that if they can keep the production levels up that it may help them stay more secure in their jobs. This is of great importance at a time when the job losses around us are at one of the highest levels that they have been in a very long time. Employers are also finding that they can utilize the employees they already have and train them in other areas as opposed to having to hire new employees. This is another area that productivity is increased by the credit crunch. The employees that are already there have the basic knowledge of the company, where an outsider that is just hired has no idea as to what the business is about. This proves to be a huge way for employers to be able to save money as well as time. The employees that are already there generally need less training which is a huge thing when it comes to the dollars that companies can end up saving. The credit crunch and productivity go hand in hand. They in some ways motivate employees to work harder, and on the other side give the employers the opportunity to be able to see what other areas that the employees that they have would excel in. It is not necessarily the best way to have productivity increase, but it is a something that does happen.
