💰 Gartner research shows only 31% of employees would willingly take a temporary pay cut if it meant avoiding layoffs. GartnerHR expert Tony Guadagni warns temporary pay cuts are not ideal to weather a potential economic recession. Read more now. HR
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While temporary pay cuts may alleviate budget constraints in the short term, it’s not an ideal strategy to weather a potential economic recession. Lastly, there’s an increasing amount of pay information available to employees. Gartner research shows nearly 43% of employees discuss their pay with colleagues in the same role, while 45% of employees consult third-party pay sites at least once a year.
aren’t rooted in compensation; instead, they are rooted in organizational trust. When employees don’t trust their employers, they don’t believe their pay is fair or equitable.