In the past few years, many companies have had to
tighten their budgets in lieu of further downsizing their employee
headcount as a result of the economic recession that fell onto the US
during the last quarter of 2007. Consequently, organizational strategy
focused on lean workforces with employees often juggling multiple roles
without seeing an increase in pay or promotion in job title. Due to the
fact that most companies were not hiring during those troubled years,
workers simply put up with the burgeoning workloads in their current
jobs. Morale often suffered, but it went by the wayside as employers
struggled to keep afloat and employees realized all too well that there
were few alternatives in the job market.
As the economy has seen a rebirth of job creation in many sectors,
employers have been hiring again but also focusing on the damage of the
past few years. Many employees who were exemplary performers often did
not receive financial incentives during the recession years. These
workers may now be seeking opportunities outside of the organization,
especially if they continue to feel unappreciated, overburdened and if
they have not yet seen a significant upturn in their compensation.