As uncertainties about the future increase, employers have started looking at ways to reduce costs. According to a new survey:
- Four in 10 companies have implemented hiring freezes or plans to reduce hiring.
- 28% will or might do the same at some point in the near future.
- One in five employers have eliminated or reduced hiring of seasonal workers.
- One in 10 say they have reduced or delayed salary increases or frozen salaries.
- 22% are planning either salary reductions or freezes for the future.
The news isn’t all gloom and doom. For example, one in six employers is providing subsidies to help workers manage the cost of working remotely (e.g., childcare and WiFi).