Masters Of The Universe Settle For Ruling Today's Cubicles

Studying the effects of the Great Recession on the mindset of workers around the world, consultants Towers Watson finds people are tempering their expectations of job security, pay and benefits, and mobility.

Photo courtesy the Victoria & Albert Museum of Childhood and Mattel Brands

Employees that in the past have been restless about their jobs are standing pat:

"For many employers, the recession has put the final nail in the coffin of the traditional 'deal' that once existed between employees and employers," said Max Caldwell, a leader of the Towers Watson's Talent & Rewards business, in a press release. "Not only have people seen many coworkers, friends and family members laid off, but they know they are increasingly on their own for everything from health care, to managing their career, to planning for a secure retirement."

The survey found that many people see large gaps between their current situations and self-actualization:

But people also realize there's not much to be done about it:

• 84 percent believe that jobs will not become more plentiful in the next 12 months
• 43 percent say their opportunities for advancement are constrained by recent streamlining of their organizations, and 51 percent see no clear path for advancement
• 44 percent believe they would have to move to a new employer to get a promotion, but an equal number have no plans to leave
• The mean expected retirement age is 67 years, and over a third of those surveyed said they would likely work longer than they wanted to.

That's both good news and bad news for employers, Towers Watson observes:

The results also confirm just how far we've moved from the "free agent nation" concept hyped as a new approach to work just a decade ago. A startling eight out of 10 respondents want to settle into a job, with roughly half saying they want to work for a single company their entire career and the rest wanting to work for no more than two to three companies.

"Where once employers fretted over a 'war for talent,' they must now plan for a workforce that appears ready to settle in for years -- perhaps even decades," said Laura Sejen, a leader of the company's Talent & Rewards business.

If that trend plays out, it complicates any plans employers have for upgrading their current talent rosters.

But the shock of the Great Recession may benefit employers in the short term, as workers are cleaning up their acts around the office, says a separate survey from CareerBuilder.com.

According to a CareerBuilder press release cited by PLANSPONSOR.com, the authoritative source on retirement and other employee benefits,

Sixteen percent of workers said they arrive late to work at least once a week, down from 20% in last year's survey. Eight percent said they are late at least twice a week, down from 12% last year.

CareerBuilder attributes the decline in tardy workers to the tighter job market. "Some workers may be more concerned with the nuances of their on-the-job performance these days, resulting in fewer late arrivals," said Rosemary Haefner, vice president of human resources for CareerBuilder.

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