Firms fret about employee morale in downturn

Many local small and mid-sized companies are more concerned that the slumping economy will hurt employee morale than reduce sales and revenues.

So claims a new survey from Insight Performance Inc., a human resources consulting firm headquartered in Dedham.

The survey polled small and mid-sized New England companies in industries including financial services, high-tech, manufacturing, biotech/pharmaceutical, medical/hospital, nonprofit, and others, Insight Performance said, and one finding was that despite the down economy, many companies plan to increase salaries in 2009 and that many firms plan to award 2008 bonuses.

Small and mid-sized companies “understand the critical roles that employees play in helping them weather economic storms and drive growth," Nancy R. Mobley (right), president and chief executive of Insight Performance, said in a statement. "One of the most important lessons from past downturns is that companies need to have the right people in place to take advantage of new opportunities when the market begins to turn around.”

The photo of Mobley was taken from her company's website.
(By Chris Reidy, Globe staff)