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CNN Live At Daybreak
Survey: Workers Resilient Despite Economic Downturn
Aired May 29, 2003 - 06:15 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now for some business buzz. With the economy limping along, how are the nation's employees holding up?
To find out, we go to New York and Susan Lisovicz. And some aren't holding up very well, are they?
SUSAN LISOVICZ, CNN FINANCIAL NEWS: Yes, but, you know, it was surprising, given the conditions, Carol, according to this new survey that the American employee is very resilient, that employees have a strong work ethic and are committed to the success of their companies -- that, according to a survey by the consulting firms, Towers Perrin.
Seventy-eight percent say they are willing to put in extra time and effort, 77 percent say they really care about the future of their company, 70 percent say they are proud to work for their employer. Carol, the firm's managing director says that he was actually surprised by the results of this survey in light of the economic situation.
However, you know, Carol, I have to tell you, there was some dissatisfaction in this survey as well, especially tied to salary and bonuses that are linked to individual performance and help with employees balancing their work and their personal life.
COSTELLO: Gotcha. I thought you were going to take a whole other road on that one, but...
LISOVICZ: Well, it sort of covered the gamut, right? It was like salaries, as well as your personal life, and...
COSTELLO: We like that all in a little capsulated form.
LISOVICZ: Well, and there was also benefits, too, if that's where you were going.
COSTELLO: Absolutely. A quick look at the futures before you go.
LISOVICZ: Flat to slightly higher. Of course, we're coming off a nice win streak. Yesterday both the Dow and the Nasdaq tried to build on Tuesday's rally, struggling to hold on to the gains, but in the end both indices finished slightly higher, investors mostly shrugging off a bigger-than-expected drop in durable goods orders.
Today, we get a second reading of the broadest measure of the economy, the gross domestic product. It's expected to show growth of 1.9 percent, up from the first reading of 1.6 percent. And the Dow is on a win streak, five straight rallies.
COSTELLO: Wow!
LISOVICZ: Yes, pretty nice.
COSTELLO: Well, that's good to hear, yes. See, I don't pay so much attention, but I should start paying attention again.
LISOVICZ: Well, you know, it's not as painful as it has been, let me put it that way.
COSTELLO: Exactly. Susan Lisovicz, many thanks. We'll get back to you in the next half-hour.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired May 29, 2003 - 06:15 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now for some business buzz. With the economy limping along, how are the nation's employees holding up?
To find out, we go to New York and Susan Lisovicz. And some aren't holding up very well, are they?
SUSAN LISOVICZ, CNN FINANCIAL NEWS: Yes, but, you know, it was surprising, given the conditions, Carol, according to this new survey that the American employee is very resilient, that employees have a strong work ethic and are committed to the success of their companies -- that, according to a survey by the consulting firms, Towers Perrin.
Seventy-eight percent say they are willing to put in extra time and effort, 77 percent say they really care about the future of their company, 70 percent say they are proud to work for their employer. Carol, the firm's managing director says that he was actually surprised by the results of this survey in light of the economic situation.
However, you know, Carol, I have to tell you, there was some dissatisfaction in this survey as well, especially tied to salary and bonuses that are linked to individual performance and help with employees balancing their work and their personal life.
COSTELLO: Gotcha. I thought you were going to take a whole other road on that one, but...
LISOVICZ: Well, it sort of covered the gamut, right? It was like salaries, as well as your personal life, and...
COSTELLO: We like that all in a little capsulated form.
LISOVICZ: Well, and there was also benefits, too, if that's where you were going.
COSTELLO: Absolutely. A quick look at the futures before you go.
LISOVICZ: Flat to slightly higher. Of course, we're coming off a nice win streak. Yesterday both the Dow and the Nasdaq tried to build on Tuesday's rally, struggling to hold on to the gains, but in the end both indices finished slightly higher, investors mostly shrugging off a bigger-than-expected drop in durable goods orders.
Today, we get a second reading of the broadest measure of the economy, the gross domestic product. It's expected to show growth of 1.9 percent, up from the first reading of 1.6 percent. And the Dow is on a win streak, five straight rallies.
COSTELLO: Wow!
LISOVICZ: Yes, pretty nice.
COSTELLO: Well, that's good to hear, yes. See, I don't pay so much attention, but I should start paying attention again.
LISOVICZ: Well, you know, it's not as painful as it has been, let me put it that way.
COSTELLO: Exactly. Susan Lisovicz, many thanks. We'll get back to you in the next half-hour.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
