The Employment-at-will Question

The Evolving Employment Culture
In the recent past, employees of large, stable firms and workers with valuable skills had reason to believe their jobs were secure as long as they adhered to company policies and performed satisfactorily. Many retired from their positions with sizable pensions accrued over many years with an employer. As surely as 401(k) plans have replaced company pensions, longevity has been traded for high turnover by both firms determined to stay competitive and workers seeking greater opportunity. However, when the economy weakens, workers become less willing to job-hop; security is much more important than new challenges. Businesses often react to a downturn by trimming nonessential people from the payroll – employee cost is often the largest controllable company expense and the first place budget cuts are made. Companies that claim “our people are our greatest asset” can save substantially by reducing their “greatest asset” and splitting up the workload...