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FDIC releases first national survey of banks' efforts to serve the unbanked and underbanked

National Mortgage Professional
Feb 05, 2009

Report says: Four in five employees in northeast worried about the economyMortgagePress.comsurvey, statistics, economy, Right Management Eighty percent of employees in the Northeast region of the United States are worried about the state of the economy, according to a nationwide survey of 501 employed Americans conducted by Right Management. While 15 percent of respondents are distracted at work as a result of their worry, the majority (85 percent) say they don't feel that their concern is impacting their job performance. Are you worried about the state of the economy? • Very worried: 37 percent in the Northeast/35 percent nationally • Somewhat worried: 43 percent in the Northeast/45 percent nationally • Not too worried: 15 percent in the Northeast/11 percent nationally • Not at all worried: 5 percent in the Northeast/9 percent nationally Have your concerns impacted your job performance? • No, I am not distracted at work and can focus on getting the job done: 85 percent in the Northeast/84 percent nationally • Yes, I am sometimes distracted at work, but am doing the best I can: 13 percent in the Northeast/14 percent nationally • Yes, I am often distracted at work and find it difficult to do my job well: 2 percent in the Northeast/2 percent nationally The findings highlight the challenge for people employed in the Northeast to remain optimistic during the economic recession, said Bruce Maxfield, market vice president, Massachusetts for Right Management. "While worried about the economy, most people say that the daily 'doom and gloom' reports are not distracting their performance at work. With job losses continuing to mount daily, unemployment reaching new heights and organizations struggling to meet profitability goals, employees are working hard to stay focused on getting the job done." Among the survey's other national findings: • Women are slightly more worried than men, with 82 percent of women reporting that they are Very/Somewhat Worried compared to 79 percent of men. • The older a person's age the more worried they are. Forty-two percent of people aged 45 to 65-plus are Very Worried, compared to only 26 percent of people aged 35 to 44 years. • The higher educated an individual, the more worried, with 88 percent of people holding post graduate studies being Very/Somewhat Worried compared to 77 percent of people with high school education levels or less. Maxfield cautions leaders to not lose sight of long-term goals and find ways to keep employees engaged and committed to the organization through the economic downturn. "It's important to recognize and reward high-performing employees for their resilience, hard work and loyalty during this period. Look for innovative solutions to invest in your people and demonstrate your commitment to them. Failure to do so may result in higher turnover once the economy rebounds and opportunities open up. The degree of workforce productivity and engagement will differentiate successful organizations from those that flounder." The telephone survey of 501 employed Americans was conducted for Right Management between March 12-15, 2009 by International Communications Research, Media, Pa. Of the sample, 107 respondents were from the Northeast region. Percentages are based on total respondents currently employed full-time or part-time. For more information, visit
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