Many corporations could no longer a

Many corporations could no longer afford the monetary compensation they were handing out a decade earlier. Managing the remaining workforce after layoffs is vital, which could be done through these benefits along with the traditional programs such as insurance and retirement plans (Hofäcker, 2013). When the struggling economy turns around, the remaining employees would be responsible for bringing their respective companies back to their original benchmark, and back to a competitive force.

Pressures from an increasingly competitive work environment are leading to conflicting priorities for employers and governments creating considerable stresses for employees trying to juggle work with family responsibilities. Also, sometimes financial strains have led to cuts in existing policies or postponement and cancellations to previously announced changes by the employers which could further lead to resentment in the employees. Heightened work-load and worries about job security could lead to stress and health problems (Lewis, 2014).