Trust & Ethics in the Workplace have been battered by the Recession.

According to Deloitte’s fourth annual Ethics & Workplace Survey, one-third (34 percent) of employed Americans plan to look for a new job when the economy gets better. Within this group of respondents, 48 percent cite loss of trust in their employer and 46 percent say lack of transparent communication from their company’s leadership are the primary reasons for pursuing new employment at the end of the recession. Additionally, a large majority (65 percent) of Fortune 1000 executives who are concerned employees will be job hunting in the coming months believe trust will be a factor in a potential increase in voluntary turnover.

“With lack of trust and transparency factoring into the employment decision of roughly half of the respondents who plan to job hunt in the coming months, business leaders must be mindful of the importance of both on talent management and retention strategies, as well as the bottom line impact,” said Sharon Allen, chairman of the board, Deloitte LLP. “By focusing on these two areas executives may be able to reduce attrition. It could also allow them to mitigate the expenses associated with the hiring and on-boarding process and ensure that tacit knowledge remains within their organizations. Establishing and reinforcing a values-based culture can ultimately help to cultivate employee trust.”

While the survey found 59 percent of employees feel more is being demanded of them because of today’s business climate, 72 percent say their employers continue to support their work-life needs and 77 percent of executives say they remain supportive of employee personal needs outside of work. Sixty percent of employees suggest that technology plays an important role in helping them meet their professional and personal demands, which is enabling them to trust their employers more.

“Executives are facing a number of challenges today and maintaining a workplace in which employees are able to thrive is certainly one of them,” Allen continued. “The survey shows that trust and flexibility are critical in today’s workplace. At Deloitte, we work to demonstrate our commitment to both through innovative work-life initiatives and frequent and transparent communications with our people.”

For more information at http://www.deloitte.com