An economic downturn is a big test of corporate policies that aim to keep employees loyal and motivated. With cost cuts and lay-offs hitting some sectors hard in the wake of the credit crisis, there will be plenty of employees feeling sceptical at the moment about any employer’s claim to be a great place to work.

Yet some companies manage to maintain the trust of their workforce even when economic and market conditions turn sour, says the Great Place to Work Institute, which compiles the annual Best Workplaces rankings around the world.