It has been the silver lining of this downturn. After spending years with heart in mouth, hoping key employees didn’t leave, we have been through at least 18 months knowing that our best people were too scared to do so. Competitors are laying staff off – not hiring. And employees figured in this environment it’s “better the devil you know”.
But the employee market is shifting and we are already seeing the signs.
Sydney-based recruitment expert Simon Boulton, from Aequalis Consulting, warns employers that their staff may be disgruntled. “In July we’ve noticed a 60% increase in employer vacancies when compared to May. He says at the same time the number of candidates seeking work through Aequalis has been consistent – but it’s people in jobs seeking jobs.
“Six months ago, employees were too cautious to move,” he says.
So while employers in 2009 have been focussed on downsizing staff, some employees have got fed up with the plunging morale, salary freezes and insecurity of their workplace.
Now, there are always surveys by recruitment companies that appear showing that job seekers are disgruntled – as you would expect as they are looking for a new job.
But an Aequalis survey of 280 job-seekers shows 78% are thinking about moving at the first signs of an economic recovery.
As the recovery gains momentum, your competitors will find that they need to rebuild and import new skills. They will come after your key people. And if your key people are disgruntled they will sniff out the opportunities. Companies that have not managed morale and frozen salaries will be the first casualties.
Remember the early 1990s? Remember how disgruntled employees were coming out of that? Employers complained it was a nightmare as they had to work overtime to make employees happy because they felt they had worked long hours, under stressful conditions for no increase in pay.
Boulton says that January may be the trigger point because that traditionally is a time when people seek change and the recruitment market is at its height in the first half of the year.
That means you have the next four months to do some major work on making staff feel appreciated and part of the future plans for the business.
What’s the bet we see an increase in spending on Christmas parties this year?
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