Is the recession over? It may be too early to say, but there are some signs of recovery. Unfortunately employment isn’t one of those things. Employment recovery lags since employers don’t want to add headcount prematurely. But even in this atmosphere there are some interesting trends that everyone should pay attention to. An annual study from Robert Half International and CareerBuilder.com found that:
- Over half of employers polled planned to hire full-time employees in the next year. About 4 in 10 will hire contract workers, project workers, or part-time employees.
- 4 in 10 employers expect the American Recovery and Reinvestment Act to create jobs for their organizations over the next couple of years.
- 6 in 10 employers are willing to negotiate with qualified candidates for higher compensation.
The last finding is perhaps the most surprising, since you’d expect employers to be less willing to negotiate with an abundant labor pool. The problem with the abundant labor pool is that there is still a shortage of skilled workers. Employers who participated in the study reported that over 40 percent of the resumes they receive are from unqualified candidates.
This is good news for qualified candidates and a mixed bag for employers. Employers who take care of their employees, provide fair compensation, and adequate opportunities for development will differentiate themselves from those who don’t. There’s also a warning shot for organizations that are cutting benefits and piling on the work with the attitude that employees “should be happy to have a job.”
- More than half of polled employees plan to make a career change or go back to school when the economy improves.
- A Monster.com poll found that 89 percent of employees would consider switching jobs.
The current labor market may lull managers into thinking that their actions don’t matter since immediate impact isn’t felt in turnover and retention numbers. But employees will remember how they were treated during this tough time and actions now will either ignite the desire to leave or retain talent. And guess who will hit the door first? That’s right. It’s the high performers.
The Golden Rule still applies. Treat others fairly and with respect. And for employers there is also a Golden Rule of Training. Give employees opportunities to grow and they’ll perform better and stick around longer. That same study showed that 20 percent of employees hoped for better benefits as a retention tool. At the top of the wishlist? Tuition reimbursement or subsidized training.
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