Tom Sweeney

It's a coming of age tale….

I survived the ‘economic crisis’: now what…

Posted by sweens on September 9, 2009


Reading some of the statistics from the survey I published in my last blog, I am wondering how employees who have managed to avoid layoffs during the economic crisis will react once everything starts to turn around?

 The survey had some interesting points to consider, especially where it discussed how fifty percent of all employees who were surveyed, plan on making a career change or going back to school once the economy recovers.  How will an organization handle such a high turn around of employees?

 The survey suggested that initially, most employers will offer higher compensation to keep their current employees.  Alternatively, as each company begins to grow again, most employers feel that they will promote internal staff rather then going to the labour market to fill new management positions.  This opens some good opportunities for those who have managed to survive these difficult times thus far.

 But is it enough?  Are higher wages and the prospect of a promotion, going to keep employees where they are?

 I do not know, but it certainly is a start.  Many recruiters read this and think, boy oh boy there is a real opportunity for me coming.  All of those people are going to change jobs and internal HR departments are not going to be able to keep up with the demand of the hiring managers.  This is likely true, but it will come in waves.

 Recruiters like me, who place IT professionals and have a large presence in staffing R&D or production type of positions, will likely be the last to hit this new wave of recruiting business.  Employers typically feel that their customer support, sales and marketing roles are the first to grow and once the business is big enough to support it, they will hire new back end people to develop new products and modify the old ones.

 I would be interested in the intentions of many local candidates once the economy comes back around.  Any movers…??

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