A recent SEEK survey of more than 10,000 Australian employees found that 67 per cent are concerned about their current job or career in light of the global economic slowdown. Furthermore, 59 per cent are feeling less secure in their job now compared to 12 months ago, while 71 per cent of people think that it will take them longer to find a job now compared to 12 months ago. “Given the uncertainty in the global and local economy at present, it’s not surprising to see that jobseekers are starting to question what the implications will be for their individual employment situation,” said Paul Bassat, joint CEO of SEEK, which conducted the survey.
Australian organisations must identify and secure “resilient” graduates to ensure their businesses continue to perform during the current economic downturn, according to SHL. The comment comes as the global credit crunch continues to tighten its grip on the Australian economy, with recent economic forecasts pointing to a downturn in job expectations. “The current financial turmoil is tightening budgets and shrinking job opportunities,” said Eric Wilson, SHL director of professional services, Australia and New Zealand. “The 2009 graduate recruitment season will likely see less program places on offer and a dramatic increase in competition for the top 5 per cent of graduates.”
Employees not convinced about reward and recognition
Many organisations are missing an opportunity to sustain employee performance and create a better culture, according to a study of more than 14,000 employees, conducted by Insync Surveys. Many organisations aren’t taking basic steps to create a happier and more productive workforce, said Nicholas Barnett, Insync Surveys chairman, with up to 78 per cent of employees disagreeing or indifferent about there being effective programs for recognising and rewarding achievements of people in their workplace. “These results are disappointing, as effective yet simple programs for recognising and rewarding staff achievements can be developed and implemented for significant organisational benefits,” he said.