Forty-two per cent of employees who started a new job in 2009 took a pay cut compared with just 28 per cent in 2008, recent research has revealed.
The data, released by Right Management, revealed that the downturn has had a significant impact on employees’ salary expectations when changing jobs.
“After several years of upward pressure on salaries and workers being fairly choosy about their jobs, many people have come back to earth with a thud. Now they are saying: ‘It’s a job, I’ll take it’,” said Tim Roche, practice leader of career management at Right Management.
The survey of more than 500 people also found a shift in how people find jobs, with more relying on networking as opposed to recruitment agencies. The number of people who successfully found a job through networking jumped from 22 per cent in 2008 to 39 per cent in 2009; at the same time, the number of people who found a job using a recruitment agency or search firm fell from one in three in 2008 to one in eight in 2009 (30 per cent vs 12 per cent). The number of candidates who successfully found a job through job ads in 2009 fell 2 per cent to 21 per cent.
“Many people find the idea of networking daunting, but it doesn’t mean asking everyone you know for a job. Approach people for information, not job offers: what’s happening in their industry? How did they find their role? Which are the best companies to work for? Then ask for an introduction to one other person they know, and repeat the process. It’s more subtle, but it works,” said Roche.