Start-ups poised to exploit job market shake-up
Wednesday, October 27, 2010/
The head of a leading recruitment group says start-ups should take advantage of the post-GFC climate as employees start to shop around for new jobs.
According to the latest Clarius Skills Index, employees are willing to jump ship for more attractive packages.
The trend comes amid growing employment opportunities, increasing financial market activity and positive business conditions.
Kym Quick, chief operating officer of Clarius Group, says employees in advertising and financial services are particularly keen to look elsewhere for work.
“I think those two areas were so heavily impacted during the GFC that people weren’t comfortable moving. As soon as things do start to look more positive, it’s the first opportunity to jump ship,” Quick says.
“I think there’s an element of that bitter taste in the mouth and the market’s good … [so] it’s time to move to greener pastures.”
Paul Barbaro, executive general manager of Alliance Recruitment, says the current job market is spurring employers into action.
“Employers have become more active in making opportunities available to candidates,” he says.
“They are becoming increasingly flexible for the right people, and are meeting wage demands of up to 10 to 15% to secure highly skilled individuals.”
According to Barbaro, the retention of staff will be a key focus for employers over the next 12 months, with businesses expected to increase reward and recognition for existing staff, offering more non-financial incentives.
Quick says such incentives are an ideal way for small businesses and start-ups to attract and retain staff.
“Flexible hours, working from home arrangements, and really allowing employees to have a little bit more of a lifestyle,” she says.
“People are putting a lot of value on that. Some people are prepared to sacrifice a salary increase for being able to work from home two days a week… Technology now is providing a lot more scope for people to have access offsite.”
“Also, [businesses should consider offering employees] some degree of learning opportunities, so any potential opportunity to provide learning and development.”
“Some companies are now working on a profit share scenario so allowing the employees to actually be part of the success of the business… If the business does well, they do well.”