| 2009 – In the eye of the storm | ||
| You - the readers of the SAM Bulletin - are almost unanimous in your opinion – more than 80 percent believe that the financial crisis peaks in this quarter or will do so in autumn this year. In other words, 2009 is set to be a very tough year indeed. However, the collective voice also signals a belief that the end of the financial crisis can be envisaged in the distance – a mood currently mirrored by media and world leaders. Web Poll results You can see the results of the web poll below. When was, or, when will we see the peak of the financial crisis? Last Autumn 0,65% 1st Quarter 2009 0,98% 2nd Quarter 2009 43% Autumn 2009 38,76% Spring 2010 12,7% Autumn 2010 1,63% 2011 or later 2,28% The big re-think In the recruitment sector, we have experienced the current crisis by clients postponing or undoing recruitment decisions, and a considerable general increase in the demand for outplacement services. Alongside everybody else, we have witnessed the mass lay-offs with a stern impact for those directly involved. However, lay-offs are not just lay-offs. They often serve as one tool in a much wider process, in which the company re-thinks their structures and reconsider their focus. Companies still recruit As a result, the job market today is much smaller than it was just a year ago. Today, it is not uncommon for generic job portals to report a drop of around 60 percent in the number of vacancies on their portal. Albeit on a smaller scale, a job market still exists but it is considerably more competitive, and it is often seen that many managers, who make the final decision concerning the recruitment, postpone decisions whilst trying to make sense of the immediate future of the company. Such uncertainty is only natural, since media and expert predictions about the future have been proven wrong time and time again during the past months. You have offered your collective opinion on the longevity of the crisis, which states that we are at the height of it, and at present, costs matter. Recruitments cost money, and therefore it is essential to get it right. Soft values are crucial in a successful recruitment process Our experience tells us that whilst people are hired on the basis of their formal qualifications, the single most significant reasons for failed recruitments are on much ‘softer’ issues, such as personality, company culture and interpersonal relationships. Methods to ensure that there is a match on the softer issues as well are numerous, and can range from various types of tests to thorough interviews, in which soft areas are covered as well. It is of course a key part in any of our headhunting processes, but despite the costs involved, it is something we strongly recommend anybody hiring new employees to include – it will pay back in the long run. | ||
| Date | 22-06-2009 | |||