While some workers may feel that hunkering down in their current positions is the only choice in this economic storm, a large percentage of workers remain confident that employment prospects remain strong.
According to Talent Retriever's Q4 2008 Workforce Confidence Survey, 85 percent of those polled indicated their chances of finding a new job in this economy were "fair" or "above average". The survey also showed that 75 percent of respondents expressed confidence in the management team of their current employer to lead them through the downturn.
"This level of worker confidence despite the economic downturn is a sign that employers should not become complacent when it comes to employee retention efforts, otherwise they may risk losing their best employees," said Dave Barbato, president, Talent Retriever. "For employers looking for new talent now may be one of the best times to step up recruitment activity."
Workers show two minds -- confidence with jitters
When asked if they were likely to stay in a job they were dissatisfied with due to current economic conditions, workers surveyed replied as follows:
* 44 percent said they were more likely to stay in a job in which they are dissatisfied
* 35 percent said they were somewhat likely to stay
* 15 percent said they were less likely to stay
* 6 percent said they would definitely not stay in a job in which they were dissatisfied even under current economic conditions
Talent Retriever also polled workers about their motivation for seeking new employment. When asked if under current economic conditions they were more likely to take a job for stability or for career advancement, workers revealed the following:
* 57 percent said that they would be more likely to take a job for stability
* 43 percent selected career advancement as the most important factor for them in deciding to take a job under current economic conditions
"Workers' conflicting responses wavering between confidence and concerns about job prospects reveal opportunities for employers," said Barbato. "Employers seeking workers need to demonstrate that they have the financial stability and management team to weather the economic storm. For staff retention, employers should consider creative ways of offering low cost perks, incentives or even a modest holiday office party to show that you value your employees and that your firm is in a strong position for growth when the economy recovers."
Responses for the Q4 2008 Workforce Confidence Survey were gathered through an online survey of professionals representing diverse industries across the United States.
For additional information about Talent Retriever, a recruitment consulting firm, and the Q4 2008 Workforce Confidence Survey, please visit http://www.talentretriever.com/.