The Economy, Changing Workplace and Mobility
The seasonally adjusted unemployment rate of 9.4 percent is now at a 25-year high. Economic reports earlier this month on pending home sales and manufacturing seemed optimistic, but figures later released indicate the economy remains slow-moving. After the housing bubble led to a financial crisis, the current recession began. Economists say recoveries after such a crisis tend to be slower, as credit remains tight even after growth returns.
Employees concerned about this news and their jobs have to be prepared. The better prepared they are, the better position they will be in to find security in this changing workplace. One way employees can be prepared is to remain flexible and mobile.
\Flexibility and mobility are both assets in this changing workplace. Being able to move to locations rich in suitable employment is always a real plus to a career. Experienced workers tend to be in a position to negotiate a transfer to another division or site within their company when the company is making job cuts. Less experienced workers, who are willing to relocate, are attractive to a competitive company and seen as more “affordable”.
Unfortunately, employees have fears about job security and devalued homes. It may be too much risk for employees to consider relocation, as they have exhibited more reluctance to taking any risk in this economy. Some employers have been just aS unwilling to take the risk and bearing the cost of hiring a new employee from a new location.
Despite the current economy, anticipation of hotter competition will drive the need for the best talent. Companies are still looking for ways to attract the best talent, which will likely require offering candidates relocation assistance. Employees open to a new opportunity may find one that offers more security than their current role.
The huge job losses aren’t likely to lend support to the housing market or to an economy that has been overwhelmingly driven by consumer spending in recent years. However, many economists believe the worst is behind us and are optimistic the economy will improve in the long-term. In the interim, employees can increase their degree of preparedness through flexibility and willingness to relocate.
Posted on 06/11/2009 in Relocation Policy | Comments (0)
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