Whilst the recession hit companies hard, many argue that it was jobseekers who were the main victims.
University graduates, once the cream of the academic crop, are struggling to get good jobs after they finish school, with many either unemployed or turning to menial labour. Figures in the UK suggest that employers often receive hundreds of applications per graduate job - making the task of standing out from the crowd an incredibly difficult one to achieve.
Once a company had offered a job, there was little incentive for them to pay good wages or offer additional benefits. This is because recruitment has been a ‘buyers’ market over the last 6 to 8 years - putting all the power in the hands of the organisation.
Whilst it may seem hard to believe for those students who are currently unemployed, there’s a changing dynamic in the job market, one which could eventually see it become primed for sellers.
This is good news for us, not only will there be more more open positions, but once we’re in a role we’ll have enough power to demand a positive working environment, flexible working hours and good annual wage rises. In fact, the paradigm has shifted to such an extent that employees should expect to be treated as stakeholders in the company, not another column on the balance sheet.
In a 2014 Gallup survey it was identified that only 13% of all employees are ‘highly engaged’ whilst 26% are ‘actively disengaged’. In the new ‘sellers’ market these statistics will not suffice and will mean that companies who continue to mistreat their staff will lose their best people on a regular basis.
In short, the employee-work contract is changing, and changing for the better. There’s considerable pressure on organisations to make work more enjoyable in order to increase engagement levels and this is perhaps the only way that companies can guarantee that they keep their best staff and produce the products they are capable of.