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Job Market Recession During Financial Crisis Means Hard Times For British Workers

By: Chelsea Michaels

It looks as if forecasts made just before the end of 2007 have been correct, the existing state of the British economy has many member of the populace feeling the financial burden. ‘The consequences of not handling your money properly can be devastating’ according to a member of the Financial Services Authority although this is not news for most of us, what has changed is the merciful nature of the loan companies and banks who would always give assistance to those in this tough position of being behind with the bills.

The combining factors of increased utility bills, food and fuel prices have left the common employee less disposable income than this time last year despite any increases in earnings, so what is there to do? The expectation of different and potentially higher paid employment can become critical to the average employee, although the recruitment market itself is also becoming increasingly condensed. The CIPD had approximated the amount of people to lose their jobs as 150,000. John Philpott, the chief economist, stated that 2008 would be ‘easily the worst since the Labour Government came to power in 1997’.

This recession in employment combining with the increased need for enhanced wages will be enhancing pressure on the labour market and people will need to have a modern approach to finding their required job or candidate. The way people seek out their employees and employers has changed significantly over the last decade. More internet savvy employers are used to using recruitment agencies and employees are using websites that are advertising jobs. Employees don’t have the time to fill in loads of forms and so post their CV on the world wide web in the hope that an employer or agent can find the job for them.

The usage of an agency could be quite pricey one, with a high number of recruitment agencies charging up to 10% of the candidates annual wages upon successful placing of a candidate. If the opening is a temporary one they expect to be paid notably more, it might even double the wage. The employee receives only half of what the employment agency does. There are unquestionable benefits to using a employment agency though, the period with the vacant position is shorter which enables companies to continue normally and lower chance of customer frustration.

Due to escalating inflation, businesses will feel the pressure, leaving them under the increasing pressure of of growing utility bills. The loss of normal working conditions can cause dissatisfaction amoungst employees and this leaves managment with the lenghty process of interviews and applications, but without the fiancial resources to advertise positions or pay agent fees forms, the business can suffer.

A proposal is to look around for a employment agency that might specialise within your businesses specific area. Try and get in writing the fees they would be billing you for a contracted appointment of a candidate. Guarentee your fee is not expected if the candidate should seek other employment, after all they might get a better offer! The company searching for employees has the advantage of a large recruitment market though, with numerous recruitment agencies searching for you, finding one that is negotiable on the price (percentage of salary or even a fixed price) for finding your ideal candidate would be sensible.

Article Source: Main Articles

Chelsea Butterworth is a freelance scribe, writing occasional pieces on fixed fee recruitment on behalf of Recruitment Revolution.

This article may be reproduced wholly or in part without written permission provided the byline, resource area, and any hyperlinks remain in order to give proper credit to the author.

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