Posts Tagged 'market recovery'

What Are You Doing To Keep Your Staff?

We’re coming out the other side of a recession but the 1st question I like to ask every employer is what are you doing to keep your staff?

During the recession the Oracle job market turned from a candidate driven market to a job led market, this gave the employer power and inadvertently  a lot of employers took their eye of the ball in an effort to reduce costs and stay competitive they handed out redundancies, froze pay, withdrew bonuses, increased hours, took away benefits which has now left a feeling of discontent among employees who have not forgotten what has happened in the past 18 months and now have their eye on the job market.

37% of IT professionals have admitted that once the recession is over they will be seeking a move, so what are current employers doing to make sure that when the recession is over that they will be able to keep hold of their staff?

Key employee retention is critical to the long term health and success of every business. Organisations know that by retaining their best employees ensures customer satisfaction, increased sales, increased morale, knowledge retention and effective succession planning. However why do employers historically put attracting new staff ahead of retaining their best staff?

By retaining your employees you cut costs via less time invested in training new staff, save money in recruitment costs in attracting replacements and save money via unquantifiable costs such as the knowledge gap left behind and the low morale left when close colleagues leave an organisation.

Also if your company has a reputation that they do not look after their best staff, word will spread quickly in the market place which will make finding a replacement altogether more difficult.

I have personally recruited for companies who have had a bad reputation of not looking after their staff or being (un)professionally rigid when dealing with employee issues that arise. The result is people talk and the word spreads to the point where everyone has heard a story about that company’s culture and then potential employees are no longer interested in working for them. To tell you recruiting for companies like them are a nightmare and to be honest why would I want to offer a candidate an opportunity in a company I know treats their staff poorly?

Top 3 Reasons why Employees leave

  1. 53% seek a better salary and benefits package (Money)
  2. 35% are unsatisfied with the opportunities for Career Progression
  3. 32% are seeking a new experience (Challenge)

So are you going to do to keep them?

Companies have to think long-term when it comes to retaining their employers and this has to be embedded in their organisational culture.

Employer Brand – Building and maintaining your corporate brand  what does your company look like from the outside? This makes sure you are hiring the right staff the first place.

Offering Competitive Salary Packages – Do not wait for an employee to get disgruntled and leave them with no option but to go to the job market before giving them their worth via a counter-offer. By this stage its usually  too late, the relationship has already been strained.

Communicate Goals –  Keep your staff informed and avoid a situation of circles within circles. Internal communication is paramount to a happy workforce.

Corporate Identity –  Have a company ethos and celebrate its unique culture and identity. This is one of the areas which makes your company different, so why be like the rest?

Fun –  Is working for your organisation fun? We all know it’s about bottom line at the end of the day but how you get there is the difference, a happy worker is a more productive and more enthusiastic worker. What is the average working day culture like in your organisation?

Involve in Decisions – Are your employees involved in the decision making process at your company or they simply told what is happening? By involving employees in the decision making process that can affect their jobs or the overall direction of the company gives your staff a sense of empowerment and belonging.

Respect – Don’t treat your staff like kids unless you want them to behave like kids. Respect should be mutual and makes for a professional working environment.

Balance Work and Life – We’re in the teenies, the invention of the internet gives us all the opportunity to work from home and/or benefit from flexible hours if your business model allows it. Give staff the option to work remotely this also shows your employees that you trust them to work at home and along with responsibility is an attribute that makes employees more loyal.

Recognise Performance –  If you don’t reward excellent performance, then excellent performers will go to an organisation to where they are recognised.

Clear Progression – Offer opportunities for career and education development, packages such as study days, compensation, advice. Also offer the chance for cross training into other areas of the business. People like to know that they have room for career movement.

Bonus potential – Lucrative bonus structures calculated by combining individual targets, department targets and corporate profits and make it limitless within company parameters.

Manage time –  It’s necessary to work long hours sometimes to reach important deadlines however make sure long hours are not embedded in your organisation culture. Sometimes an employee can feel emotionally forced to work long hours because everyone else is.

So what are you doing to keep your best staff, because if you’re not doing it your competitors will be!!

Oracle Retail Market Recovery

Most contractors will tell you that in the past 12 months the contract market has taken a battering. As end clients have down-sized their teams or delayed projects this has recently led to a temporary excess in talent in the market which has had the knock-on effect of driving down rates for contractors by as much as 33%.

Well the good news is that the worst days seem to be behind us. That is if we are to believe this recession is a “V” type recession and not a “W” type recession.

According to Apsco, Association of Professional Staffing Companies, The US staffing market will resume growth by 2010, following an unprecedented 26% fall in turnover in a single year (from a turnover of $126 billion in 2008 to $93 billion in 2009). However, the long term outlook for the US staffing industry is highly positive, APSCo delegates were told, with growth of 18.9% forecast from 2006-16, significantly above the average growth rate of 10.4% for all sectors of the economy.

Combine the above press release with the research in the UK from KPMG and the Recruitment and Employment Confederation (REC) whom found “marginal increases” in appointments in August. Things are looking positive for professional jobseekers across the globe. However, before contractors go and add 50% to your current daily rate and jump back into the job market pleading your worth. The research also added that it was too early to say whether the encouraging figures signalled an end to the recession.

The good news is that with France, Germany and Japan recently officially announcing the end to their recessions. There is a definite feeling that employers are beginning to have more confidence in their hiring plans and committing to their recruitment and growth plans. In the UK for example, Britain’s employers are reporting improved recruitment plans for the first time in three years, offering a “glimmer of hope” to jobseekers that next year promises to be a good year for contractors.

Also at Origin Forward our recruitment team has seen a 33% increase in job orders in the past month alone in the Oracle Retail global market. With opportunities arising in both the permanent and contract markets in countries across the globe from the UAE, United States, Netherlands, South Africa, India, Australia, China as well as the UK and Ireland.

The global recession has effected the Oracle Retail market hugely in the past 12 months. The Oracle Retail product is such a niche product with a limited amount of professionals and it is quite common for professionals in this market to work and bounce between continents from one project to the next.

However the past 12 months(2008/2009) have been slow in comparison to 2006 and we have seen a number of seasoned professionals move from the contract market after failing to secure a new contract to permanent roles for the security of permanent work in these uncertain times.

Also 2009 has also seen key system integrators who were or have been key players in the Oracle Retail market over the past 5 or so years, who were capable of delivering a complete Oracle Retail solution, completly downsizing their Oracle Retail practice and personnel. This has paved the way in the past year for smaller boutique consultancies offering specialisms in specific modules only and new larger consultancies entering the market who have not previously delivered Oracle Retail projects. It will definately be an interesting Oracle Retail climate next year and I envisage alot more partnerships between Primary System Integrators and smaller boutique consultancies who have the expertise and experience.

The bottom line is with the economy looking odds on for a recovery projects can go ahead, employers can begin to recruit with confidence and contractors who are not in the niche areas of Oracle Retail and Oracle eBusiness in general can also look forward to a return to post recession rates.

Also employers who converted contractors to permanent staff may face a battle to keep on to their staff as more opportunities arise in the market and their staff begin to get itchy feet knowing they could be earning twice as much in a contract role.

Lets hope 2010 is a good year.


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