How employees new needs will change business

As we all know, the economy is affecting all of us, employers and employees alike. It seems that everyday I am hearing from more and more job seekers that are out there looking... and looking.. and looking. Times like this can have a devastating effect on a career path (not to mention finances), and with those that were laid off, as many were after 9/11, are going through it for the second time in a decade.

9/11 hit so suddenly, and we all remember how some businesses (especially hotels and travel) almost ground to a halt. Companies reacted quickly, and people were let go with little or no notice, and often these were the top performers (due to the higher compensation packages). With it being highly unlikely that a candidate could land a similar job, many did whatever they needed to in order to put food on the table.

Some of these candidates may have founds new careers during this period (perhaps where they felt more immune to the sudden changes) however many waited it out and came back. And yet here we are again, and already the recovery period has far extended what is was in 2001-2002. For those who are in their second cycle of layoffs in less than ten years, they may feel that they only recently recovered from the financial challenges created the last time around!

Due to this, one of the biggest differences I am noticing in talking with candidates is a complete change in their view of what's important. They realize that job security, and the financial security they have worked so hard for, can all evaporate into thin air at any time; that there are no guarantees. Rather than their old goals of getting ahead and climbing the ladder, the new view is often, "I just want to do something that makes me happy." With this attitude becoming more and more prevalent, it is going to take some adjusting from employers. Perhaps not right away, as most people are just happy to have a job right now. But the smart employers will start to look at what they are doing right and what they can improve upon to provide the best atmosphere and company culture around. The smartest employers will be a step (or two) ahead of the competition, and will be thinking about what's coming, not just where things are right now.

-Margie

If you want information on a custom employee satisfaction survey, call me at 707-319-2550 or email Margie@OTLConsulting.com

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This entry was posted on July 30th, 2009 at 01:56:28 pm and is filed under Restaurant Management, Employee Management / Employers.

4 comments

Comment from: Shawn Devlin [Visitor] · http://www.surveysoftwareonline.com/

Margie,

I think this is going to come back to haunt employers due to a huge loss in loyalty from their employees.

Thanks for a great article.

07/31/09 @ 12:23

Comment from: John Burk [Visitor]

Margie, very good article. I think you will see major changes across all industries. As an architect with 40+ years of experience I have gone through numerous slowdowns in the economy for the design and construction industry. In the late 90's a generation of architects disappeared from the profession and it had become very obvious in offices going up to the current meltdown.

In the past the education of an architect often allowed them to move into other fields and develop productive careers. The people graduating these days do not have that option as new programs for people specific to those industries have developed. There are very few positions open in the design fields as many experienced people are available because of the economy. Changes to technology use in the industry now put a premium on experience not only with the technology, but with having knowledge of construction means and methods which is not taught in the college courses.

While employers can pick the best and brightest currently in the design field and across many industries, in the future this will not be an option as the economy picks up. You are correct in your statement that the good companies will stay ahead of this curve and take care of their employees in new and better ways to maintain their competitive advantage.

Personally I have chosen another path. I have my license so opened my own firm. With licensing requirements in the design profession you must practice under a licensed designer to obtain your license. With few jobs available graduates without experience will once again leave the field and in the near future there will be a shortage of professionals in the design fields. This may also hit other industries that are the hardest hit with unemployment during this period and will ultimately impact the future economics of this country.

08/11/09 @ 10:31

Comment from: Eric Herrenkohl [Visitor] · http://www.herrenkohlconsulting.com

Hi Margie -

Thanks for your article. My clients have found that, used correctly, a career planning process that takes into account both what the company needs from the employee and what the employee wants from his or her job can have real impact on employee retention. In franchise operations particularly, where turnover can be a problem, some basic career planning can extend the tenure of an A-player employee by months and even years.

Thanks for starting this conversation.

Eric Herrenkohl
wwww.herrenkohlconsulting.com

08/11/09 @ 14:01

Comment from: Jeffrey Shilling [Visitor]

· http://www.OdysseySpirits.com

I enjoyed reading your thoughtful post. Your point that "people are going to be looking for what makes them happy" supports my rationale for going to great lengths to create a company that focuses on hiring on the basis of an individual's passion for the business we are in and providing them an work environment where they will be rewarded for applying their talents on a daily basis rather than focusing on matching skills to job descriptions.

It's my belief that people who enjoy their work and workplace will be more inclined to take ownership of the quality of their work and therefore are more productive with their time which benefits everyone involved - company, employee and customer. Designing a company from the ground up with this ethos built in vs. shifting an entrenched company will definitely be easier, which is a competitive advantage I am more than happy to exploit to the fullest possible extent.

08/12/09 @ 01:40

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How employees new needs will change business

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