Thursday, 17 May 2012

Job Search Employment Outlook
According to the Manpower Employment Outlook Survey Q1 2012, 6% of employers expect headcount to increase, 8% forecast a decrease and 84% anticipate no change, the result a net Employment Outlook of -2%.  The significant difference in employment rates across regional labour markets has resulted in recent trends being mixed, however across the spectrum was a major commonality; the bleak report on the future of the economy.
With the news of budget cuts, growing inflation rates and organisation freezing pay, the level of job security continues to fall. The Acquisition and Retention in the War for Talent survey showed that 37% of employees frequently think about quitting their jobs, 66% intend to search for a job in another organisation next year and only 44% feel valued by their employers. 

The disheartening employment outlook reports have amounted to declining employee engagement levels across industries as such the number of employees seeking new roles has increased making the job market highly competitive.  Job seekers are now utilising alternative routes to the traditional methods to increase their chances of finding a new role.  Social Media and Career management are amongst the growing trends in the job search market.

LinkedIn's Q1 2012 financial results stated that its Hiring Solutions amounted for over half of its revenue; this confirms there are many job opportunities available from tapping into Social Media.  The Acquisition and Retention survey also showed that 41% of employees use their social media network when making career decisions.  One thing is certain, to maximise the chances of securing a new job in the current state of the economy, job seekers to need to stay abreast of growing trends and utilise the alternative routes to the job market.

Synopsis thanks to Connaught Executive Ltd,

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