Employees value job stability in tough climate: survey
Employment priorities have changed significantly as a result of the global financial crisis, with employees now valuing job stability over money, a new survey reveals.
The result of the Onetest 2009 Employee Opinion Survey of 2,500 Australians revealed that 67 percent of the Australian workforce have felt the effects of the financial crisis on their careers, with 22 percent nominating job stability as the most important factor when searching for an employee, compared with money in 2008.
Onetest CEO Steven Dahl said the country’s labour market has done a “complete 180 degree turn” in the past year.
“We’ve gone from an applicant shortage to sheer market saturation as rising unemployment caused by the GFC has led to an influx of job seekers vying for fewer positions,” he said.
“As a result, respondents indicated the most important factor when searching for an employer was job stability…the value placed on salary and wages was noticeably down in 2009,” he added.
The survey also found that 55 percent of employees feel that they now have less power to ask for what they want from their employers, while the most important factors affecting job satisfaction included career progression (26 percent) and work/life balance (25 percent).
Onetest head of psychology Cherie Curtis said during times of economic uncertainty and low job security, it is common for employees to experience reduced levels of engagement with their employers.
Feeling disposable leads to lower levels of satisfaction, engagement and productivity so for employers to come out on top after the downturn, they need to treat employees as if it’s still a jobseeker’s market,” she said.
Employment priorities have changed significantly as a result of the global financial crisis, with employees now valuing job stability over money, a new survey reveals.
The results of the Onetest 2009 Employee Opinion Survey of 2,500 Australians revealed that 67 percent of the Australian workforce have felt the effects of the financial crisis on their careers, with 22 percent nominating job stability as the most important factor when searching for an employer, compared with money as the most important factor in 2008.
Onetest CEO Steven Dahl said the country’s labour market has done a “complete 180 degree turn” in the past year.
“We’ve gone from an applicant shortage to sheer market saturation as rising unemployment caused by the GFC has led to an influx of job seekers vying for fewer positions,” he said.
“As a result, respondents indicated the most important factor when searching for an employer was job stability…the value placed on salary and wages was noticeably down in 2009,” he added.
The survey also found that 55 percent of employees feel that they now have less power to ask for what they want from their employers, while the most important factors affecting job satisfaction included career progression (26 percent) and work/life balance (25 percent).
Onetest head of psychology Cherie Curtis said during times of economic uncertainty and low job security, it is common for employees to experience reduced levels of engagement with their employers.
“Feeling disposable leads to lower levels of satisfaction, engagement and productivity so for employers to come out on top after the downturn, they need to treat employees as if it’s still a jobseeker’s market,” she said.
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