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The period right after Labor Day weekend feels like a time of change in the business community.
With children heading back to school and summer behind us, I usually sense a renewed "getting down to business" attitude among business people and their companies. Summer vacations are done, so staffing levels are returning to normal during a time when the economy is showing signs of turning around. Companies may see this as an opportunity to make a big fourth-quarter push in an attempt to salvage what has been a very difficult year in nearly every industry.
Making that push means companies will ask more of their workers - on staffs that probably are a bit leaner as a result of this recession. With that in mind, here's a couple of studies released last week that address how to take care of workers and the outlook of hiring more in the coming months:
While many are still happy, job satisfaction is dropping. According to a survey from SnagAJob.com, 58 percent of the U.S. workforce is happy on the job, which is a good thing considering the additional stress caused by the upheaval in the economy in the past year leading to budget cuts, layoffs and furloughs.
However, that satisfaction rating is down from 65 percent in 2008, so the stress appears to be having an impact. As many business owners have learned, unhappy employees lead to all kinds of problems, including increased turnover. According to the survey, only 18 percent made a career change last year, but of those who did, one-third did because they were looking for a new opportunity, while 25 percent sought new employment because they had been laid off.
Having a high percentage of workers leave to look for new opportunities in a very difficult job market should serve as a warning to business owners and managers to take some time check in on employees about how things are going. After all, many have had to take on added responsibilities in the past year because position reductions came during a time when it was difficult to get pay increases.
"If the experts are accurate in predicting the end of the recession this fall, we expect that the New Year will afford job seekers a better selection of opportunities and the opportunity for employers to compete for the most talented employees," said Shawn Boyer, founder and CEO of SnagAJob.com, in a press release accompanying the data.
Heading into the fourth quarter, one survey projects a weak hiring pace. The Manpower Employment Outlook Survey indicates 69 percent of employers expect no change in their fourth quarter hiring plans, while 14 percent expect a decrease in payrolls and 12 percent expect an increase. The remaining 5 percent were undecided. Among employers in western U.S., 13 percent expect to add staff, while 16 anticipate a decline in payrolls next quarter.
Of the 12 industry sectors surveyed in the western part of the U.S., education and health services employers are expecting the most promising quarter-over-quarter change, while the construction, transportation and utilities, and leisure and hospitality categories expect to see more of a slowdown.
"Though we would like to see positive economic growth across all 12 industry sectors, there is still good news here in Whatcom County," said Dale Sprague Jr., Manpower's Bellingham branch manager, in a press release about the numbers. "With several of the top companies in the region falling within the education and health services sector, we have potential to offset further losses in our region."
So, if companies continue to try to do more with less in the final months of 2009, it's important to keep in mind the workload of each employee. The good ones will be crucial to keep as the economy starts to turn around, and it'll be important for business owners to make sure they are happy.
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