2011 is now well under-way and last year’s trend towards a labour tight market continues to hold true. Employers have been forced to re-assess their recruitment practices, with many engaging with recruitment agencies for the first time in a number of years. High calibre candidates are increasingly aware of their worth; a factor which is acting as an accelerant to wage growth.
If employers are to inject more financial resources into the recruitment of the ideal candidate, then surely there is even more of a need for investment in staff retention? Offering a higher salary will not earn companies the loyalty they are seeking. This tactic can more accurately be viewed as a quick fix to capture “that” candidate from the market. However, what is it that will deter the candidate from jumping ship in 6 months’ time, when a competitor offers them a salary increase?
This is particularly true of the junior end of the market. An offer of an extra $5K can represent as much as a 15% pay raise for those in the early stages of their IT career. As Gen-Y represents an increasing proportion of the junior-end of the IT Industry, managers must be more attuned to the characteristics of this demographic.
Key Strategies for Managing & Retaining Gen-Y Read more…
2010 has so far been a year of recovery for the Australian economy. The vast majority of us have breathed a collective sigh of relief as the unemployment rate reduced with consumers and businesses sharing a more positive outlook on the market. Balance, however, is a difficult state to obtain and Australia is now faced with another challenge…
If you are currently in your last semester at uni, you may think that it’s too early to start worrying about how you’ll land your first job. As a recent university graduate myself, I speak from experience when I say you’d be wrong.
Loading ...
