What’s on the job market horizon 2
As long as there is continued movement of people within your industry, there is still opportunity,longchamp outlet
said Alan Kearns, president of Ottawa-based coaching company CareerJoy. “If the economy continues to linger, we will see a reduction in flow of people between employers. The danger signs you have to watch for are layoffs and hiring freezes,” he said. “I’ve recently seen a growth of business in outplacement of displaced executives, and that’s not a good sign,” he said.
“Another element we are paying attention to is outplacement of government employees as the federal government and provinces reduce head counts, a process that’s increased in the past few months,” Mr. Kearns said. That could reverse itself, though, if governments decide to apply economic stimulus, as government jobs are often the first to be created.
The public sector was the bright spot in Friday’s job numbers, with an increase in employment of 22,000, balancing out a loss of 20,000 positions in the private sector.
What’s your bottom line?
The fourth quarter, from October through December, is a particularly hazardous time even in a good economy, warned Warren Lundy, partner with OI Partners-Feldman Daxon Partners Inc. in Toronto.
Companies planning to make cutbacks want to book their expenses related to severance, unemployment compensation, career transition assistance and other costs in the current year, so they can start the following year more streamlined, he said. And as the heavy deck-clearing in the 2008 recession demonstrated, there can be little warning before the axe falls and even good performers might find themselves expendable.
“You may be able to correct performance-related issues if they exist, but individual employees do not have much control over their company’s financial situation and the economy,” he said.
“Layoffs and terminations usually take most people by surprise. They are generally unprepared for what to do next,” Mr. Lundy said. “Even if you think your job is secure, it’s prudent to be on the lookout for possible termination warning signs, make adjustments if you can, and be ready to move forward if a job loss occurs,” he added.
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