HALF OF BRITISH BOSSES
HALF OF BRITISH BOSSES PREDICT FURTHER BUSINESS DECLINE IN 2009
The second stage of a year long study by TheLadders.co.uk into British bosses attitudes to the economy and job market reveals 37% believe the UK wont be out of recession until 2011 with four out of five saying further job losses are inevitable.
In the study, TheLadders.co.uk interviews 300 bosses every six months to gauge how the changing economy is shaping their attitudes to the job market. In the second stage of the study, conducted in April, the careers site found one in three bosses believe that so far, the recession has just sorted the wheat from the chaff whilst 72% cannot see any major recruitment drives for at least six months. In fact, 73% know at least one person who has been made redundant in the last four weeks.
Whereas six months ago, when the study was first conducted, 61% agreed that they would not take a pay cut to save their job, this time around the figure who would refuse a pay cut has dropped to 25%, reflecting the critical conditions that many businesses now face.
For the business leaders who are recruiting over the next six months, 46% are looking for candidates who are able to generate revenue (sales) for their business whilst just 15% say their focus for new recruits is on reducing expenditure (audit and cost control).
This focus on generating business and growing the sales channel is an opportunity, says Derek Pilcher, Managing Director of TheLadders.co.uk. Far from the cut back to the core mentality which sees businesses literally hibernating during periods of economic turbulence, recruiting individuals who can go out and create new opportunity has a knock-on effect across the organization. It is a positive sign in an otherwise very difficult market.