The labor market is starting to look more and more like the one we experienced in the late 1990s. Companies are undoubtedly reluctant to increase their costs, but it has become necessary to boost salaries and special benefits in order to attract and retain the top talent.
More Quotes from John Challenger:
We now see more and more of these Old Economy-New Economy hybrids cutting their online staffs, ... Companies that were hoping, if not expecting to eventually shift the lion's share of their business to the Internet may be forced to consider entirely new strategies for both short term and long term.John Challenger
Generation Y wants more meaningful work and is looking for more give-and-take from their employers. They want a lot of responsibilities and also to do work that is interesting to them.
John Challenger
Mergeracquisition activity was the second leading cause of job cuts (in January), behind cost-cutting. It will continue to be among the top job-cut reasons this year as an improving economy and increased competition force industry consolidation.
John Challenger
These sectors may continue to see high chief executive turnover in light of what will most likely be categorized as a lackluster holiday shopping season.
John Challenger
The question for the economy at large is to what extent will it absorb these people and these businesses.
John Challenger
Job cuts are likely to continue in the telecommunications industry, which is still not able to see the light at the end of the tunnel,
John Challenger
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