The article excerpts below (full article, www.washingtonpost.com) seems to state briefly what I’m reading everywhere: that the economic signals are improving, but employment recovery will likely be slow to follow. Seems employers are prudently holding on to current assets, waiting to see if the recovery continues before moving forward.
All this may be true, but business is still doing business, and it needs strong leadership. There are more great people than ever moving around and available … and companies are noticing. Even though there may not be a formal “vacancy”, employers are recognizing the opportunity to replace ineffective leaders, and they’re doing it.
Remember: if you’re good at what you do and you stay visible, you will transition.
Questions? Call me, 800-876-5506
Washington Post Staff Writer
Thursday, September 24, 2009
According to the researchers, the results illustrate widespread uncertainty and caution among employers.
The employers are thinking, “‘Maybe we need to take even fewer risks and not extend ourselves,’” said Angelo Kostopoulos, president of Akron Inc., a District-based firm that conducted the survey for the association. “You need a year or two to let things settle down before you start extending yourself again.”
This year, 13 percent of the employers surveyed said they would freeze salaries for 2010, compared with 2 percent who said so last year. On average, the employers’ pay budgets will rise 2.8 percent, compared with 3.8 percent last year. 37 percent said they would reduce their budgets for raises, compared with 28 percent who said so last year.
Employers planning to offer the highest raises are professional services firms — 3.8 percent increases for salaried employees. Technology firms were more likely to report that they intend to increase their budgets for raises, while government agencies, schools and health-care institutions were less likely to say so.