Dive Brief:
- Employees responding to a recent survey said they’ll continue to actively job hunt, even if the predicted recession materializes, according to July 7 results from hiring software firm Greenhouse.
- Respondents said factors such as pay cuts or reductions to benefits — including perks like remote work and flexible schedules — would push them to look elsewhere.
- Greenhouse said the findings indicate that employees still have the upper hand in the labor market, and they don’t see that changing any time soon. Employers will have to tread cautiously in managing any turbulence, according to the company.
Dive Insight:
While jobs numbers haven’t yet shown signs of a recession, hiring site Indeed urged employers to keep an eye out for layoffs at competitors.
And if employers find themselves managing slow company growth or implementing hiring freezes, HR may need to help leaders “tread cautiously,” as Greenhouse advised. Responses to the firm’s survey indicated that employees expect information about such changes; many said their loyalty to an employer would be affected if the company wasn’t transparent around those issues.
Greenhouse also urged businesses to consider the long-term impact of any recession responses. For example, employees in the survey generally said they’d be hesitant to work for a company that had laid off workers in the past. “There's no outrunning the past, the internet never forgets and companies that rush to make major cuts may later suffer the consequences,” CEO and Co-founder Daniel Chait said in a statement. “Leaders have many cards to play before layoffs. It will benefit your business (and bottom line) to nurture your talent and get better at hiring than firing.”
If an employer undertakes layoffs, sources previously told HR Dive that compassion is key. That means considering the timing; expressing gratitude and accountability; and communicating transparently, they said.
