Talent Wars - The Employees Strike Back!

TALENT WARS THE EMPLOYEES STRIKE BACK

The labour market over the past few years has a close resemblance to the Star Wars trilogy, according to Matthew Tukaki, head of Drake International. "Talent Wars is what I'd call it" explains Tukaki, "and we've recently finished Episode IV A New Reality, which saw a new reality for employees with the skills shortage and record high employment demand being replaced by downsizing, increasing unemployment, wage freezes and re-structured working conditions including reduced hours."

The power however seems to be shifting back in favour of employees and according to Matthew Tukaki, employers beware! "Episode V, The Employees Strike Back is now beginning to play out in the labour market as employees are getting back the power they once had pre-GFC". He extols companies re-entering the labour market to be cognisant of the sacrifices made by their existing staff during the past 18 months, "Companies need to be putting the interests of their existing employees first, before going out and hiring new talent otherwise issues related to retention, culture and productivity will occur."

Many staff are on reduced hours, have taken reduced pay or had a pay freeze and companies who go out and pay for top talent without firstly recognising and rewarding existing staff are going to have to deal with some very unhappy employees. "Disgruntled employees strike back by looking for employment elsewhere, reducing their productivity, talking down the company to colleagues and not engaging with customers effectively," explains Tukaki as he continued " the list is endless and the effects are extremely detrimental to companies trying to recover from a very difficult past couple of years".

Drake is seeing an increase in the number of people who are currently employed 'testing the water' to see what their employment prospects are like. "On a daily basis, Drake consultants are being asked what job prospects are like and who's currently hiring", explained Matthew Tukaki. "There is a real feeling of being 'used' and 'burnt out' for some employees who have taken on added workload and responsibilities, often without any financial reward, as a result of company redundancies, and for the company to hire new talent without due recognition of this often results in a counter-culture of negativity being created," he continued.

Another interesting insight being seen by Drake is that employees who where not made redundant are now seeing their mates, who were, getting new similar or better jobs at better money. "The lack of any real prolonged period of high unemployment has meant salaries have not dropped significantly and companies are having to pay top dollar to get talented people," explained Matthew Tukaki, "which again is causing remaining employees to question why they should hang around if they're not valued."

The final episode in the Talent Wars trilogy, according to Tukaki, is not to far away and is a return to pre-GFC times. "Episode VI The Return of the Skills Shortage will be coming to the labour market within 18 months, if not sooner," said Tukaki, "so look after the talent you've got and take advantage of the talent currently available in the market it won't last at today's prices."

Media enquiries:
Drake International
Matthew Tukaki
Regional Manager - Australia
Mb : 0409 707 572
[email protected]

SOURCE: Drake International