Uncertainty or opportunity?

14th August 2010

At a recent Hampshire Economic Partnership seminar, the theme repeated around the room was uncertainty. As organisations look for new ways to sustain their activity, increasing numbers of employees are facing an uncertain future. I was interested to read the Labour Market Outlook from CIPD/KPMG and want to share it with you. The tough news is that a third of employers expect to cut jobs during the coming months.The proportion of the workforce affected by redundancy programmes has jumped by 50% in the past three months (to Sept 2010). Redundancies will affect almost 8% of the workforce in public sector organisations (particularly in local government and education), followed by workers in healthcare, public administration and defence. But on the positive side, manufacturing and production employers are least likely to make redundancies. In fact, manufacturing, production and private sector services (particularly IT and consultancy services) expect to recruit. Overall, two-thirds of organisations expect to recruit in the coming three months – and the government has still to announce the results of its Comprehensive Spending Review in October. If you are interested in government data on its spending, borrowing and economic performance, see the Treasury infographics.

What does the economic outlook mean for you and your work? May you need to develop your career in a new direction? Might this moment actually be an opportunity to review where you are going and consider what you want to do with the rest of your life? Out of every challenge is often a new opportunity. Call me on 07941 668841 to find out more and see my Redundancy Coaching site if you are, or may be, directly affected by redundancy.

The CIPD/KPMG Labour Market Outlook (August 2010) was based on 598 responses from HR professionals, collated and compiled by Ipsos MORI.

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