A crisis creates two main trends for both employees and employers.
A labour market in the employer's favour. When the economy is booming and growth is seen across nearly every sector, the labour market works in the interests of employees — but a crisis turns everything on its head overnight. Production falls, jobs are cut, and vacancies become fewer and farther between. At the same time, people's "financial safety cushion" shrinks, and a moment arrives when companies begin dictating their own terms to workers.
The best employees can be found during times of crisis. A crisis is the time to hire top talent — people who simply would not have been available during stable periods. Now is the moment to attract the best candidates away from short-sighted competitors.
The original article by Gremi Personal founder Evgenia Kirichenko is available in Polish here.
A crisis shifts the labour market in the employer's favour. Production falls, jobs are cut and vacancies become scarcer, while people's financial safety cushion shrinks. At that point companies begin dictating their own terms to workers.
During a crisis, the best employees can be found, including people who would not have been available in stable periods. It is therefore a moment to attract top candidates away from short-sighted competitors.
When the economy is booming and growth is seen across nearly every sector, the labour market works in the interests of employees. A crisis turns this around overnight, so the balance moves toward employers instead.
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