Business owners and decision making personnel dislike uncertainty. Running a business at such times is akin to navigating through a minefield – you just don’t know what is around the corner. The debt crisis in Europe is likely to have serious implications to the UK job market if it is not bought under control quickly and whilst I think the second Greek bailout will definitely bring some level of confidence back to the market (as seen by share price reactions this week), we cannot forget that there are at least four other European countries in financial difficulty.
What business owners need right now is confidence. Confidence to invest, expand and hire. When I speak to fellow business owners, the one think I am struck by is their British spirit – of remaining positive, determined and ambitious at times of adversity. If there is the slightest chance they can expand their business, they will take the plunge and go for it.
It is vitally important for the recovery in the UK that business owners are not made to shrink back into their shells and therefore support will be needed from the Goverment and quickly should the European debt crisis not be controlled and quickly.
From a job seekers point of view, the secretarial market at times like this is one of the best places to be, because all industry sectors hire secretaries. Even in a a crisis, there will always be someone hiring. Yes you will need to be more open minded, but if you have the skills and experience, then there will always be opportunities to apply for.
From an employers point of view, there is still cautious optimism in the face of difficult market conditions overall. In reality, there are some industries doing better than others and this is reflected in their hiring strategies. There has been a surprising amount of recruitment taking place in 2012, although I am not sure this is a true representation of the overall London secretarial market and is as much to do with the entrepreneurial British mindset I mentioned earlier.
The European crisis is a serious one. If it worsens, then it will be just another challenge we all have to face, and I think Employers, job seekers and recruiters are better prepared and experiened to face this head on than they were in 2007.