Are you Thinking of Moving Jobs? Think Again
People are always looking for better-paying jobs; after all, who wouldn’t aspire for a higher salary? In fact in a survey conducted by Bayt.com early this month, half of the respondents said they are considering a change in industry in the next few months, with “better pay” as the top reason.
But with the unstable global economic conditions today, experts are saying that employees looking to move to another company should think twice. This year, people would be better off staying put and working closer with the management to help keep their firms afloat.
If you quit your job now to go out into the career jungle hoping to find a better one, you may just find yourself stuck in an unhappier, more uncertain position, experts say. So don’t risk it.
“We are not encouraging [people to move jobs] at this point in time”, as the world economy is still reeling from the recent shocks in the markets, said Vagelyn Federico, president of the 300-member Filipino Human Resources Practitioners Association (FHRPA), an organization covering up to 100 top companies in the UAE.
“Generally speaking, the year started with no confidence in the market and then China crashed hard enough to trigger a market closure twice in 10 days. This pretty much sealed the deal and stock and commodities markets all over are reacting to this,” Federico said.
And as in a domino effect, the impact of these market movements has been trickling down to people’s spending patterns.
“People are spending less money in Dubai. When this happens, liquidity is low, and the flow of money to projects is low and slow,” Federico explained.
When projects are hard to come by, people don’t get paid on time, neither would they have money to pay their bills and loans, she said. “Banks wouldn’t have the money. The bottom is hit and management starts asking questions about forecasts and budgets. People get laid off. This triggers even lower liquidity and the vicious cycle continues. This is what’s happening right now in most small companies.”
With the declining oil prices, terminations are also happening in the oil and gas industry, and to some extent, in the banking sector, according to Ian Giulianotti, director at Nadia Recruitment and Training in Dubai. Other sectors, however, are still thriving, he said.
“It is really difficult risking jobs,” Giulianotti said. “But what we do see is that those employees, who show commitment and loyalty in times of trouble, normally see rewards in the long term.”
Instead of embarking on a risky job hunt these days, it would be best for employees to help their companies weather the storm.
“When businesses are not doing good, employees need to show their supervisors they can wear many hats, do multi-tasking, be innovative and productive, and make a difference in uplifting the company,” Federico said.
“In other words,” she added, “it’s showtime!”
Not only would going the extra mile make an employee shine, it would also significantly help the company survive the bad times until business has stabilized again.
In a statement to The Filipino Times, Bayt.com, a top human resource company, said employees would need to “think outside the box” and make themselves more competitive.
“If the economy is low, they should ask what they could do to ensure that they are not easily replaceable?” the statement read, recommending people to beef up their careers with online courses, skills test, and other opportunities that could help them grow.
“Companies do not usually let go of productive employees, and in cautious times like these, employees need to ensure they’re on top of their game by constantly learning, improving their productivity, and working on their transferable skills,” the report also said.
Bayt.com said that while the recent conditions have led to a sense of “wait-and-watch” and lower recruitment activity in some sectors, there are still employment opportunities available in the UAE and in the region today, and there will be more to come in the next couple of years.
When it comes to the available positions in the job market, Giulianotti said most of Nadia Recruitment’s client companies prefer candidates that are already settled and working in UAE.
“As long as they fit the requirements of the client, can handle themselves very well, and is confident enough during interviews, they have a good chance in getting a better job,” Giulianotti told The Filipino Times.