The stability and future of careers in the HR industry over the next three months look bleak. With the proposed cuts in the public sector, the private sector will feel the effects and be forced to make redundancies; unfortunately HR professionals are going to be the ones to feel the brunt of it.
With the proposed job cuts there will be a decrease in demand for HR staff in recruiting. Research, conducted from online re-employment assistance provider MyWorkSearch, has indicated that most executives should expect to lose up to 10% of their workforce. Further to this 60% of public sector HR executives and 48% within the private sector anticipate redundancies in the next quarter. As little as 13% of those surveyed believed the job market had improved over the last three months.
Despite recent reports declaring an increase of those in employment, the results make it clear that jobseekers still face real challenges securing employment and need all the help they can get. The majority of HR professionals think that practical and relevant help provided by job seeking assistance is a better investment for redundant employees than the short-term benefit of a financial settlement. The support is so high that 68% think it is in the government’s interest to provide funding to help organisation’s deliver it.