Current Trends in Job Market

Dear All

Many of us are having a lot of questions on what are the current trends in Job market. I have gone through a lot of sites, articles to find out the same and sharing it with you here:

Present Trends in Job Market - Priorities: Productivity and Performance:

In the present scenario, there has been a significant change in the functioning of organizations, Tremendous technical development, democratization of higher education, rapid global communication and changes in consumer values have brought about a new concept of work, resulting in a new way of working and creation of resilient work force with priorities of the organization being productivity and performance.

Present Trends in Job Market - New concept of Loyalty:

The organization requires a set of new employees who are willing to submit themselves to the new pattern of working. They have a abandon their old thoughts and attitudes and adopt new perception and develop positive attitude and thus move forward with the management in their onward march towards the global market. In the old concept, employees are assured of their job till retirement. They enjoy all privileges and rights and make use of all the leave and encashment facilities without much concern for the functioning of the organization and on their part; they provide the evidence of their loyalty during the tenure of their service.

In the new set up, loyalty is not an absolute factor either for an employer or a talented employee. What is the use of loyalty when the employee is not a potential performer? The slogan ‘security for loyalty’ is now replaced by ‘employability in exchange for productivity’. For key positions, officials are ‘offered project oriented contract’. The contract is renewed on the basis of performance in the completed project. The employees are at liberty either to accept or seek better, more remunerative and challenging contracts.

Present Trends in Job Market - Compensation for Performance:

The compensation for an assignment is generally based on cadre and tenure of service. But, of late a modern employer follows the principle of ‘compensation for performance’. In many of the MNCs, Salary is guarded secret. A recently recruited person may be drawing a little more salary is a guarded secret. A recently recruited person may be drawing a little more salary than a senior official and they may not know the salary of each other unless they exchange notes on it. The better salary is based on the person’s managerial trait and technical expertise.

Present Trends in Job Market - A Place for Leaders:

The employees are made to feel that they are part of the management and fully responsible for sustaining the image and vision of the institution. In today’s organization, managers are actively involved in the working process. They are not expected to merely manage, supervise or control the staff under them but to lead them. In other words, they are leaders rather than supervisors, or controllers. They should also change their attitudes and cultivate and develop new skills to meet the emerging needs of the institutions, as they are also involved in the changing policy matters, and planning and networking process.