The impact of recession on it recruitment and retention
International Journal of Knowledge, Culture and Change Management , Volume 10 - Issue 4 p. 99- 107
Highly skilled resources are in demand regardless of the economic climate. During challenging economic times, highly valued and skilled employees might emphasize job security and benefits over innovative and challenging work environments and become immune to the retention efforts of extrinsic rewards such as increased salary, cell phones and longer vacations. IT firms are currently faced with the challenge of attracting employees based on job security and organizational stability, when previously they touted dynamic environments and challenging projects. Organizations are experiencing a dearth of truly desirable candidates within a glut of less attractive applicants that need to be validated, a time-consuming activity that often brings candidate qualifications into question. At the same time, organizational cutbacks have reduced the resources available to perform proper reference and resume validations, increasing the risk of problematic new hires. However, these firms are optimistic and looking towards the future. They are focusing on how they can position themselves for the challenges of the future.
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Friedman, P.-A. (Perley-Ann), & Schweitzer, L. (2010). The impact of recession on it recruitment and retention. International Journal of Knowledge, Culture and Change Management, 10(4), 99–107.