Credit crunch hits recruitment confidence

ONGOING uncertainty in financial markets is affecting the ambitions and employment security of workers and job seekers in Yorkshire, according to a new study.

Leeds-based ABPM Recruitment, a financial recruitment company, commissioned survey of its candidates to see how the credit crunch was affecting their confidence.

Almost three-quarters (74%) said that the credit crunch hadn’t affected their determination to switch positions to further their career.

However, 54% of candidates said their employers had had to realign business strategies to cope with the downturn and 55% stated that internal promotions had been cut meaning career advancement had been affected.

Almost half of respodents (49%) said they felt their roles weren’t as secure as at the same time last year, which mirrors the 67% of people who now feel unable to approach their employer about pay rises and benefits.

Tim Morgan, managing director of ABPM Recruitment, said: “There has been so much speculation about the bigger picture when it comes to the credit crunch, so it’s fascinating to see how the people at the coal face of Yorkshire’s business community have been affected by what’s going on.

“It seems from these results, and from conversations with our candidates, that there is concern but people are still positive about the future and realise that strong and well structured businesses will get through these challenging times.”