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The New Job Contracts Expected When The Economy Returns To Growth Will Provide Different Packages To The Ones Before The Credit Crunch
Pensions provisions have long since been a worry for organizations who have seen over the last 10 years a massive fall in investment returns in their pension funds together with an ever increasing life expectancy and therefore burgeoning pension liabilities for these reduced funds to cover.
We have seen companies try to tackle these issues by re defining benefits and asking their staff to accept the planned changes. However a lot of the staff are discontented with the proposed changes and see any decrease in their pension availability (and other benefits) as unreasonable. Indeed in the UK at the moment there are huge issues with our postal workers, currently striking in order to protect the long time postal workers benefits. Royal Mail obviously saw problems looming a considerable amount of time ago. The employment contracts offered over the last five years provide employees with much less entitlement to benefits (including pensions) than staff who have been with the business for a longer period of time. So we have an perculiar situation within the organization at the moment, some workers out on strike to protect benefits they themselves are not actually entitled to.
We have just come through the worst episode of job losses that the UK has experienced for decades and following this down turn we will see the early stages of a recovery over the next few months. However the businesses looking for new employees over the coming months will not be merely replacing like for like in the job offer and benefits stakes. They will be looking to raise employee numbers, but keep a firm check on the benefits that they are tied into for the long term. Pensions offers will be much less attractive, to stop the growth of the current issues and employment contracts may well be for shorter periods.
There might be some positive results from the changes too. As more and more businesses make use of the power of Internet Business we will see some new organizations start to enlarge and offer a large amount of flexibility to the employee in terms of hours of work and place of work. This is predominantly possible when looking at online businesses. These have typically fared well throughout the downturn as they have normally a lower amount of overhead. Indeed a good number of them have in fact sprung up within the slump plugging holes that the closure of more traditional organisations have left.
Opportunities to work whenever suits the individual are rising with these new business models and even the ability to Work From Home is on offer, not only giving excellent opportunities for people who have other responsibilities but also keeping the business expenditure down at the same time. This type of flexibility will also make sure that the organisations keep hold of as many of their female staff as possible. Those who opt to have children are often in a difficult position when trying to return to employment and these new, much more flexible contracts and Online Jobs will at least be a helpful thing for these employees even though some of the other conditions may be inferior to post recession job offers.
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