2 in 5 top bosses remain confident, though, that their business may well stagnate, but won’t decline.
Recruiters theladders.co.uk, which target £50k-plus jobseekers, asked 300 top execs about their predictions for 2009. The general mood was upbeat, with over half saying the job market will keep on paying for experience, rather than cutting pay to shave costs.
That’s led nearly 2 in 3 to say they will not take a pay cut to save their job. 42 per cent even plan to change jobs themselves next year – despite 3 in 4 saying their sector will suffer job losses.
Which are the sectors at threat? Execs have pinpointed the following sectors for possible declining car-buying customer bases:
Retail: 65 per cent say it will be hardest hit
Finance: 57 per cent
Sales & Marketing: 52 per cent
R&D: 34 per cent
And the ‘safe’ sectors, with customers boasting the best prospects? 29 per cent say the legal profession will be safe. 15 per cent reckon technology is secure.
“There is no panic, but a sense of realism from the senior managers we spoke to,” said Derek Pilcher, MD of theladders.
‘They are bombarded with doom and gloom every day, which has impacted their confidence in the market – but, closer to home, they have a belief in the resilience of their business, and their own experience and worth, within the job market.’