Australians happy to be made redundant
FORTY-FOUR PER CENT of Australians say they would take a voluntary redundancy. According to a survey of 1150 employees, 22 per cent say they would demand a six to ten-week cash payout rather than the two-week payout that 31 per cent of companies currently offer. Only 22 per cent of Australian companies provide career transition support, such as assistance with up-skilling, retraining and finding a new position, even though 85 per cent of the working population believes that it is the responsibility of their employer to provide this service.
Generation Y believes layoffs likely
NEARLY A third of generation Y believes that their employers will lay off staff because of the downturn in the economy. According to a survey of 2700 people, Gen Y is the most optimistic group and almost half of the general population said they expect substantial downsizing in the coming months. The research also revealed that 23 per cent of generation Y believes that their boss lacks the skill-set necessary to manage their way successfully through rocky times. A breakdown by profession showed that almost 40 per cent of generation Y in the IT sector believes their company will downsize and almost 55 per cent have no confidence in their senior management.
Employers grapple with impact of weakening dollar
MOST MULTINATIONAL organisations have not implemented solutions for mitigating the impact of currency fluctuations on compensation programs for overseas employees. According to a survey on the impact of the weakening US dollar on compensation in multinational companies, nearly half of respondents (47 per cent) say the depreciating value of the US dollar has had a moderate to significant impact on their compensation programs. Significantly, the majority of respondents (70 per cent) do not use US pay levels and dollar parity as a reference when determining pay rates for non-US based jobs.