Jose Ruiz

Jobs: Lessons from the Great Recession (Business Week)

Those who still have jobs should get used to pay cuts, furloughs, and all-around uncertainty. Welcome to the age of the microentrepreneur

By Chris Farrell (Source: Businessweek.com)

Thanks to the Great Recession, another corporate taboo has been shattered: large-scale pay cuts. As a general practice, companies typically resist slashing worker pay during downturns, especially for their white-collar employees. The preferred response to falling profits has long been layoffs. The main reason both managers and workers prefer layoffs to pay cuts is that pink slips seem to concentrate the pain while pay cuts spread the distress.

“Employers are reluctant to cut the nominal rate of pay,” says Daniel J.B. Mitchell, professor emeritus at the UCLA Anderson School of Management and the School of Public Affairs. “It causes morale problems and antagonizes the workforce.”

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By Jordan Golson (GigaOm/Businessweek.com)

As social networking sites explode in popularity, they have become the prime avenue for many job hunters

The Internet has changed a lot of things over the past decade or two—including how we search for jobs. Sure, the basics are the same: Find an opening and apply for it. But the Web has permanently altered the employment process. And with more than 1.2 million info tech jobs lost this year, according to the U.S. Bureau of Labor Statistics, a lot of people are going to be using every tool they can get to find their next job.

While networking is (and has traditionally been) the best way to find a new job, the second-most effective tool is another type of networking: sites like LinkedIn, Facebook, and Twitter, according to a poll released Aug. 17 by placement firm Challenger, Gray & Christmas. Old-school employment search tricks like attending job fairs and reading newspaper classifieds got the lowest ratings. Here’s how the Web is changing how we look for jobs.

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