Hiring is Slowing Down as 2017 Elections Approach. Here’s How to Survive.

Kenya jobs, 

By Perminus Wainaina

2017 has not been a good year for job seekers and employers.  From early January we have heard of banks laying off staffs in their hundreds, and this is still ongoing as they seek to reduce costs and keep afloat.

The NGO sector has also been affected, with international NGOs laying off staff due to reduced funding. Some of the people I have talked to attribute this to Donald Trump taking over at White House.  

From the multinationals to the SME owners, everyone is feeling the effects of the tough economic times.

At Corporate Staffing Services, where I lead the recruitment team, we have seen a high increase in the number of professionals from banking, NGO, Real Estate and IT sectors registering their CVs with us due to being laid off.

And 2017 being an election year hasn’t made things any easier. It has now become a routine whereby every time we are in an electioneering period, things slow down.  

Few businesses are looking to venture into new markets, investors are holding back and even some employees are not comfortable relocating or looking for jobs in some regions. Generally, you have a situation where the majority adopt a wait and see attitude.

Unfortunately, when the going gets tough, the first people to feel the negative effects are those actively looking for employment.

In March this year, we conducted a survey titled job outlook 2017. One of the startling findings was that less than 25% of Kenyan employers were looking to create new positions/jobs this year. The majority are looking to hire replacements that are critical for the running of the organization.

Shockingly, 83% of employers do not intend to review salary this year and the few organizations that intend to will do so to cater for inflation. This translates to a salary increase of around 10%. From the survey, we also got to know that while hiring replacements, employers are looking to cut on salaries and benefits.  

I have looked at various job sites and some of the salaries quoted do not match what employers were paying two years ago.  It is, indeed, a tough time to be looking for a job. But, I don’t want you to despair.

There are lessons to be learnt from this and I would like to conclude this post by outlining those lessons.

1. Make an Informed Choice.

First and foremost, it is important to carefully make an informed choice especially if you are looking to change employers.

Salary increase should not be the only thing you consider in an offer.  At this time, stability and job security should be your priority. You don’t want to get a 30% salary increase and earn that for only three months.

Employers are equally feeling the pinch and those without solid business models are not doing well. 

Some industries, such as IT Software, have been hit harder than others, with many companies not being able to pay their salaries and other obligations in time.

2. Invest In Yourself.

I wholly agree with Robin S. Sharma when he says, “investing in yourself is the best investment you will ever make. It will not only improve your life, it will improve the lives of all those around you.” There’s also another quote to the effect “fortune favours the prepared”.

Considering that you and I cannot predict the future, the only way to safeguard our careers from layoffs, redundancies, etc., is by investing in ourselves. This can take many forms. Some people are good at side hustles. And for some, it might mean going back to class to acquire more knowledge.

One investment I highly recommend to my coaching clients is to be an all-rounder. Make a point of knowing how things work in your department. Don’t specialize. For example, if you are in Accounts, don’t just do Accounts payable. Also learn how to file taxes, Accounts receivables, etc.

Another way to invest in yourself is by nurturing and growing your network. As companies cut on costs, they start relying more on referrals when it comes to recruitment and job opportunities.

Perminus Wainaina is a Certified HR Consultant, Career Coach & Personal Development Consultant. Through coaching, he works with senior level professionals who want to build their careers and grow to the next level. More on career coaching here.

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