The Halcyon Days Are Over. Or Are They?: Implications of the Global Financial Crisis for Managers' Careers
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Author(s)
Marchant, Teresa
Griffith University Author(s)
Year published
2009
Metadata
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This paper discusses the implications for managers' careers of the global financial crisis. It draws on empirical research during the last period of major job cuts. Evidence comes from a mail survey of over 1000 career histories of Australian managers, with a response rate of 44% . Changes to career satisfaction, job satisfaction, job security, expectations regarding future career moves and employability are reported for retrenched managers. The paper contributes a context for changes to managers' careers in terms of labour market structures and economic conditions. The main results are that following 1990s restructuring, ...
View more >This paper discusses the implications for managers' careers of the global financial crisis. It draws on empirical research during the last period of major job cuts. Evidence comes from a mail survey of over 1000 career histories of Australian managers, with a response rate of 44% . Changes to career satisfaction, job satisfaction, job security, expectations regarding future career moves and employability are reported for retrenched managers. The paper contributes a context for changes to managers' careers in terms of labour market structures and economic conditions. The main results are that following 1990s restructuring, job security was low and retrenched managers were less likely to have invested in their own employability, but paradoxically, exhibited more of the attitudes associated with employability. The paper is useful for careers practitioners to understand the impacts on managers experiencing job loss and to be aware of possible outcomes and actions required of individuals.
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View more >This paper discusses the implications for managers' careers of the global financial crisis. It draws on empirical research during the last period of major job cuts. Evidence comes from a mail survey of over 1000 career histories of Australian managers, with a response rate of 44% . Changes to career satisfaction, job satisfaction, job security, expectations regarding future career moves and employability are reported for retrenched managers. The paper contributes a context for changes to managers' careers in terms of labour market structures and economic conditions. The main results are that following 1990s restructuring, job security was low and retrenched managers were less likely to have invested in their own employability, but paradoxically, exhibited more of the attitudes associated with employability. The paper is useful for careers practitioners to understand the impacts on managers experiencing job loss and to be aware of possible outcomes and actions required of individuals.
View less >
Journal Title
Australian Journal of Career Development
Volume
18
Issue
3
Copyright Statement
This article may not exactly replicate the final version published in the ACER journal. It is not a copy of the record. Final and authorised version first published in the Australian Journal of Career Development in Volume 18 (3), published by the Australian Council for Educational Research. Copyright 2009 Australian Council for Educational Research. Please refer to the journal link for access to the definitive, published version.
Subject
Human Resources Management
Specialist Studies in Education
Business and Management
Psychology