but a few smart and qualified engineers decided to quit and look for other opportunities.
This reminded me of a decision a company here made at the GFC. They decided to fire a lot of people and then hire them back through a fresh interview process. Two of the people are highly specialized and there is pretty much no one in the country that can do their job - let alone with years of experience under the belt. They knew their worth, they knew the conditions, they went out and started their own business. Five days later, the company called them and said, "btw, good news, you guys can come back to work without the interview!"
No thanks.
They are now contractors earning magnitudes more than they were, doing exactly what they were doing before, often sitting at the same desks they had before, when they aren't doing work for competitors too.
Yeah, the story repeats in all industries in virtually all countries. I know a lot about the energy sector and it’s notoriously cyclical. We fire good people at the bottom of oil prices and then hire greenhorns out of school at the top. And we repeat, thinking “this time it will be different” :)
Thanks you. I love your information
You do? How can I tell? :)
lolz
It's like an old story. The company I work for isn't laying anyone off right now, but they're certainly not hiring anyone either. In the age of affordability, some industries like Nuclear have to do more with less and those companies are noticing. It's difficult to defend a stance against hiring and knowledge transfer when you're just meeting those regulatory requirements.
It’s quite similar at my workplace
That's unfortunate, but not unexpected. I hope things improve where you work.