labor-market-will-remain-strong-in-the-us-during-the-latter-part-of-2022,-a-study-predicts

Research from talent solutions and business consulting firm Robert Half indicates that the US labor market will remain strong during the latter part of 2022 .

According to the Hiring Survey carried out on 1,500 managers, the 46% of respondents anticipate adding new permanent positions during the second half of the year; another 46% expects to fill vacant positions and only 8% anticipate hiring freezes or dismissals.

“Despite talk of an economic slowdown, many companies are still in hiring mode, and professionals with in-demand skills continue to have options,” said Paul McDonald, senior managing director of Robert Half.

According to the analysis, there will be greater demand for contracts and talent at the beginning of the career : 45% of managers in all practice areas plan to add more contract professionals by the end of the year, especially in technology (60%) and finance and accounting (54%). While 72% of employers intend to hire more entry-level or early-career professionals.

“In addition to critical staffing functions, employers are increasingly turning to hiring talent to stay agile while keeping projects moving forward and productivity high,” added Half.

According to the research, the 88% of managers said that it is a challenge to find trained professionals, mainly due to the lack of qualified talent (34%) as the salary expectations of the candidates are higher than what your company is willing to offer (10%).

A In turn, employers with the resources are using a variety of recruiting tactics to win over qualified workers, for example:

– The 45% is increasing wages ini cials.
– The 34 % offers signing bonuses.
– The 34% offers remote options.
– The 28% is evaluating candidates outside the geography of your company and allowing new employees live anywhere.
– The 28% is relaxing the education, skills or experience requirements.

The consultant also found that more than half of the managers (46%) reported an increase in volunteer turnover within their department in the past year. And almost 8 out of (78%) are concerned that more employees will quit.

Those in marketing and creativity (84%) and finance and accounting (79%) are more likely to worry about their team leaving.

“As long as the labor market favors workers, staff retention will continue to be a big concern for companies. Doubling down on employee wellness, empowerment, and development initiatives can go a long way toward increasing staff satisfaction and loyalty as the market fluctuates,” McDonald said.

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By Scribe