With the first fiscal cliff averted, consumer confidence up and national unemployment levels below 8%, employers across America have headed into the year cautiously optimistic. Our economy has been growing steadily (albeit slowly), and economic experts expect the growth to continue this year.
So what does all this mean, from a hiring perspective?
Employers are hedging their bets. Although demands on business will increase this year, companies are likely to remain cautious about adding permanent headcount. They will rely on staffing and recruiting companies like PrideStaff to help them capitalize on new opportunities, access specialized expertise and handle sudden surges in market demand.
Another reason that small business owners, in particular, may hold off on direct hiring is the implementation of the Affordable Care Act. Under the new legislation, companies with more than 50 employees must provide health benefits or begin paying penalties. For employers close to this headcount threshold, short-term plans for hiring may wind up on the back burner.
Competition for top talent will heat up. Candidates may be plentiful, but the demand for highly skilled workers is already outstripping supply. In fact, entire industries like social media, gaming and oil/minerals are already feeling the impact. Recruiters working for companies in these sectors are taking bold steps – becoming more aggressive about approaching workers with the right skills, whether or not it’s solicited.
To keep pace, adjust your approach to recruiting and hiring. Develop a “competitive analysis function” to monitor other businesses’ recruiting activities, as well as a market research function to track your target talent’s changing expectations. Ultimately, you may even need to hire new talent management leaders who understand how to hire in an increasingly uncertain and volatile business environment.
Employers will re-skill workers. Rather than hiring new employee, many companies will look to existing staff to close skills gaps. If their employees have a base level of skills that can be built upon, employers will proactively provide the training workers need to be re-deployed within their organizations. Due to talent shortages, re-skilling existing staff may prove more cost-effective and less risky than DIY hiring.
Partnering with PrideStaff – Your Best Hiring Strategy
Your smartest strategy for leveraging the economic growth predicted for this year? Partner with PrideStaff. If you are reluctant to add direct staff, our Workforce Growth Solutions can help you cost-effectively capture new opportunities, manage workflow peaks and staff strategically with just-in-time temporaries.
If hiring is part of your business plan, PrideStaff’s On Target fulfillment process consistently refers high quality candidates with the skills, experience and personal qualities to thrive in your organization.
Whether your needs are temporary or direct, simple or complex, trust PrideStaff to deliver the talented administrative, customer service, information technology, finance, legal support, healthcare or production & distribution staff you need.