Hiring trends looking up

Hiring Trends

A recent survey conducting by the Society for Human Resource Management (SHRM) has shown that hiring conditions for the fourth quarter of 2009 are looking positive. Despite less optimistic findings earlier in the year, the new report is boosting HR managers' morale.

The Labor Market Outlook (LMO) survey was first conducted at in the first quarter of 2009 as part of the SHRM's plans to understand how hiring trends were being impacted by the global economic crisis. More than 400 HR professionals, each in charge of managing staff issues at their respective companies, have been surveyed each quarter, culminating in a broad amount of stats on which the SHRM can use to gauge future trends.

Trends

According to the SHRM, the Q3 LMO survey showed that 47 percent of respondents said their company would not be acting on their payroll, keeping the same number of staff on the books; meanwhile, as 24 percent expected staff increases, 30 percent anticipated job cuts.

But the fourth quarter report show improved results. In fact, according to the new LMO survey, 59 percent would maintain current payroll levels, while 20 percent would be hiring and only 14 percent would cut jobs.

The findings, therefore suggest a significantly more positive hiring outlook. Jennifer Schramm, manager of forecasting trends with SHRM, explained that HR managers are "optimistic that the economy is inching towards a recovery." However, Schramm also expressed that "crafting cautious hiring plans with more aggressive recruitment should not expected until 2010."

End of year

As the run to the end of the year hots up, the renewed optimism is promising for the new year. What's more, looking back at Q3's results shows how senior execs retained their jobs more while hourly, temporary, and professionals got the pink slip.

And, with stability, strong core leadership, and low management turnover cited as the main reasons behind the cuts, the Q4 results suggest that a recovery is imminent.

Related Articles:

Why gossip can be good for you | How to win back lost talent

Like this article? Get the RSS feed: