Businesses generally optimistic about the fourth quarter employment market; recruiting skilled workers and employee retention remain top challenges.
To provide accurate and timely employment forecasts for business leaders, Express Employment Professionals International Headquarters conducts an ongoing Job Insights survey to track quarterly hiring trends across a wide range of industries.
Express surveyed business owners, decision makers, and human resource professionals about the overall hiring trends in their markets and how those trends impact their hiring decisions.
Employers remain generally optimistic about the employment market for the fourth quarter of 2019
Eighty-nine percent (89%) of survey respondents said their employment markets are either “trending up” (40%) or “staying the same” (49%) for the fourth quarter of 2019. Only 11% forecast a downward trend in employment activity. Additionally, 93% do not plan to eliminate any positions within key segments in the fourth quarter.
The top 5 segments hiring in the fourth quarter of 2019 include
- General Labor (Industrial): 34%
- Skilled Labor (Industrial): 28%
- Administrative/Office Clerical: 18%
- Accounting/Finance: 7%
- Engineering: 6%
In a strong employment market that favors job seekers, effective recruiting and retention practices are key differentiators for businesses.
There’s a new normal in today’s employment market. Recruiting and retaining top talent requires a more strategic approach when job options for talented, skilled workers are plentiful. That means job seekers can afford to be picky about the benefits and pay they want.
Top factors that stop candidates from accepting a job offer:
- Not the perfect fit: 26%
- Low pay: 25%
- Lack of benefits: 12%
- Lack of advancement/opportunity: 10%
- Inflexible schedule: 10%
Top factors that cause employees to leave their companies:
- Lack of advancement/opportunity: 21%
- Low pay: 21%
- Not a good cultural fit: 18%
- Difficult schedule: 11%
- Lack of transportation: 11%