New research suggests that hiring will persist in the new year, but the war for talent could bring challenges for hiring managers.
According to a survey from The Harris Poll and commissioned by Express Employment Professionals, the applicant talent pool is expected to expand and flourish in the future. However, the biggest challenge facing employers will be retention, rather than recruiting.
Despite the vast majority of respondents stating feeling optimistic about hiring in the future, 75% say that future challenges keep them up at night.
According to hiring managers, the biggest concerns keeping anxieties high are tightened competition (35%), mismatch between prospects and company needs (29%) and accessing a diverse talent pool (23%).
For those losing sleep, 29% say it is due to the ongoing labor shortage, while 28% say they fear high turnover rates.
Filling in open positions has become tricky for employers, with 42% of respondents saying they are unable to fill openings due to a lack of applicants.
However, as the threat of a recession nears, the workforce has begun prioritizing having steady income rather than a job that meets every single one of their workplace desires. Still, offering jobs that value the wellbeing of employees will always prevail in the competition for talent.
“Fear of being stuck without a job during a recession is terrifying for the check-to-table employees,” said Greg Sulentic, an Express franchise owner. “Even those late entering the workforce after the pandemic are pressing to get in on high wages still being offered and lock in with a company before those jobs are gone.”