After reviewing recent news about recruiting and staffing trends in 2015, all signs point to growth. Below are excerpts from industry surveys and forecasts published this month (June 2015), and CBI Group President, Chris Burkhard’s response to the hiring optimism.
CFOs in the US are more confident now than they have been in years. – American Staffing Association
The 2015 CFO Outlook Survey conducted by Financial Executives International and Baruch College’s Zicklin School of Business found “67% of respondents indicated they have plans to hire at their company in the next six months, representing the highest percentage of CFOs to respond positively to this question in three years. The survey also found 77% of CFOs were not forced to reduce headcount over the past 12 months. Furthermore, 74% of respondents said wage levels they are paying are on the rise. The optimism index for US CFOs’ own businesses increased to 74.01 in this quarter’s survey, the highest reported since 2006.”
May Jobs numbers FAR exceeded expectations. – CareerBuilder
“U.S. employers added 280,000 jobs in May, which is the biggest job gain since the end of 2014 and much higher than the 225,000 jobs economists were expecting. That’s especially good news if you look back at some of the numbers from earlier this year.”
All metro areas set for job growth this year. – US Conference of Mayors
“2015 will mark the first year all 363 metro areas will see job growth since the economic recovery began, according to a new economic forecast released by the US Conference of Mayors and prepared by ISH Global Insight. The forecast also projects 316 metros, 87%, will see job growth greater than 1.0%, with only 47 areas, 13%, experiencing job growth of 1.0% or less.”
US staffing employment up more than 5% over year. – American Staffing Association
US staffing companies employed an average of 3.13 million temporary and contract workers per week in the first quarter of 2015, up 5.5% from the same period in 2014, according to data released today by the American Staffing Association. “Even with weak economic growth in the first quarter, demand for temporary and contract talent increased as businesses increased the size of their flexible and permanent workforces,” said ASA President and CEO Richard Wahlquist. “The continued growth in staffing employment means more long-term opportunities for job seekers.”
The US is projected to create 8 million jobs from 2014-2019 — a 5% increase. – CareerBuilder
“CareerBuilder has released a list of the industries expected to add jobs at an accelerated pace from 2014 to 2019… and it’s not just STEM jobs that look to have especially promising growth in the next several years. Technology and globalization continue to change the composition of the US workforce and push our economy in new directions. Based on EMSI’s data from more than 90 national and state employment resources, it appears the US is projected to create roughly 8 million jobs from 2014 to 2019 – a 5 percent increase. A significant number of industries will likely experience an even greater percentage gain during this period.
Around one-third of all U.S. industries are expected to outperform the national average for employment growth over the next five years. While it’s not surprising that technology and health care made the list, the accumulation of new jobs will take place within a diverse mix of industries requiring a broad range of skills and experience.”
The list represents 20 industries that are projected to add at least 10,000 jobs and experience 15% growth in employment over the next five years.
CBI Group President, Chris Burkhard’s response to signs of growth:
I am never more concerned than when all signs point to good times. Not to be contrarian in nature just for the sake of it. However, all of this demand, hiring and need for a contingent workforce solution will require a dramatic shift in how employers approach this “problem.” No longer can you post and pray with job boards or simply spend money to solve it. Organizations are going to need to make Talent Acquisition a strategy just like Finance, Operations, Sales and Marketing. And this time it is going to need to be foundational — pretty marketing around your employer brand or adding a few more recruiters on contract will not provide a sustainable fix. Talent strategy will need to be forever! Or until the next downturn or recession. And even then, great firms will be in a spot to take advantage of their strong position by scooping up the best talent!