Nearly Half of U.S. Companies Plan to Add Staff in the Second Half of 2022

The job market will remain strong for the latter part of 2022, research from talent solutions and business consulting firm Robert Half shows. 

According to the company’s “State of U.S. Hiring Survey” of more than 1,500 managers, 46% of respondents anticipate adding new permanent positions during the second half of the year; another 46% expect to fill vacated positions and only 8% foresee hiring freezes or layoffs.

Increased Demand for Contract and Early-Career Talent

Forty-five percent of managers across practice areas plan to bring in more contract professionals by year-end—especially in technology (60%) and finance and accounting (54%). In addition, 72% of employers intend to hire more entry-level or early-career professionals.

“Despite talk of an economic slowdown, many companies remain in hiring mode—and professionals with in-demand skills continue to have options,” said Paul McDonald, senior executive director at Robert Half. “In addition to staffing critical functions, employers are increasingly turning to contract talent to stay nimble while keeping projects moving forward and productivity high.”

Top Hiring Challenges and Strategies

According to the research, 88% of managers said it’s challenging to find skilled professionals, primarily due to a lack of qualified talent (38%) and candidates’ salary expectations being higher than what their company is willing to offer (22%).

In turn, employers who have the resources are using a range of recruiting tactics to win over skilled workers:

• 46% are increasing starting salaries.
• 34% are providing signing bonuses.
• 33% are offering remote options.
• 31% are evaluating candidates outside of their company’s geography and allowing new hires to live anywhere.
• 28% are loosening education, skills, or experience requirements.

Employers Brace for More Quits

More than half of managers (51%) reported an increase in voluntary turnover within their department in the last year. And nearly eight in 10 (78%) are concerned about more employees quitting. Those in marketing and creative (84%) and finance and accounting (79%) are most likely to worry about resignations from their team.

McDonald noted, “As long as the job market favors workers, staff retention will continue to be a big concern for businesses. Doubling down on employee wellbeing, empowerment and development initiatives can go a long way toward building staff satisfaction and loyalty as the market fluctuates.”

The online survey was developed by Robert Half and conducted by an independent research firm from June 17 to July 14, 2022. It includes responses from more than 1,500 managers with hiring responsibilities in finance and accounting, technology, marketing and creative, legal, administrative and customer support, and human resources at companies with 20 or more employees in the U.S.

Source: CPAPracticeAdvisor.com