Hiring managers say they’re implementing proactive strategies to reach the best talent and stand out from other companies, a new report showed.
Published Aug. 2, 2024 By Carolyn Crist
Hiring will keep pace for the rest of 2024, with 52% of U.S. companies planning to add new permanent positions and 43% planning to fill open positions, according to a July 30 report from Robert Half, a talent solutions and business consulting firm.
To reach talent, hiring managers said they’re proactively offering hybrid jobs (41%); windowed work, permitting teams to work outside of normal hours (41%); and higher starting salaries (38%).
“Today’s workers are more selective when it comes to making a career move,” Dawn Fay, operational president of Robert Half, said in a statement.
“While hiring remains a priority, employers shouldn’t lose sight of their current workforce,” she added. “Skilled talent is still in high demand, so it’s crucial to prioritize retention strategies to keep your best employees on board.”
In the survey of 2,500 hiring managers, 4% said they wouldn’t address vacated positions, but no respondents said they planned to eliminate positions.
The top factors influencing hiring decisions included company growth, employee turnover and project-based work requiring skilled talent, per the survey.
However, 86% still reported hiring challenges, such as a lack of applicants with the required skills, not hiring quickly enough to land the best talent and an inability to meet candidates’ salary expectations. In response, 62% of hiring managers said they’d be willing to reconsider their requirements for years of experience if a candidate had the necessary skills for the role.
Budget constraints may also hinder hiring during the second half of 2024, according to an Express Employment Professionals report. Although most hiring managers expressed a positive outlook for hiring, they voiced concerns about money, automation and new technology.
Amid labor market challenges, though, HR leaders say recruitment and retention challenges have somewhat eased in 2024, according to a survey from The Conference Board. Flexible work arrangements have helped, while on-site mandates have driven some employees away, HR pros said.
Employee retention continued to increase during the second quarter of 2024, building on a first-quarter jump and signaling lower attrition for the rest of the year, according to an Eagle Hill Consulting report. Retention numbers reached the highest point in 18 months and surpassed the previous high from the first quarter of 2023.
