74% of U.S. Companies Are Turning to Contract Workers for Strong Year-End Close

Over half (55%) of key decision-makers in hiring in the U.S. state that senior-level positions are the most challenging to fill. Every skill level is hard to recruit right now, but it seems that unskilled workers are a tad easier to recruit. Almost 70% of these decision-makers believe entry-roles will be easy to recruit for.

Speaking of executives, it looks like most want to return to the office. A recent survey found that 79% of executives want to return, with productivity on the top of the list of reasons why. The office is a place to decrease distractions and increase collaborations with their teams. On the flip-side, though, 74% said they are ‘most productive working from home now’ – this is up from 40% in 2019.

Labor shortages plagued almost half (47%) of companies in Q3, up from 39% in Q2. Some, 20%, reported having tons of applicants but not enough correlated candidates. Others, 27%,  reported a shortage of actual applicants. Many have an optimistic attitude though, with 36% thinking the labor shortage will improve in 2022 – 14% think it won’t happen until 2023 or even later.

To close the year out strong, 74% of U.S. companies are turning to contract workers. Many companies have critical hiring needs to hit their year-end goals and support seasonal objectives. The top three industries needing this help are technology, finance and healthcare. Companies in these industries are needing to bring in contract workers at 82%, 77%, and 74% respectively. How about those in retail, since we’re about to hit the holiday season? 71% of retail senior managers are planning to leverage contract workers.

According to Moody’s Analytics chief economist Mark Zandi, the forecast for October job growth is for it to double to 400,000 and expand to 750,000 to 1 million job in November and December.  What about ‘The Great Resignation’?  It could be over by 2023 according to this report.

Until next week,

Erin and Team BountyJobs