As optimism continues to rise about the economy, the labor market is manifesting the positive trend with an improved employment outlook. According to TalentKeepers 9th Annual Employee Engagement and Turnover Trends Report, 51 percent of employers report that they plan to hire additional staff this year while 31 percent plan to remain stable. Just 19 percent of respondents said that they anticipate reducing staff in 2013.
“Over a four year period, companies reported a consistent decline in plans to downsize or reduce staff, from 43% in 2010 down to 21% for 2013,” Christopher Mulligan, CEO of TalentKeepers, said. “Also, more companies are stabilizing major business strategies as well as human resources practices, such as compensation and benefits, showing less urgency to react to changes in the economy and a greater focus on executing current plans,” he added. For all reporting firms, 11% forecast “significant increases” in hiring for 2013.
The report also highlights companies ranked in the top 10 percent of the “Best in Class” bracket and discusses how they engage and retain employees. Such data is more frequently being used to guide business growth and acts as key performance indicators. The final report is available by request and will become available in early April.