60% of companies said they need more employees to manage their workload
According to poll data released by Express Employment Professionals, companies are becoming more hesitant to hire amid worries about a possible recession and other concerns.
Nancy Reed, an Express franchise owner in Texas said: “In our market, the big fear is a recession. Businesses aren’t confident in the future, and recession talk has employers waiting to see what will happen next.”
According to Reed, employers have been tolerating more absenteeism, tardiness and less experience, but that is changing.
“Now, they are holding off to see what happens,” she continued. “Managers will hire that skilled employee who is ready to come back but are holding off hiring any extra help until they see what will happen with the recession.”
Businesses aren’t panicking yet, but there are signs of cautious hiring, said Chris Cary, an Express franchise owner in Virginia.
Cary said: “In one of our markets, we are not seeing this rear its head dramatically at the moment, but in speaking with business owners and leaders, there is a sense of what is around the next corner with inflation and chatter of a recession.”
According to a poll by Express Employment Professionals that took place in May, 60% of companies said they need more employees to manage their workload but don’t have the capacity to hire them. Of those who lacked the bandwidth to hire additional employees, 48% reported it’s because their company is adjusting its recruiting/hiring strategy. In addition, 42% said their company is waiting to see if the workload will level out before hiring additional employees.
Other concerns: 32% said upper management has not approved hiring of additional staff, and 32% do not have enough money in the budget this year to hire additional staff.
The survey was conducted on behalf of Express Employment Professionals by The Harris Poll and took place between May 3 and May 23. It included 1,003 US hiring decision-makers.