We’re just over halfway through 2022, and if employers hoped the job market would improve by now, they have to be disappointed. Our latest Alaant Hiring Index, an exclusive survey of HR and hiring managers from companies across a variety of sizes and industries, shows the recruiting challenge is tougher than ever.
It’s a conundrum, to be sure: 73% of employers told us they’ve increased hiring this year, and 65% say they expect to continue through the end of the year. Unfortunately, the current employment market is being less than cooperative. Here are 5 takeaways from the index that paint a picture of the current recruiting environment.
1) The hiring challenge is as difficult as we’ve seen. An overwhelming number of employers – 87% – characterize hiring as either a significant challenge or challenging. That’s the highest percentage we’ve recorded since the Alaant Hiring Index was launched in October of 2015.
2) Don’t expect the situation to get better anytime soon. Asked to look out on the horizon, employers don’t see things changing in the near future. Only 12% expect recruiting to improve over the rest of the year, which is the lowest level we’ve seen in more than two years.
3) Employers are trying hard to find solutions. Are they raising salaries? Yes, say 82% of employers. Have they streamlined their recruiting process? Yes, say 86% of employers. Even those measures aren’t yielding significant results.
4) Most employers are resisting hiring remote and hybrid employees. Only 42% say they’re actively considering remote workers, and just 46% say they’d be more open if those employees lived locally. It seems strange, since 92% of employers with most staff working either remote or hybrid schedules report no loss in productivity.
5) Despite the challenge, employers remain optimistic about the future. Amid the difficult recruitment market, employers are not throwing in the towel. In fact, 66% say they’re either optimistic or very optimistic about job growth for the rest of 2022, which is consistent with expectations at the start of the year.
How can employers get a leg up in the competition for top talent? It starts by being creative when it comes to hiring. While higher pay and an expedited hiring process are a great start, there is much more that can be done to attract strong candidates. Offering flexibility, prioritizing work-life balance, and exploring remote and hybrid workers can get the ball rolling, and the expert team at Alaant can drill much deeper. Interested in learning more? Contact us today and let’s get the conversation started!
