The weather may not be the only thing heating up this summer. According to an employment survey by the Society for Human Resource Management (SHRM), hiring could hit its highest levels since 2007 in May and continue its hot streak through the summer!
SHRM’s monthly LINE (Leading Indicators of National Employment) Survey compiles responses from human resources personnel at 500 manufacturing and 500 service sector companies. Those two sectors account for 90 percent of the nation’s private sector jobs. The survey focuses on four main areas: hiring expectations, new-hire compensation, recruiting difficulty, and job vacancies.
According to the May report, 54.5 percent of manufacturing companies surveyed plan to hire in May, which is the highest hiring level in that sector since October 2007. The service sector is also expected to hit highs not seen since June 2007, with 61.8 percent of companies surveyed saying they plan to add jobs in May.
A small percentage (8.8% of manufacturing companies and 10.4 percent of service sector companies) surveyed also reported difficulties finding top talent. While the numbers are small, it’s still a sharp contrast to a year ago when only 3.3 percent of manufacturing and 4.9 percent service sector employers reported having trouble recruiting and over 20 percent in both sectors reported having less trouble finding talent. This struggle may not be good news for employers, but it could mean that these companies will soon be seeking out the help of professional recruiters to aid their searches for top talent.
Considering that summer is already a prime time for certain employers to hire seasonal workers, this summer could prove to be a fruitful one for contract recruiters!
