While many employers reported an increase in hiring over the last year, finding qualified talent has been a challenge. According to a 2014 Economic Conditions Survey – Overall Financial Health and Hiring, a majority of organizations are trying to fill jobs that require new skills. The survey was conducted by the Society for Human Resource Management (SHRM) of over 3,300 HR professionals in nine industries.
About one-half of the hiring employers reported that new skills are required because of technology changes, new products, and company growth. Sixty-six percent of employers reported that they are hiring for brand new positions, and approximately one-half of the survey respondents are having difficulty finding the right talent.
Manufacturing reported the most difficulty in recruiting followed by the high-tech industry. The reasons given include lack of technical skill and necessary work experience. To enhance recruiting efforts, 54 percent of employers have used social media, 48 percent have begun working with educational institutions, and 41 percent have increased advertising.
Other findings included:
- 64 percent of organizations hired military veterans, compared to 58 percent in 2012
- 39 percent of employers have increased pay rates, and 33 percent provided bonuses in the last year
- 80 percent reported that their organization was in good to excellent financial condition
Contact MSEC for assistance if you are having trouble finding qualified job candidates.