Magazine article HRMagazine

Steady as She Goes

Magazine article HRMagazine

Steady as She Goes

Article excerpt

Few are better positioned than HR professionals to assess the current economy and give us a sense of where we're headed. According to results from the latest annual Society for Human Resource Management (SHRM) Jobs Outlook Survey, which polled public- and private-sector human resource practitioners, the outlook is mostly positive. While their confidence in the job market has fallen compared to a year ago, most respondents said their organizations' finances are in good shape and few expect job cuts as 2016 comes to a close.

Job growth over the first half of 2016 was fairly strong, with 43 percent of HR professionals surveyed by SHRM saying that their companies added jobs during that period. Another 41 percent maintained staffing levels, and 16 percent reduced head count. The main reasons organizations held off on hiring were because business was not expanding; because improved efficiencies reduced the need for staff (through technology, automation or other business process improvements); and due to economic volatility/uncertainty.

Despite that unpredictability, activity in the labor market throughout the second half of 2016 will likely hold steady. Nearly 40 percent of respondents expect their companies to hire new workers during this period, and less than 10 percent anticipate a reduction in head count. Meanwhile, 58 percent had some level of confidence in the U.S. job market for the second half of 2016, including 13 percent who were "very optimistic" about job growth. (HR professionals in government were the most confident in the strength of the job market; those in publicly owned, for-profit organizations had the least faith. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.