While the job market may not have moved as quickly as many would have wished in 2013, it certainly improved. The U.S. Bureau of Labor Statistics showed 186,300 jobs were created per month on average from January to October of this year, up from 172,700 during the same period in 2012 and 169,900 in 2011. November showed additional gains of 203,000 jobs. The Society for Human Resource Management’s Leading Indicators of National Employment report showed service-sector hiring surpassed the 2012 rate for 11 out of 12 months for the year, and the same was true for manufacturing eight months of the year.
With a definite upward trend in employment throughout 2013, many analysts are predicting a healthy job market in 2014 as well. Human resources professionals must take note and prepare themselves and their companies for what may be a year with many acquisitions of talent. Companies that are on the fence about hiring may wish to investigate this trend and perhaps get on board themselves.
With a coming surge in hiring in mind, human resources leaders need to make sure their recruiters and hiring managers are up to speed on today’s best practices and most effective procedures for talent acquisition. In an increasingly digital and mobile world, virtual recruitment strategies for both computer and mobile-device websites have to be strong. Additionally, any personnel involved in hiring should be tested on legal compliance issues to ensure they remain up to speed.
The improvements forecasted in the job market are good news for the vast majority of the workforce. Right Management, a subsidiary of ManpowerGroup, found 83 percent of U.S. and Canadian employees surveyed intended to look for a new position in 2014, and an additional 12 weren’t sure but were updating their resumes and networking in case they decided to seek a new job. Only 5 percent had solid plans to remain with their current employers.