Job market still hot despite Federal Reserve's inflation efforts - Silicon Valley Business Journal

  • 📰 svbizjournal
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

Companies are beefing up hiring in 2023. But they will need to move fast to snag the best candidates.

designed to weaken the job market, good workers were still hard to find. About 90% of hiring managers said it was still challenging finding skilled professionals and employers said it could take up to 11 weeks on average to hire for an open position, up from seven weeks in 2021.

Because of those challenges, about 72% of managers plan to hire more contract professionals in the first half of 2023, up from just 45% six months ago, a data point that has been echoed in other data — and showing that many workers are picking up contract work on the side and some companies are shifting to contract workers in order to cut costs or buy time until a permanent worker can be hired.

"Pressure to hire for open positions quickly can lead to hasty decisions — and mistakes. On the flip side, a drawn-out interview process or overemphasis on one or two priorities are barriers to bringing on top talent," McDonald said."Employers should aim to get a well-rounded view of candidates while remaining efficient and consistent.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 334. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Job market still hot despite Federal Reserve's inflation efforts - Dallas Business JournalCompanies are beefing up hiring in 2023. But they will need to move fast to snag the best candidates.
Source: DallasBizNews - 🏆 525. / 51 Read more »

Job market still hot despite Federal Reserve's inflation efforts - Jacksonville Business JournalMore companies are deciding to staff up in 2023 despite any worries about a potential recession.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Job market still hot despite Federal Reserve's inflation efforts - Phoenix Business JournalCompanies are beefing up hiring in 2023. But they will need to move fast to snag the best candidates.
Source: phxbizjournal - 🏆 254. / 63 Read more »