Many managers expect hiring to increase before the year ends, according to staffing experts in the industry. The executive search & recruitment industry has seen many highs and lows in the last few years. Fluctuations in the economy, the COVID-19 pandemic, and various other factors have contributed to this instability. As recruiting professionals prepare to close out Q4 of the fiscal year, many predict that hiring needs will increase again before 2022 is over. This belief comes from client feedback and observations of the job market.
The Reasons Why Managers Expect Hiring to Increase
Consider the following four reasons why staffing direct hire employment might increase by the end of 2022.
Full-Time Staffing Direct Hire Needs Are Increasing
One of the biggest reasons for the aforementioned prediction is simple — the need for full-time employees has been increasing steadily for a while now. Many employers were cautious about hiring full-time employees after COVID-19 and the ensuing economic fallout. The need for full-time staff is now more pressing than ever. Employers need reliable staff, and staffing direct hire agencies can meet this need by providing top talent.
The Need for Senior-Level Employees Is Decreasing
It’s also true that employers’ need for senior-level employees is decreasing. Fewer companies have been recruiting for their top positions in recent times. This fact might seem to contradict the idea that employment is increasing, but there is a correlation between these events. Many companies are shifting focus away from senior-level recruiting because their need for mid-level employees is growing dramatically. Hiring for lower-level staff is often a better investment than recruiting for top positions.
There Are Many Mid-Level Positions Available
There is a higher demand for mid-level employees throughout the U.S. These positions are often the easiest to fill because they offer better compensation than entry-level jobs. Still, they do not demand the stringent qualifications that top-tier positions would need. With so many openings to fill, many recruiters are working overtime to find talented graduates and experienced professionals to meet clients’ needs. Throughout this process, agencies should ensure that they have the right retained search professional liability insurance (E&O) to cover liabilities that may emerge.
Staffing Direct Hire Is on the Rise Again
Finally, employment rates are increasing because more businesses are seeking to hire employees directly. It might seem like a bad thing for staffing agencies that act as an intermediary for employers, but these companies can still provide valuable recruitment services. Offering to assist with recruiting will help clients find the ideal candidates. More importantly, it will ensure that agencies can retain profitability even when the staffing needs of their clients fluctuate unexpectedly. Staffing direct hire services should be an essential part of every agency’s portfolio of services.
About World Wide Specialty Programs
For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA commercial liability partner, we are committed to that partnership and committed to using our knowledge of the industry to provide staffing firms with the best possible coverage. For more information about Staffing Professional Liability Insurance or any other coverage, we have available to protect your staffing business, give us a call at (877) 256-0468 to speak with one of our representatives.