The 2016 Hiring Outlook

With a healthy economy, companies are ramping up hiring extensively over 2016.

A survey conducted by Ivy Exec of HR professionals in multiple industries revealed that 56% of employers expect to make more hires in 2016 than they did in 2015.

“Job growth is directly correlated to a healthy economy,” says Sara Farkas, Director of Strategic Development, Management Consulting for Ivy Exec, “and we are seeing a trend in companies on-boarding more sales and marketing professionals in particular in late 2015 and into this year.”

And the economy is not the only factor that affects hiring trends. “Health Reform continues to impact everyone from Payer/Providers to Life Science companies. This is an incredibly dynamic time for the Healthcare industry. The changing landscape has created a demand for specialized consultants in this sector,” said Farkas, “as a result, Ivy Exec is helping many consulting firms recruit from the small pool of candidates within this space.”

What ultimately happens is that companies begin fighting for the same candidates. In fact, 65% of those surveyed believe it is currently a job seeker’s market. This competition is providing job seekers with more options, and also forcing employers to offer more attractive packages to candidates.

How Companies Are Reacting

Roles have reversed, as companies are now competing for qualified candidates. Only 43% of those surveyed have been able to hire 75% of those they send offers to, so companies have had to expand their search to make hires. “Over the past year, there has been a noticeable increase in companies’ willingness to offer relocation assistance to highly-qualified candidates,” said Farkas, “but the greatest change by far is the increased trend of the ‘virtual office’. The modern day job seeker is interested in the option of working from home, and more companies are starting to offer this as an option to attract top talent.”

Smaller companies that can’t offer compensation packages that match those of their big-name competitors will need to attract candidates in other ways including: flexible work arrangements, greater responsibilities and freedom, and potential for rapid growth within the company. Even so, for smaller companies, “Compensation requirements will continue to increase” said one survey respondent.

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