Labor Shortage, Employee Turnover and Benefits Demands Keeping Employers Up at Night

Labor Shortage, Employee Turnover and Benefits Demands Keeping Employers Up at Night

Labor Shortage, Employee Turnover and Benefits Demands Keeping Employers Up at Night 

 85% Expect to Face Hiring Challenges in the Next Year - Latest Results from The Harris Poll

While a majority of U.S. hiring managers feel positive about their company’s hiring outlook, 85% still expect challenges over the next year with 75% saying it keeps them up at night.   

This is according to a survey from The Harris Poll commissioned by Express Employment Professionals.  

Pertaining to more general hiring difficulties, hiring managers worry about increased competition in the job market (35%), available talent pool not matching the company’s needs (29%), reaching diverse candidates (23%) and difficulty assessing candidates’ skills during the hiring process (23%). 

But as to what is causing these decision makers to lose sleep, 3 in 10 say the labor shortage continuing (29%), increases in employee turnover (28%), increased demand from candidates for better benefits in order to accept a job offer (27%) and an inability to fill open positions (27%) are among those late-night fears. 

For some, the inability to fill open positions is not just a fear for the future, but a current problem they are actively trying to solve, including many hiring managers (42%) who say their company currently has open positions that they cannot fill. Corresponding with the top hiring challenges companies face, those with open positions report they are not filled due to a lack of applicants. This includes applicants with hard skills (39%), relevant experience (38%), soft skills (36%) and/or applicants in general (34%). 

Demand for top talent is still incredibly high and even if all the other pieces fall into place, such as sufficient product and demand, businesses can’t operate without workers, according to Express Employment International CEO Bill Stoller.  

“With some promising signs of inflation easing and more job seekers entering the picture, my hope for the new year is that employers can finally catch a break and get a good night of rest after the tumultuous past two years,” he said. 

Survey Methodology 

The survey was conducted online within the United States by The Harris Poll on behalf of Express Employment Professionals between May 3 and May 23, 2022, among 1,003 U.S. hiring decision-makers (defined as adults ages 18+ in the U.S. who are employed full-time or self-employed, work at companies with more than one employee, and have full/significant involvement in hiring decisions at their company). Data were weighted where necessary by company size to bring them into line with their actual proportions in the population. 

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The Irvine Express office is located at 13700 Alton Parkway, Suite 156 Irvine, CA 92618 and serves the Irvine, Tustin, Lake Forest, Foothill Ranch, Mission Viejo and Rancho Santa Margarita marketplace. Local businesses and applicants are encouraged to get in touch at their convenience. Call 949.583.7400 or visit www.expresspros.com/irvineca/.