In the next year, nearly three quarters of firms plan to increase the number of full-time employees and more than half of companies plan to increase the number of temporary hires, on a global level, according to the recent global PRO survey.
The Global Trends in Pro & Talent Recruitment 2014 report provides a comprehensive overview of the latest trends and insights from the international business community about jobs, skills development and recruitment. Kelly Outsourcing and the Consulting Group (Kelly OCG) which prepared the report, drew the views of senior hiring managers from small, medium and large organizations from the U.S., Europe, Middle East and Africa and the Asia Pacific region to generate key trends and predictions in the global labour market for the year ahead.
I outline some of the key global hiring trends that will dominate in 2014.
Hiring Will Grow Further
Hiring appears strong for the coming year, both for internal permanent labour as well as contingent hires. Almost three quarters (73%) of companies surveyed plan to increase the number of full-time hires in the next 12 months and 57% plan to increase the number of temporary hires. These numbers show robust hiring growth will continue across the globe in the coming year—despite reported high levels of unemployment.
Demand for Talent Will Increase in Specific Regions and Sectors
The report notes that companies are challenged by critical shortages of key talent across the globe. It is predicted that severe talent shortages in certain regions will define the next decade. For instance, in the developed Asian economies, the demand for talent in the business services sector will exceed 50%, while the demand for talent in life sciences in the same region will rise by only 8.2%. It is anticipated that North America’s energy sector will need a 22.7% bigger workforce, whereas the demand for talent in financial services will fall by 8%.
More Companies Will Outsource Recruitment
Given the competitive landscape for attracting quality talent, it is anticipated that firms will increasingly turn to recruitment agencies to recruit potential hires in the next year. 58% of the companies plan to use third-party recruiting firms to engage hires. Of those using recruitment firms to augment recruiting needs, the most common applications include sourcing, screening and testing (86%), applicant and recruitment performance tracking (45%) and reference checking (43%). What’s more, 50% of companies will use a third-party recruitment firm to hire professional staff and 36% to hire contingent labour.
Overall, for many global companies recruiting the right talent at the right time is a paramount factor driving growth and innovation. Firms increasingly rely on outsourcing particularly to access niche expertise that is too difficult or too expensive to develop in house. Given, the projected strong surge in hiring and the competitive environment for attracting high-level talent, it is expected that organizations will look even more to external recruiting partners to boost their own potential or fully outsource the recruiting function in the coming years.