Companies plan to maintain steady hiring in 2024, focusing on adding positions and filling vacancies
New research from Robert Half indicates that companies will maintain a steady pace in hiring for the rest of 2024.
The company's State of Canadian Hiring Survey shows that 52 percent of companies plan to add new permanent positions in the second half of the year, down slightly from 54 percent in the first half.
Additionally, 41 percent of companies plan to fill vacated positions in the second half, a slight increase from 40 percent in the first half.
The survey also highlights that 5 percent of companies do not intend to add new positions or fill vacated ones in the second half, compared to 4 percent in the first half. Meanwhile, 1 percent of companies plan to eliminate positions, consistent across both halves of the year.
Top factors influencing these hiring decisions include company growth (50 percent), employee turnover (41 percent), project-based work requiring skilled professionals (39 percent), and a lack of requisite skills among current employees (38 percent).
Despite the positive hiring outlook, challenges persist. Ninety percent of hiring managers report difficulties in finding skilled professionals.
Thirty-two percent anticipate it will take longer to hire between now and the end of 2025 than it did in the first half of 2024, while 45 percent expect it to take the same amount of time.
Managers also face other top hiring challenges, such as a lack of applicants with the required skill sets (51 percent), finding candidates who align with company culture (49 percent), hiring quickly enough to secure top talent (46 percent), and meeting candidates' salary expectations (46 percent).
Koula Vasilopoulos, senior managing director of Robert Half Canada, notes, “Hiring challenges and subsequent lengthy hiring cycles can significantly impact projects and business priorities. Employers need strategic hiring strategies to attract talent and keep projects on track.”
To attract top talent, managers are becoming more flexible by considering candidates with the required skills but less experience (59 percent), offering hybrid work options (39 percent), and providing flexible schedules (37 percent).
Vasilopoulos emphasizes, “Flexibility continues to be a major priority for professionals, and offering some autonomy over when and where team members work can give companies an edge in securing top talent.”
