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Hiring intentions remain stable going into 2024, Robert Half says

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Dive Brief:

  • Companies intend to maintain hiring in 2024, according to Dec. 7 survey results from Robert Half; 57% of managers surveyed said they plan to add new permanent positions in the first half of 2024, while close to 40% said they anticipate hiring for vacant positions.
  • Two-thirds of those surveyed said company growth was the main factor behind their decision. More than 3 in 4 said that projects that had been held in 2023 were planned to be picked back up in 2024.
  • Retention remains a key concern, however. The vast majority of managers surveyed said retention of top talent is their top concern, followed closely by keeping teams motivated.

Dive Insight:

The survey comes as other reports are mildly less optimistic about the market in 2024.

Notably, the most recent U.S. Bureau of Labor Statistics jobs report indicated that job growth may have “ground to a halt” in most industries outside government jobs and healthcare, one economist said. The retail industry — in the height of its seasonal rush — actually reported job losses. But generally, optimism remained high in reaction to the report, with stakeholders saying that job seekers had plenty of reason to have confidence going into the new year.

And according to job site Indeed, the 2024 outlook remains a bit of a question mark. While job postings have fallen considerably since their peak in December 2021 on the platform, layoffs remain low, Indeed said in November. 2024’s outlook will depend on the state of worker demand, Indeed economists said — and Robert Half’s report indicates that hiring outlooks, at least for the moment, appear optimistic.

HR leaders may want to keep an eye on retention concerns, as managers in the Robert Half survey noted. Forrester analysts predicted an employee experience “recession” in 2024 as employers take a “less-employee centric viewpoint,” which could add to burnout woes.

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