According to the most recent report issued by the U.S. Labor Department, job openings in October of 2013 reached their highest point in more than five years. Despite budget-related gridlock in Washington, employers are still demonstrating confidence in the economic recovery and are expanding their payrolls as a result.
Across the country, there are now 3.9 million positions waiting to be filled, the highest reported number since 2008. This represents a 42,000 position increase since the same time in 2012, and suggests that wholesalers are about to match their growing inventory stockpiles with more staff who can help move those products out the door. Sales numbers are expected to rise across almost every manufacturing and retail sector of the marketplace, and employers are working hard to prepare for the increase.
Along with retail and manufacturing, transportation hiring will experience a dramatic increase in 2014. As the job market expands, personal spending will rise, and people will be willing to pay more for plane, bus and train tickets. Expected improvements and expansions in transportation grids across several major cities will also increase employment opportunities in these areas.
Impact on Employers
As job seekers encounter more opportunity, employers will face higher competition for top talent. Salary offers will increase for hard-to-staff positions and companies that know how to attract and retain skilled workers will experience a distinct advantage in the years ahead.
If you own or manage a growing business and you intend to expand your payroll and add more positions in 2014, you’ll need to be ready for a tight race. Now is an excellent time to review your long term staffing strategy and raise your game. As your current employees seek advancement or announce their plans to retire, you’ll need to replace them with the best talent available. Consider building an internal pipeline, or reaching outside the company for sourcing and recruiting help.
Don’t let the staffing challenges of 2014 take your company by surprise. Start now to train and cultivate your employees internally, and in the meantime, strengthen your workplace brand and start reaching out to the best and brightest new graduates in your area of the marketplace. For guidance, make an appointment with the Little Rock staffing experts at CSS. Benefit from our years of experience and our vast nationwide recruiting network.