Executive Search and Hiring Trends for 2012

July 4, 2012 by  Filed under: Management 

With the economy having been in such a state of fluctuation over the past several years, with many organizations struggling to keep up with the turbulent business market, naturally there has been an equally difficult strain put on companies’ hiring practices as a result. Here then is a list of the top four hiring projections executive search firms have identified for 2012, in hopes that they may help guide companies employment strategies through the remainder of the year.

1. Competitive Compensation on the Rise

While the rate of compensation has always been a major topic when it comes to hiring practices and employee retention, and this has only become more important given the shifting nature of the economy and its effect on the hiring of high quality candidates and employees. While the subject of compensation may sound like a fairly obvious, for some reason, a number of employers have failed to meet this demand in the past. However, a recent study has shown the nearly two thirds of employers have made plans to begin increasing salaries for current employees this year, with roughly one third have said that they will by boosting compensation for new hires. This study also showed that this increase in compensation will be seen most in those positions which generate the greatest revenue, such as business development, IT, engineering, and sales.

2. A Dramatic Increase in Voluntary Turnover

Even at the best of times employee turnover can be a difficult issue to deal with, as it requires that the company begin conducting executive search and hiring efforts to fill those vacant positions. To help avoid these issues, companies have always needed to consider their employee retention efforts, and this need has never been greater than it is now. Last year a third of all employers who participated in one survey reported a noticeable increase in voluntary employee turnover, with nearly half of those polled stating that they fear these numbers will only rise over 2012.

3. More Training Opportunities

Yet another frequently recognized key in any strong employee retention plan, now shoeing itself to be of increased importance this year, is the subject of employee training. While traditionally the reasoning has been that employers should always seek out candidates who fit a position perfectly and should not require any additional training to fit the bill, given the currently high demand for quality candidates and the low supply, perhaps it’s time that this old rule was changed. More than a third of employers have said that they plan on providing training for strong candidates who may be lacking the necessary skills and knowledge needed for a given position.

4. Expanding Employee Demographics

Recent surveys have also shown that nearly a third of employers will be focusing their hiring efforts on diversification throughout 2012.This will focus on the hiring of minorities and women as companies have become more aware of the benefits represented by diversification in the workplace.

The hiring process has always been a difficult issue to keep up with, and never more so than during such times of economic discourse as we have seen over the last decade. Thankfully, projections are good for the growth and stability of the economy for the remainder of 2012, meaning now is the time for employers to take advantage of this lull to bolster their employee vase

” Maurice Gilbert founded Conselium in 2001 and serves as the Managing Partner. Conselium is an Executive Search Firm that offers a more personalized executive search solution for companies in search of Compliance, Regulatory Counsel and Audit professionals. For more information please email Maurice at maurice@conselium.com or visit the website at http://www.conselium.com “

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