The Bureau of Labor Statistics (BLS) projects that employment in the United States will increase 10.8 percent between 2012 and 2022, adding over 15.6 million jobs to the economy. Healthcare-related occupations and industries are expected to add the most jobs, although nearly every economic sector will be affected by the need to hire more people.
With eight years left to go in this projected “hiring decade,” many employers are wondering how the changes will affect their hiring and staffing plans. Working with an experienced recruiter who knows your industry and your local economy can help your organization plan ahead, so you’ll be able to reach the right candidates when you need them.
How Will Employment Change Over the Next Decade?
Although growth in jobs can be difficult to predict, the Bureau of Labor Statistics estimates that the workforce in the U.S. will increase by about 0.5 percent per year between 2012 and 2022. This growth rate is slightly slower than the actual growth rate in the previous decade, which reached 0.7 percent. Workers age 55 and older are expected to make up 25 percent of the labor force by 2022, as older workers stay on the job rather than retire early.
Although employment is expected to increase by 10.8 percent overall, not all industries will add new jobs at the same rate. The BLS expects service industries to grow more quickly than construction, manufacturing, agriculture, and federal government staff members.
What Do These Numbers Mean for Our Hiring?
A growing economy can affect a company’s ability to hire in many ways. As more jobs become available, the pool of top candidates shrinks, making hiring tougher and more costly. To face the challenges of economic growth head-on, consider these tips:
- Offer a strong EVP. Your employee value proposition, or EVP, is the total value you offer employees. Think of it as the package of reasons your employees like to brag about where they work, and build your employment “brand” around your EVP.
- Connect. Use social media sites like LinkedIn, as well as more conventional opportunities like conferences, to keep your organization engaged in your industry and community.
- Work with a recruiter. One of the many services your staffing partner can offer is the chance to connect with “passive” job candidates – top employees at other companies who aren’t actively looking for work, but who will gladly change jobs if the right opportunity comes along.
At TERRA Staffing, our experienced recruiters work closely with our clients to ensure we find the right people, now and for years to come. Contact us today to learn more!