The US economy is on the road to a strong recovery. In May 2021, job openings hit a record high of 9.209 million, and unemployment rates have now dropped to the lowest point since the start of the pandemic.
It is clear that the tides have turned from the start of the pandemic, whereby companies were not hiring, and recruiters were operating in a client-driven market. Today, there is a strong demand for candidates, and it is the candidates who are now leading the way. Staffing agencies have a big task ahead of them to uncover talent and rise to the industry’s demands. They must seek out flexible and scalable solutions to navigate the volatility of the current market.
THE PUSH-PULL EFFECT
The US job market is witnessing an interesting pattern; companies reopen their doors to get back to business while employees simultaneously hand in their resignations looking for new opportunities.
After more than a year of uncertainty, the return to normality is creating a volatile job market. Where employees have held onto their jobs over the past year and delayed any intentions to switch careers, employees, in great numbers, are now remobilizing themselves in pursuit of a new role.
RETURN TO OFFICE TRIGGERS RESIGNATIONS
After 12 months of working from home, many Americans have grown accustomed to the remote working life. So much so that 40% of Americans would prefer to work from home full-time even after the pandemic.
With many employees now being ushered back into office life, temporary remote workers have realized there are now ample opportunities to work from home permanently and are looking to seize these opportunities. A recent survey by Gartner showed two-thirds of companies intend to move at least 5% of their roles to remote working permanently – a new way of working has clearly emerged for those office workers who prefer to be at home. Thus, there is a new opportunity for recruiters to source candidates who are seeking a more flexible working arrangement.
WHICH INDUSTRIES ARE HIRING?
Although the economy is showing solid signs of recovery, certain areas have a higher demand for workers.
Recent data shows a growing demand for education professionals, with 269,000 new vacancies being added in June. Retail, social assistance, and manufacturing are also heavily hiring.
The problem for staffing agencies is that the industries are volatile and varied, and they must respond quickly to seize these opportunities. However, agencies do not always have the required headcount or expertise to capitalize on these opportunities. Where companies are looking to hire rapidly, agencies may not have the ability to meet those needs at short notice without hiring new recruiters and training them to recruit in different industries.
THE POST-PANDEMIC HIRING SOLUTION
The US job market in 2021 is more volatile than ever. It has become apparent that staffing agencies must have the ability to flex and adapt at will and have scalable solutions to maximize profitability from fluctuations in hiring.
Here at IMS People Possible, we provide flexible and scalable recruitment solutions to staffing agencies nationwide. We are providing recruitment firms with an outsourced team of experienced recruiters, enabling you to seize new opportunities as and when they arise. Instead of going through the laborious process of employing and training permanent staff members, you gain access to a ready-made team of recruiters, ready to deliver in any industry, whether Healthcare, IT, Education, or otherwise.
Are you ready to outsource your recruitment team? Get in touch today, and a member of our team will get back to you soon.