Alaant Hiring Index: Capital Region Employers Continue to Experience an Increase in Hiring in 2023
More than half of employers have experienced a hiring increase in 2023 compared to the previous year
58% of participating employers expect hiring to continue for the rest of 2023
ALBANY, N.Y. – In the midst of public fear and discomfort as it pertains to a potential national recession, Capital Region employers’ express optimism of the current and future workforcelandscape, with 75% of employers revealing no concerns about a recession reducing their hiring plans, according to an annual survey conducted by Alaant Workforce Solutions.
Today, Alaant Workforce Solutions released their Hiring Index, which is based on a survey conducted this spring, that generated responses from 109 employers: 35 companies with 201 or more employees, 25 companies with 11-50 employees, 18 companies with 1-10 employees, 17 companies with 101-200 employees, and 14 companies with 51-100 employees.
Alaant Workforce Solutions unveiled the results of the survey at an exclusive in-person event, in which the more than 50 attendees also heard from a panel of regional experts who weighed in on the findings, while offering valuable insights that will help employers to stay ahead of the curve.The panel included the following:
• Aileen Flach, VP of Human Resources at DeCrescente Dist. Co., Inc. Distributing Co.;
• Matt Grattan, Workforce Development Manager at Plug Power; and
• Nick Sestito, Managing Partner of T&J Electrical Associates.
When asked about 2023 thus far and the rest of the year, 63% said they are optimistic or very optimistic about job growth, with 37% being unsure, and no participants being pessimistic about it. Another finding from the survey included, 46% of companies who say that hiring has increased over the last six months, also say hiring has increased by 10%-25%. However, when asked about whether the next 6 months will be challenging or not with regard to hiring, 61% stated that it would be challenging or very challenging. The biggest challenges affecting hiring within organizations is the lack of individuals within the workforce (31%) as well as the increasing salary demands by potential candidates (31%).
In an effort to combat both the biggest challenges surrounding hiring, 70% of employers are increasing salaries and offering additional financial incentives to attract and retain employees.
Another incentive that employers are offering, while hesitancy still prevails, is the continuation of remote and hybrid work options. While 37% of employers stated that remote and hybrid work hasn’t changed the ability to hire and retain employees, 46% say that they are not open to hiring remote employees in order to fill job openings. Subsequently, 57% of organizations expressed that their current remote and hybrid policies will remain in place – incentivizing current and potential employees with flexibility.
“These survey results paint an encouraging picture of the current job market. Despite facing challenges, organizations are demonstrating resilience and adaptability, with robust hiring trends and a positive outlook for the future,” said Miriam Dushane, Managing Partner at Alaant Workforce Solutions. “At Alaant, we are excited to continue supporting organizations in navigating the changing landscape and look forward to another productive year of continued job growth.”
Launched in 2015, the Alaant Hiring Index is the exclusive measure of the Capital Region’s job market, used by organizations across a wide range of industries to inform their recruiting strategies.
Over the past decade, Alaant has helped more than 400 Capital Region companies attract, acquire, engage and retain over 4,000 elite employees through its innovative practice areas, such as Talent Acquisition Partnerships and Employer Brand Strategy. Alaant has been recognized by Forbes for five consecutive years (2017 through 2021) as one of America's Best Recruiting Firms; has received the Best of Staffing® Client Award and Best of Staffing® Talent Awardfrom ClearlyRated for the past 7 and 5 years, respectively; was selected by HR Tech Outlook as one of the nation’s Top 10 Employer Branding Consulting/Services Companies for 2019; and was named by NYS-SHRM in 2020 as one of the Best Companies to Work for in New York.
For more information, visit www.alaant.com.