News
June 21, 2024Alaant Workforce Solutions Spring 2024 Hiring Index Reveals Strong Job Market for Capital Region
Amidst ongoing economic challenges, employers in the Capital Region remain positive about their hiring outlook, with 77% expressing no concern that the economy will impact their hiring plans, according to the Spring 2024 Alaant Hiring Index released by Alaant Workforce Solutions this week.
Alaant Workforce Solutions presented the survey results at an exclusive event attended by area business professionals. Attendees also heard insights from a panel of regional experts, which included:
- Jordan Steller, Founder & Principal Consultant, Steller Insights
- Jessie Zweigenthal, Director of Employee Engagement, Jahnel Group
- Jason Benitez, Vice President, Diversity, Equity & Inclusion, Capital Region Chamber
Survey findings indicate a positive sentiment towards job growth in 2024, with 68% of respondents optimistic or very optimistic. Additionally, 49% of companies reported increased hiring year-to-date compared to 2023, with 41% noting an increase of 10-25%. Despite this growth, 66% of employers foresee hiring as challenging or significantly challenging in the next six months, citing a skills gap (35%), labor shortage (23%), and salary/wage demands (19%) as primary obstacles.
To address these challenges, 57% of companies are enhancing salaries and offering additional financial incentives to attract and retain talent.
The prevalence of remote and hybrid work remains consistent with last year, with 44% of employers offering hybrid options and 55% not offering hybrid work. Additionally, 72% indicated transitioning to a 4 day work week would not be practical for their current business model.
“At Alaant Workforce Solutions, we are encouraged by the 2024 Hiring Index results, which show a positive outlook as hiring continues to rise. However, it’s crucial for companies to remain creative and address current trends to stay an employer of choice. While hiring is up, finding top talent remains a significant challenge. We’re here to support Capital Region employers with the guidance and solutions needed to achieve their staffing and workforce goals.” said Miriam Dushane, Managing Partner at Alaant Workforce Solutions.
