Most Firms Intend to Boost Hiring Within a Year

Los Angeles — Oct. 5

Prior to the September job increase reported by the Bureau of Labor Statistics — which showed the economy added 114,000 private-sector jobs for the month — a new executive survey found that 58 percent intend to increase hiring at all levels within the next year.

Yet 69 percent are waiting for resolutions on the fiscal cliff or the European financial crisis. The survey was fielded from Sept. 28 to Oct. 3 by talent management services provider Korn/Ferry International.

Despite future hiring intentions, results revealed broad-based hiring is stagnant.

While 26 percent responded that they are currently hiring, 25 percent said they are either thinking about laying people off or in the process of laying people off. Forty-nine percent said they were holding the line and remaining status quo.

The two top outside factors creating a pause in hiring are the prospect of the United States fiscal cliff, as cited by 39 percent of respondents, and EU economic instability, with a 30 percent response.

Nineteen percent of executives said that the U.S. lowering its corporate tax rate would make them prone to increase hiring.

Source: Korn/Ferry International