Final ManpowerGroup Employer Outlook Survey of 2023 finds Net
Employment Outlooks improve in 24 countries, remained unchanged in
one, and weaken in 16 when compared to the same time last
year.
- Globally, employers expect modest hiring to continue for Q4
with hiring relatively flat year-over-year.
- The survey found the IT sector has the brightest Outlook
globally, followed by Financials & Real Estate, Communication
Services, Health Care & Life Sciences, and Energy &
Utilities industries.
- Employers cited professional development
(training, upskilling, reskilling), clear goals and
objectives, and positive work culture (including performance
recognition) as the important drivers of increased workforce
productivity.
MILWAUKEE, Sept. 12,
2023 /PRNewswire/ -- Employers anticipate closing out
2023 with a calculated approach to hiring, according to the latest
ManpowerGroup (NYSE: MAN) Employment Outlook Survey of nearly
39,000 employers in 41 countries. The research is based on survey
responses fielded July 3-31,
2023. The Net Employment Outlook (NEO) for Q4 is +30%, up 1%
from Q4 2022, and a 2% increase from last quarter.
"The data for Q4 reveals employers continue to plan measured
hiring despite economic uncertainties," said ManpowerGroup Chairman
and CEO Jonas Prising. "Globally,
employers are beginning to moderate their hiring post-pandemic with
many focused-on recruiting and retaining the business-critical
skills they need to drive growth. Those who emphasize upskilling,
reskilling, flexibility, and culture will be most competitive in
still-tight labor markets. As transformation accelerates - from
generative AI to the green transition - investing in people remains
key for companies to build resilience and agility moving
forward."
Used internationally as a bellwether of economic and labor
market trends, the NEO is calculated by subtracting the percentage
of employers who anticipate reductions in staffing levels from
those who plan to hire.
KEY FINDINGS FROM THE Q4 SURVEY
- Employers across all 41 countries report net positive hiring
intentions with Outlooks ranging from +11% to 41% for the fourth
quarter.
- Overall, the strongest hiring intentions were found in
Costa Rica (+41%), Brazil (+38%), and Switzerland (+38%); with employers in
Argentina (+11%), the Czech Republic (+11%), and Japan (+11%) reporting the least optimistic
Outlooks.
- Businesses in the IT industry continue to report the brightest
Outlook (39%), followed by Financials & Real Estate (33%),
Communication Services (31%), Health Care & Life Sciences
(31%), and Energy & Utilities (31%).
- When asked to rank the top drivers of workforce productivity,
employers point to: professional development through training,
upskilling, and reskilling (40%), establishing clear goals and
objectives for staff (37%), and cultivating a positive work culture
that includes performance recognition (36%). The lowest factors
identified: leveraging new, AI-enabled tools (18%), in-person
collaboration (19%), growing adoption of existing tech (20%).
- In evaluating candidates beyond their technical skills,
employers ranked: communication, collaboration and teamwork (39%);
accountability and reliability (33%); reasoning and problem-solving
(29%); active learning and curiosity (23%); and resilience, stress
tolerance, and adaptability (23%) as key soft skills.
- To overcome talent shortages, employers report being more
willing to hire applicants who are older and seeking employment
changes (34%), have been unemployed due to caretaking
responsibilities (27%), have non-linear career paths (27%), and/or
have been long-term unemployed (26%).
GLOBAL HIRING PLANS BY REGION
North America: Employers
are the most optimistic for Q4 with unchanged Outlooks since Q3
(+35%)
- Employers in the U.S. (+36% NEO; +1% Quarter-over-Quarter, +3%
Year-over-Year) and Puerto Rico
(+36% NEO; +1% QoQ; +4% YoY) reported increases in their Outlooks
compared to last quarter and the same time last year.
- Employers in Canada (+27%)
reported decreased Outlooks both QoQ (-3%) and YoY (-4%).
- The U.S. reports the strongest Outlook globally for the
Financials & Real Estate industry (51%).
Asia Pacific (APAC):
Hiring managers across APAC anticipate strong hiring intentions
(+32%), remaining relatively stable when compared to the previous
quarter (+1%), but weakening year-over-year (-8%).
- India (+37% NEO; +1% QoQ; -17%
YoY) and Singapore (+36% NEO; +2%
QoQ; +0% YoY) reported the strongest Outlooks.
- The most cautious Outlooks were reported in Japan (+11% NEO; -2% QoQ; +1% YoY).
Central and South
America: Regional Outlooks stand at +31%, slightly
increasing since last quarter (+2%) yet decreasing when compared to
this time last year (-4%).
- Hiring managers in Costa Rica
again report strongest intentions (+41% NEO; -2% QoQ; -10% YoY),
followed by Brazil (+38% NEO; +5%
QoQ; -9% YoY), and Guatemala (+36%
NEO; +1 QoQ; -2% YoY).
- The lowest confidence is seen by employers in Argentina (+11% NEO; +6% QoQ; +10% YoY).
- This region has the strongest hiring intentions globally for
the following sectors:
-
- Health Care & Life Sciences: Costa Rica (68%)
- Energy & Utilities: Puerto
Rico (63%)
- Information Technology: Puerto
Rico (57%)
- Consumer Goods & Services: Guatemala (48%)
Europe, Middle East, and Africa (EMEA): The region reported an
improved Outlook (+25%), moderately increasing since last
quarter (+3%) and the previous year (5%).
- The strongest Outlooks were found in Switzerland (+38% NEO; +11% QoQ; +18% YoY),
The Netherlands (+35% NEO; -4%
QoQ; +7% YoY), Portugal (+35% NEO;
+8% QoQ; +8% YoY), and South
Africa (+35% NEO; +1% QoQ; +5% YoY).
- The weakest Outlooks are in the Czech
Republic (+11% NEO; -5% QoQ; -1% YoY), Hungary (+13% NEO; +1% QoQ; +18% YoY), and
Slovakia (+15% NEO; +5% QoQ; +7%
YoY).
- The strongest hiring intentions globally for the following
sectors are found in this region:
-
- Communication Services: Switzerland (66%)
- Industrials & Materials: The
Netherlands (45%)
- Transport, Logistics, and Automotive: Switzerland (62%)
To view the complete results for the fourth quarter 2023
ManpowerGroup Employment Outlook Survey, including regional and
country data, visit: https://go.manpowergroup.com/meos. The next
survey will be released in December and will report hiring
expectations for the first quarter of 2024.
ABOUT THE SURVEY
The ManpowerGroup Employment Outlook Survey is the most
comprehensive, forward-looking employment survey of its kind,
used globally as a key economic indicator. The Net
Employment Outlook is derived by taking the percentage of
employers anticipating an increase in hiring activity and
subtracting from this the percentage of employers expecting a
decrease in hiring activity.
SURVEY METHODOLOGY
The methodology used to collect the data for the Employment
Outlook has been digitized in 41 markets for the Q4 2023 report.
Survey responses were collected in July
2023. The question asked and the respondent profile remains
unchanged. Size of organization and sector are standardized across
all countries and territories to allow international comparisons.
The survey participants are not derived from ManpowerGroup's
customer base. To protect the integrity of the data, survey
respondents remain completely anonymous
and confidential.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce
solutions company, helps organizations transform in a fast-changing
world of work by sourcing, assessing, developing, and managing the
talent that enables them to win. We develop innovative solutions
for hundreds of thousands of organizations every year, providing
them with skilled talent while finding meaningful, sustainable
employment for millions of people across a wide range of industries
and skills. Our expert family of brands – Manpower, Experis, and
Talent Solutions – creates substantially more value for candidates
and clients across more than 70 countries and territories and has
done so for 75 years. We are recognized consistently for our
diversity – as a best place to work for Women, Inclusion, Equality,
and Disability, and in 2023 ManpowerGroup was named one of the
World's Most Ethical Companies for the 14th time – all confirming
our position as the brand of choice for in-demand talent.
For more information, visit www.manpowergroup.com, or follow us
on LinkedIn, X (formerly Twitter), Facebook, and
Instagram.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements,
including statements regarding labor demand in certain regions,
countries and industries and economic uncertainty. Actual events or
results may differ materially from those contained in the
forward-looking statements due to risks, uncertainties and
assumptions. These factors include those found in the Company's
reports filed with the SEC, including the information under
the heading "Risk Factors" in its Annual Report on Form 10-K for
the year ended December 31, 2022, which information is
incorporated herein by reference. ManpowerGroup disclaims any
obligation to update any forward-looking or other statements in
this release, except as required by law.
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SOURCE ManpowerGroup