Q3 2023 Recruiting Insights and Employment Trends Report

See CEO vs. CHRO views on talent, what to do about inflation, Fed policy and ChatGPT, and how to move from the Great Resignation to the Great Stay. Here’s your preview…

Economic outlook for employment market

Q3 brings continued uncertainty and mixed signals from the economy as a whole. In this Recruiting Insights and Employment Trends Report, we take a look at inflation and Fed policy, a key employment-based recession indicator, and dive deeper into what is happening in US industries.

Businesses continue to face persistent challenges of inflation, interest rates and a challenging labor market. These challenges are driving leaders to position their companies for stability by preserving cash and forcing them to balance short-term market needs and long-term growth.

See the full insights report for complete economic outlook.

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Top 5 recruiting insights from the quarter

The talent market like the economy is a bit divided as you will see as we cover:

  1. CEO vs CHRO views on talent and hiring.
  2. Organizations making tough decisions to deal with economic uncertainty.
  3. Moving from the Great Resignation to the Great Stay.
  4. Changing jobs still offers greater financial rewards for workers.
  5. ChatGPT and the effect it has on the job market.

Ready to explore each one? Download the full report (it’s free).

The vanishing U.S. workforce

We’ve seen improvements in the overall labor participation rate. The data, however, continues to support that both working-age men and women are choosing to leave the workforce.

This employment market trend will continue to make it difficult to identify and hire the right talent. Organizations need to recognize this and educate hiring managers on the reality of the market. Read the report on labor participation.

Labor participation for men and women shows people leaving the workforce

How RPO Supports Recruiting Capacity

Graph showing how RPO can support recruiting capacity

Solving hiring challenges outsourced recruiting support

Weathering the Talent Storm with RPO

With the uncertainty in the talent market and the overall economy, many organizations are looking for a way to build more flexibility into their recruiting function.

Being able to eliminate fixed overhead costs while having the ability to scale quickly as needed is more important than ever. Take some time to understand these market trends and consider how outsourced recruiting services can support your goals.

Make better-informed decisions on your hiring strategy

Download our latest report to learn about market factors and employment trends. Understanding what’s going on in the economy, job market and your own industry can help you make more informed decisions around your hiring strategy this quarter and beyond.

If you’d like to talk more about any of these topics, or need help developing your best recruitment strategy, we’re here to help. Let’s talk!