Few Job Cuts Expected in Latter Half of 2016, According to SHRM Jobs Survey

Confidence in job market declines as compared to 2015

Sep 27, 2016

Alexandria, Virginia – Many HR professionals are reporting that their organizations' financial health is strong and few expected job cuts in the latter half of 2016, despite a decline in confidence in the job market, according to the new Jobs Outlook Survey by the Society for Human Resource Management (SHRM).  


More than four out of five HR professionals (83 percent) had positive views of their organizations' financial health.


Also, 37 percent of respondents overall expected hiring to occur at their organizations. Large companies (between 2,500 and 9,999 employees) were the most likely to say they were adding jobs (40 percent of those surveyed) in the second half of 2016. While, 7 percent of respondents said their organizations would conduct layoffs during the second half of 2016.


However, the report also indicates that confidence in the job market has fallen among HR professionals compared with a year ago.


"HR professionals have a strategic insight into labor market conditions because of their key role in the hiring process," said Jen Schramm, SHRM's manager of workforce trends. "While 58 percent of respondents had some level of confidence in the U.S. job market, this is down from last year. However, most say that their organizations' finances are in good shape and few are expecting job cuts in their organizations as we round out 2016."


SHRM's report is based on a survey of 502 public- and private-sector human resource professionals who have a role in staffing decisions. Survey respondents represent all sizes of companies in the United States.


A summary of the findings and past surveys are available online at https://www.shrm.org/hr-today/trends-and-forecasting/labor-market-and-economic-data/Pages/Jobs-Outlook-Survey-2016.aspx. 

 


Media: For more information or to schedule an interview, contact Sundra Hominik at 703-535-6273 and Sundra.Hominik@shrm.org or Kate Kennedy of SHRM Media Relations at 703-535-6260 and Kate.Kennedy@shrm.org.


About the Society for Human Resource Management

The Society for Human Resource Management (SHRM) is the world's largest HR professional society, representing 285,000 members in more than 165 countries. For nearly seven decades, the Society has been the leading provider of resources serving the needs of HR professionals and advancing the practice of human resource management. SHRM has more than 575 affiliated chapters within the United States and subsidiary offices in China, India and United Arab Emirates. Visit us at shrm.org and follow us on Twitter and Instagram @SHRMPress. 

 

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