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Welcome to 2016! If you’ve hired for your sales team lately, you’ve learned how difficult it is to find top sales latent. Most hiring managers have discovered hiring sales talent is frustrating, difficult, and riddled with career risks even in the best of times.
As we head into 2016, this year should prove to be even more difficult when it comes to attracting top talent.
With the unemployment rate continuing to decline, and the number of jobs increasing, attracting and retaining sales talent has never been more challenging.
Here’s what’s going to impact hiring trends in the United States in 2016…..
1. The US hits 323M people on New Year’s Day.
2. January 6th is the day to make sure your job advertisements are posted, polished and up to date. Monster Worldwide reported that for the last few years, the first Wednesday of the year is a high activity day for job seekers.
With more than a 70% uptick in job search activity on Monster, the first Wednesday in January is the day job searches are conducted in the highest numbers.
3. LaSalle Network, a staffing firm in Chicago reports that nearly 87% of companies intend to hire in 2016. Are you one of them?
4. Who’s recruitable in 2016? According to CareerBuilder’s most recent survey, one out of every five employees will be eager to make a change in 2016.
5. How hard is it to find the right employee? LaSalle’s survey results concludes 44% of employers are having difficulty finding technically skilled candidates and 45% are having trouble finding candidates who fit the company culture.
6. Even though the Fed is raising interest rates for the first time in almost 10 years from .25% to .5% small business owners are optimistic about 2016. SurePayroll Small Business Scorecard survey for December claims 69% of small businesses are optimistic about the economy.
7. Will hiring decisions start to accelerate in 2016? Hiring processes have slowed according to MRINetwork Recruiter Sentiment Study. Moving a candidate through the interview process has slowed down. Candidate offer rates come out 3 to 6 weeks from the first interview compared to 1 to 4 weeks in previous year’s survey.
8. Why are offers being rejected? According to the MRINetwork Recruiter Sentiment Study, offers are being rejected for two primary reasons: low compensation and counteroffers.
9. GDP growth projections have been lowered to 2.6% for 2016 from the original forecast of 2.7% by the National Association for Business Economics. With unemployment rates expected to decline to 4.7% in the final months of 2016.
10. According to the Bureau of Labor and Statistics, a division of the US Department of Labor, since December 2014, the total civilian labor force has increased by 1,691,000 workers.
If you’re thinking about hiring in 2016, let’s talk.
With this year’s uptick in optimism, hiring, and projected growth, it’ll be important to have the right sales talent on board.
Hiring talented sales professionals will be more difficult this year than ever.
Everyone will share your challenges.
Your company should have access to the best salespeople it can attract…and that you shouldn’t settle for average.
*Source from BLS Analysis, Bob Marshall and Staffing Industry Analysis: Daily News, December 7, 2015; Daily News, December 26, 2015; Daily News, December 17, 2015; Daily News, December 21, 2015; Daily News, December 28, 2015; Daily News, January 6, 2016; Daily News, January 1, 2016