Employers Plan to Remain Conservative on Hiring in 2010

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Published in World at Work December 7, 2009
Despite signs of economic recovery, many employers plan to maintain a conservative stance well into 2010, with 31% of those polled in a recent Towers Perrin survey indicating they plan to reduce head count on a targeted basis in the coming year and another 6% planning for a significant reduction in staff.
The results of the new survey are improved over 2009 reports (42% and 35%, respectively), yet they reflect a continued level of concern among America’s businesses on the speed of recovery from the recent recession. In contrast to this projected employment contraction, 21% of the companies surveyed actually plan to increase hiring in the coming year, compared with just 3% that did so in 2009. In addition, 16% of companies that froze or reduced hiring in 2009 are planning to increase hiring next year. At the same time, companies are also expressing increased concern about keeping their critical talent as the recovery picks up steam and jobs become more available to top performers.

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