The Q2 report indicates reduced confidence
levels in job security, financial status and career advancement –
all evidence of continued economic uncertainty and a competitive
labor market.
NASHVILLE, Tenn., May 8, 2024
/PRNewswire/ -- The second quarterly Vaco Talent Pulse Report of
2024, released today by Vaco, a leading global talent solutions
firm, revealed that job seekers and employees are experiencing
increased struggles with confidence levels across all three areas
surveyed: job security, financial status and career
advancement.
The Q2 Vaco Talent Pulse Report shows
reduced confidence levels in job security, financial status career
advancement.
In particular, the report highlights a notable dip in confidence
levels regarding respondents' ability to secure and retain
employment: 35% reported feeling extremely confident in their job
search in Q2, as compared to 43% of respondents in Q1 – a drop of
eight points in one quarter. Confidence in ability to improve their
financial situation only saw a one-point decline, from 45% who felt
extremely confident in Q1 to 44% in Q2, which may be indicative of
the resilience of current job seekers.
"Today's job market presents a complex landscape shaped by
economic flux, wavering empoyment numbers and heightened
competition – all of which have a direct impact on the mindset of
current employees and job seekers," said Kyle Allen, Vaco Executive Vice President of
Sales & Recruiting. "Companies are being increasingly strategic
about their hiring which, in some cases, includes outsourcing roles
and departments. This is resulting in people having a harder time
finding jobs and is undoubtedly impacting confidence levels. Savvy
job seekers need to be proactive, adaptable and well-prepared at
every turn of the hiring process, using a multi-faceted approach
that includes working with a reputable recruiting firm, continuing
to develop marketable skills and exploring all avenues of their
professional network."
Key findings from the Q2 2024 Vaco Talent Pulse Report
include:
- Job Security: The percentage of respondents who were
extremely confident in their ability to obtain and hold a job
dropped by eight points to 35% in Q2, coupled with an increase in
the number of respondents who expressed they are not confident in
this area – up six points from 27% in Q1 to 33% in Q2.
- Financial Status: Confidence in one's ability to improve
their financial situation in the next six months decreased
minimally in Q2, down one point in both the extremely confident
(44%) and somewhat confident (30%) responses.
- Career Advancement: Confidence in career advancement
also declined, with 50% indicating extreme confidence in Q1, as
compared to 45% in Q2 – a five-point drop. On the flipside, 20% of
Q1 respondents claimed they were not confident in their ability to
advance in their career in the next year, which jumped to 24% in
Q2.
The Vaco Talent Pulse Report is based on feedback from more than
8,000 respondents across the U.S. and Canada. To access the report, go to
https://learn.vaco.com/talent-pulse-report-q2-2024.
About the Q2 2024 Vaco Talent Pulse Report
Poll
questions to inform the Q2 2024 Vaco Talent Pulse Report were
administered online through Vaco's LinkedIn company profile on
March 23, 2024, April 1, 2024, and April
6, 2024. Results and summaries are based on the 8,216 votes
cast across the three polls. A highlight of follower demographics
includes those from across the U.S. and Canada working in engineering, technology,
accounting, finance, human resources and operations. The majority
of people represented are either senior, manager, director, VP or
entry-level.
About Vaco
The speed of change requires the talent of
people. Vaco solves for both. With expertise in accounting and
finance, IT and digital, and HR and operations, Vaco delivers
critical talent solutions to clients by providing contract
staffing, managed services, direct-hire staffing and executive
search services. In addition to Vaco, the Vaco Holdings collective
of brands includes MorganFranklin Consulting, a finance, technology
and business advisory firm; Pivot Point Consulting, a Best in KLAS
healthcare IT consulting leader; Focus Search Partners, a retained
and interim executive search practice; and BUILT, a digital
solutions company specializing in software, cloud, data and AI
solutions. In addition to being named
to Inc. magazine's list of the fastest-growing
private companies for the past 17 years, Vaco was also named to
Forbes' 2018-2024 lists of America's Best Recruiting Firms as well
as the 2017-2023 lists of Largest Staffing Firms Globally by
Staffing Industry Analysts. Vaco annually ranks as one of the Best
Staffing Firms to Work For. For more information,
visit vaco.com.
Media Contact:
Brittney
Kowalski
(603) 504-2024
bkowalski@vaco.com
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SOURCE Vaco