Increasing headcount through the end of 2024 may not be feasible for some U.S. companies, as 33% of hiring managers say budget constraints or the inability to hire is responsible for stagnant or decreasing hiring plans.
However, reskilling current employees may be the key to balancing the desire to strengthen workforces while keeping costs in line, according to a recent Express Employment Professionals-Harris Poll survey.
More than two-thirds of hiring managers (68%) — an increase from spring 2021 (60%) — report their company plans to reskill employees this year (i.e., train a current employee for a new position or teach them new skills for their current role).
Among those who plan to reskill employees, the majority intend to offer company-led training sessions or programs either during or outside work hours (71%). Many also report their company plans to provide on-the-job training by other employees (62%) or third-party training or courses (46%). Notably, 16% say they plan to use artificial intelligence (AI) to help train employees.
“Many of our clients have found that reskilling or upskilling current employees is more cost effective than external recruitment. When employees see that they are being invested in and given career growth opportunities it aids in their retention.” said Chris Petty, Francise Manager of the Central Oregon Express franchise office.
Traditional job roles are rapidly evolving or disappearing altogether, meaning the workforce is at a crossroads where reskilling and upskilling employees now could create the necessary talent of the future, according to Bill Stoller, Express Employment International CEO.
“As we’ve seen over the past several years, there is no quick fix for the skills gap,” he added. “However, companies investing in their greatest assets, people, will see the most success in recruiting, retention and their bottom line.”
Survey Methodology
The Job Insights survey was conducted online within the United States by The Harris Poll on behalf of Express Employment Professionals between May 16 and June 3, 2024, among 1,003 U.S. hiring decision-makers.
For full survey methodologies, please contact Sheena.Hollander@ExpressPros.com, Director of Corporate Communications & PR.
About Express Employment Professionals:
At Express Employment Professionals, we’re in the business of people. From job seekers to client companies, Express helps people thrive and businesses grow. Our international network of franchises offers localized staffing solutions to the communities they serve across the U.S., Canada, South Africa, Australia and New Zealand, employing 492,000 people globally in 2023 and more than 11 million since its inception. For more information, visit ExpressPros.com.
The Central Oregon Express office is located at 296 SW Columbia, Suite Be, Bend, Oregon and serves the Deschutes, Croop & Jefferson counties. Local businesses and applicants are encouraged to stop by, visit expresspros.com/bendor or call 541-389-1505.
About Bill Stoller:
William H. “Bill” Stoller is chairman and chief executive officer of Express Employment International. Founded in Oklahoma City, Oklahoma, the international staffing franchisor supports the Express Employment Professionals franchise and related brands. The Express franchise brand is an industry-leading, international staffing company with franchise locations in the U.S., Canada, South Africa, Australia and New Zealand.
