Blog

Economic Optimism Jumpstarts Executive Staffing

Posted by Jeff Pelliccio on Mar 27, 2017 9:00:00 AM

In ICS insights, hiring trends

If you're an executive, hiring manager, or someone who's ready to do business, you should be aware of the sentiment that many shared just a few weeks ago:  Things seem to be looking up!  Well, at least that's what everyone expected.  A recent drop in the Dow has the market on edge and a lot of people are pointing fingers at the unrest surrounding the new healthcare bill. If passed, Trumps economic plans seems to be full speed ahead, but if the bill does not make it past the House, many will be skeptical of his visions for the future and what he can actually accomplish while in power. Expectations aren't always reality, but they can steer the direction of an economy.  Recently, an economic index broke the norm and projected some serious growth ahead for all those in business. So, if all goes according to Trumps plan, get ready to do some express staffing.  In fact, you'll want to dial a staffing agency right away after a passing vote. 

We all have witnessed one of the largest one-quarter gains for The Business Roundtable CEO Economic Outlook Index since the fourth quarter of 2009.  What a time to be alive!  Some may question the jump, but it should come as no surprise with economic sentiments high and executives hopeful for stimulated growth.  Since the inauguration of President Trump, businesses are waiting for the laws and policies to lean their way.  Things are definitely looking up when the index rises 19.1 points to 93.3.  A reading above 50 often indicates economic expansion. 

The leaders of the largest U.S. companies are starting to act accordingly with this newfound optimism in sales growth, hiring, and capital investment. In fact, they're not the only ones.  Small businesses and even consumers' sentiments are all rising.  The University of Michigan's consumer sentiment index rose to the highest level since 2004 and The National Federation of Independent Business's Small Business Optimism Index also reached the highest level since 2004.  All must see a benefit in Trump's promise to cut regulations and taxes, and boost American employment. President Trump even tweeted about the rise in optimism in America and how the reality will be even better. But, it is advised to steer towards the hard facts. 

 

Growth For All 

Another intriguing statistic is that the CEOs in the Roundtable survey upgraded their forecast for economic growth in 2017 from 2% to 2.2% increase. Those executives really do believe that things can only improve from here and that low growth will not be the norm forever. A few top concerns for executives that Trump must address are reduced regulations, tax reform, and infrastructure spending. Their hopes rest upon Washington lawmakers and an overhaul of the tax code. 

In other news, The Federal Reserve is supposed to raise its benchmark rate at one of its upcoming meetings, but this isn't concerning most people.  Many are convinced that higher interest rates won't slow growth.  In fact, some view the increase as a sign of strength.  That kind of attitude is expected to affected company practices in the near future, if not already. 

 

Can You Say Express Staffing? 

It was reported that 41% of CEOs expect to increase hiring in the next six months, which was 6% higher than last quarter.  In addition, 46% plan to boost capital spending.  This is another increase of 6%.  Those numbers are something to take note of today and going forward as you plan for the future of your business.  With the CEO outlook index at its highest level since the second quarter of 2014 and the gauge above its long-term historical average in the first time in seven quarters,  it seems that there's nothing but blue skies ahead. 

 

This is the Part Where You Call Your Staffing Agency Partner 

Growth across the board means increased hiring for all, meaning tough competition for the best talent.  It's hard enough as it is to obtain and retain this talent, but it will be extremely hard to have access to the candidate pool that you desire. In times like this, express staffing is needed and should be relied on heavily.   

Be sure that you are partnering up with the right staffing agency to get the top candidates and the jobs filled by the right person the first time.  You can bet that recruitment companies like ICS will have your back, and front, when it comes to the future of your company.  There is no future without the talent you have working for you, so make the most of this hiring increase and find the best talent there is out there for you.  

When you need to lighten the load while expanding, contact ICS for access to the best talent pools and industry knowledge.  Optimism is strong with us as well, but we have the realities to prove our worth. Find out why we are the best choice for you!