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Hiring Managers Weigh in on Economic Impacts

By: Randi Bates, Marketing Manager

Accountants One recently conducted a survey with Chief Financial Officers, Controllers and Human Resources Managers. The Atlanta based recruiting firm polled 500 managers to find out the impact they are experiencing during these turbulent times. The 5 survey questions covered: economic impact, hiring needs-both permanent and temporary, and thoughts on economic recovery.   The survey results prove that our current economy is having a major impact on hiring.

Through this survey Accountants One noticed a few trends. The Legal, Insurance and Computer industries seemed to be the least affected. The managers in theses industries attribute their success to careful planning and forecasting. As expected, Property Management, Construction and Real Estate were amongst the hardest hit.

Are you using contractors to augment your staff?

When will the economy rebound?

Some specific findings from our study of over 500 Hiring Managers:

  •  70% of Hiring Managers say that “times are tough.” However, 55% of these managers also say they are hiring for specific roles or maintaining their current staff.
  • Those Hiring Managers who described the economic impact as “devastating” fell into the Construction/Real Estate and Automotive Industries.
  • 15% of Hiring Managers are using contractors to augment their staffs.
  • More than 50% of managers surveyed have not used contractors in the past, but are considering their value during these times.
  • 74% of Hiring Managers feel that the economy will rebound in 1 year or less.
  • Just 26% felt that it could take the economy 2 or more years to fully recover.

There is no doubt that our current economic times are uncertain and have negatively impacted several leading companies. However, through this survey, savvy hiring managers are taking advantage of the highly qualified talent pool and hiring quality people. In conclusion, we appreciate everyone who participated in this survey. 

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