With the elections done and behind us, what direction will our country go and what will this mean for hiring in 2021 and beyond? First of all, with covid numbers increasing, many states are looking at either more lock-downs of businesses or at least keeping people away from large groups as much as possible. Restaurants, fitness centers, and other similar businesses will continue to see their revenues impacted and many will be forced to close.
What does this mean for hiring next year? With the promise of two vaccines being mass-produced and distributed as soon as possible, the hope is that by the spring, covid numbers should be dropping and businesses should be reopening. How soon things will go back to normal if they do at all is anyone’s guess. But overall the stock market seems to do well when one party rules the executive branch and one party rules the legislative branch. More than likely, this will be the outcome of the recent election. Most economists are looking at strong growth for next year, which means that companies in most industries will be hiring.
Currently, those unemployed are for the most part blue-collar and lower compensation employees. Professionals have not been as adversely affected by layoffs or furloughs. This means that competition for top talent will continue to be tight and employers will need to make sure that they are offering strong compensation packages to their employees. They will also need to make sure that they are financially and emotionally taking care of their own employees to ensure they don’t leave.
Overall, despite elections and the current pandemic, most businesses are planning to grow and expand next year and will be needing strong leadership and talent to help them grow. Smart companies will recognize this and will try to make their companies a great destination for top employees. We at Jamison Search can help your company find and attract this top talent to your firm. Please call any of our recruiters to have an in-depth discussion on how we can help you achieve your goals.
–Mike Jamison; Co-President