SHRM Survey Findings: 2014 Economic
Conditions—Overall Financial Health and
Hiring
October 30, 2014
Introduction
• This is Part 1 of a series of SHRM survey results about the state of jobs and skills in the current economic
condition, which relates to a SHRM survey series about the ongoing impact of the U.S. and global
recession from 2007 to 2012. Overall results will be reported separately in three different topic areas:
» Overall financial health and hiring.
» Recruiting and skills gaps.
» Global competition and hiring strategies.
• Overall results for 2013 will also be reported separately for California.
• Industry-specific results for the nine industries that were included in the sample will also be reported for
each question throughout the report. The nine industries are:
» Accommodation and food services, retail/wholesale trade.
» Construction, mining, quarrying, and oil and gas extraction.
» Educational services.
» Finance, insurance, real estate and rental and leasing.
» Government agencies.
» Health care and social assistance.
» High-tech.
» Manufacturing.
» Professional, scientific, and technical services.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Key Findings
• How is the overall financial health of organizations? The majority (80%) of organizations
reported their financial health as being “excellent” or “good.” When asked about the change in
overall financial health compared to 12 months ago, more than one-half (57%) of organizations
reported having significant or mild improvement, an increase from 51% in 2012 and 42% in 2011.
» Larger organizations (with 25,000 or more employees) reported better overall financial health
compared to smaller organizations (with 1 to 24,999 employees).
» More than two-fifths (44%) of organizations in the accommodation and food services,
retail/wholesale trade industry; and the finance, insurance, real estates and rental and leasing
industry reported excellent overall financial health, whereas less than one-fifths (17%) of
organizations in the educational services industry and government agencies reported
excellent overall financial health.
• What percentage of regular full-time staff have organizations lost in the last 12 months?
Close to one-third (31%) of organizations had not lost any staff in the past year, and two-fifths
(40%) reported having lost up to 5% of employees.
» Smaller organizations were more likely to have no staff losses compared with larger
organizations.
» All industries fared better than the high-tech industry (15%) in terms of losing no employees in
the last 12 months.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Key Findings (continued)
• Regardless of the status of their current financial health, what actions have organizations taken
as a result of financial challenges in the last 12 months? About one-quarter of organizations have
implemented budget cuts (27%) and laid off employees (25%). However, two-fifths (40%) of
organizations reported they have taken no cost-saving measures in the past year.
» Organizations in the educational services and government agencies industries were more likely
to have implemented budget cuts in the past year (37% and 35%, respectively).
• Regardless of the status of their current financial health, what actions have organizations taken
as a result of financial stability or growth in the last 12 months? Two-fifths (39%) of organizations
have increased salaries, and one-third (33%) have provided bonuses in the past year. One-third (32%)
of organizations have taken no actions that would increase costs to the organization.
» The professional, scientific and technical services industry was more likely than other industries
to have increased salaries (47%) or provided bonuses (48%) in the past year.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Key Findings (continued)
• Have organizations been hiring? The majority (96%) of organizations hired full-time regular
employees, and two-thirds (67%) hired part-time regular employees in the past 12 months. More than
one-half of organizations also hired contract/temporary positions (62% for full-time, 52% for part-time,
respectively).
» The high-tech industry had the highest percentage of organizations hiring for full-time
contract/temporary positions (82%), and the educational services industry was the highest for
hiring part-time contract/temporary positions (73%).
» When making decisions to hire full-time regular positions, maintaining normal business
operations was reported as the most important factor (79% reported extremely/very important),
followed by organizational growth (68%) and changes in business strategy (55%).
• For which full-time job categories are organizations hiring? Administrative support staff (60%),
accounting and finance professionals (53%), managers and executives (49%), IT/computer specialists
(42%), and HR professionals (38%) are among the top full-time job categories organizations have
hired in the last 12 months.
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Key Findings (continued)
• Are organizations creating new positions or replacing jobs lost? Of those organizations hiring,
the majority (82%) has hired direct replacements of jobs lost, whereas 61% hired for completely
new positions and 42% for replacements with new duties.
» Larger organizations were more likely than smaller organizations to have hired direct
replacements or replacements with new duties in the last 12 months.
» Organizations in the high-tech industry and the professional, scientific and technical services
industry were more likely to have hired completely new positions in the last 12 months.
» When asked about changes in the types of positions hired, two-thirds (66%) of organizations
indicated that hiring for completely new full-time regular positions has increased in the last 12
months.
» Smaller organizations (with 1 to 499 employees) were more likely than larger organizations
(with 500 or more employees) to report increased hiring for completely new positions.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Key Findings (continued)
• Have any of the full-time regular positions required new skills? Of those organizations hiring,
about one-half (48%) indicated that new skills were required for full-time regular positions they have
hired in the last 12 months.
» Close to three-quarters (72%) of organizations in the high-tech industry reported requiring
new skills for full-time regular positions they have hired.
» Top reasons that those positions require new skills were growth of organization (56%),
changing technology (51%) and organizations were developing or offering new products.
• Is it difficult to find qualified individuals for full-time regular positions requiring new skills?
Two-thirds (66%) of organizations reported it was somewhat or very difficult to recruit for full-time
regular positions that require new skills in the last 12 months, a slight increase from 63% in 2012
and 2011.
» The high-tech industry reported the highest percentage (77%) of difficulty in finding qualified
individuals for full-time regular positions that require new skills.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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What Do These Findings Mean for the HR Profession?
• After a lengthy recession that saw the loss of more than eight million jobs, the U.S. economy is
clearly in recovery, albeit in a tempered period of growth. Four-fifths of respondents to this survey
reported that their organization is either in “excellent” or “good” financial health, an extremely
positive indicator for the economy’s current expansion.
• Despite improved conditions, many employers and sectors of the economy are still struggling.
Certain industries, such as high-tech, are seeing increased demand for their services, but others—
particularly government entities—continue to face budget deficits. And although hiring has improved
in the U.S. labor market overall, some employers have still been forced to cut staff to make ends
meet. One quarter of respondents to this survey laid off workers in response to financial difficulties
during the past 12 months.
• Despite recent job gains, millions of positions are still going unfilled and, consequently, impeding
the growth of some employers. In July 2014, there were 4.7 million job openings in the United
States, up nearly 800,000 from the beginning of 2014, according to federal data. With millions of
people seeking work, it is clear that many jobs are not being filled due to a skills mismatch between
job seekers and open positions. Two-thirds of respondents to this survey indicated that they were
having difficulty hiring for their full-time openings.
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Organizations’ Overall Financial Health
Excellent
All industries (n = 3,255)
Good
30%
Fair
Poor
50%
16% 4%
Accommodation and food services, retail/
wholesale trade (n = 321)
44%
45%
10% 2%
Finance, insurance, real estate and rental
and leasing (n = 302)
44%
43%
9% 4%
37%
Manufacturing (n = 399)
48%
13%
2%
3%
Construction, mining, quarrying, and oil and
gas extraction (n = 331)
34%
50%
13%
Professional, scientific, and technical
Services (n = 449)
34%
49%
13% 4%
High-tech (n = 153)
Health care and social assistance (n = 341)
27%
19%
Educational services (n = 357)
17%
Government agencies (n = 514)
17%
52%
59%
53%
50%
16%
5%
17%
6%
25%
27%
5%
6%
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages may not equal 100% due to rounding.
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Organizations’ Overall Financial Health—Excellent
Comparison by organization staff size
• Organizations with 25,000 or more employees were more likely than organizations with 1 to 24,999 employees to
rate their current overall financial health as “excellent.”
44%
30%
26%
1 to 99
100 to 499
28%
500 to 2,499
30%
2,500 to 24,999
25,000 or more
Note: Only statistically significant differences are shown.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Organizations’ Change in Overall Financial Health
Compared to 12 Months Ago (All Industries)
Significant
improvement
Mild
improvement
2013 (n = 3,140)
13%
2012 (n = 3,362)
13%
2011 (n = 2,277)
2010 (n = 2,333)
9%
7%
No
change
Mild
decline
44%
22%
38%
33%
35%
Significant
decline
22%
17%
20%
24%
26%
25%
24%
4%
7%
8%
9%
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Organizations’ Change in Overall Financial Health
Compared to 12 Months Ago (by Industry)
Significant
Improvement
Mild
Improvement
No
Change
Mild
Decline
Significant
Decline
13%
44%
22%
17%
4%
20%
47%
19%
10%
3%
17%
53%
19%
10%
1%
16%
47%
16%
17%
4%
Manufacturing (n = 388)
15%
47%
21%
15%
2%
High-tech (n = 150)
15%
47%
15%
19%
4%
14%
43%
20%
17%
6%
12%
33%
21%
26%
7%
Educational services (n = 346)
6%
37%
35%
19%
3%
Government agencies (n = 500)
6%
44%
30%
16%
5%
All industries (n = 3,140)
Finance, insurance, real estate and
rental and leasing (n = 288)
Accommodation and food services,
retail/wholesale trade (n = 309)
Construction, mining, quarrying, and
oil and gas extraction (n = 318)
Professional, scientific, and technical
services (n = 434)
Health care and social assistance
(n = 324)
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Organizations’ Loss of Regular Full-Time Workforce in the Last 12
Months due to Layoffs, Attrition, Restructuring, etc. (All Industries)
31%
0% of staff
49%
40%
1% to 5% of staff
33%
16%
6% to 10% of staff
10%
More than 50% of staff
2012 (n = 3,277)
9%
11% to 20% of staff
21% to 50% of staff
2013 (n = 3,141)
5%
4%
2%
1%
1%
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Organizations’ Loss of Regular Full-Time Workforce in the Last 12
Months due to Layoffs, Attrition, Restructuring, etc. (All Industries)
Comparison by organization staff size
• Organizations with 1 to 99 employees were more likely than organizations with 100 or more employees to have
encountered 0% staff loss in the last 12 months. Organizations with 100 to 2,499 employees were more likely
than organizations with 2,500 or more employees to have encountered 0% staff loss in the last 12 months.
45%
34%
28%
20%
15%
1 to 99
100 to 499
500 to 2,499
2,500 to 24,999
25,000 or more
Number of employees
Note: Only statistically significant differences are shown.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Organizations’ Loss of Regular Full-Time Workforce in the Last 12
Months due to Layoffs, Attrition, Restructuring, etc. (by Industry)
0%
of Staff
1% to 5%
of Staff
6% to 10%
of Staff
11% to 20%
of Staff
21% to 50% More Than
50% of Staff
of Staff
All industries (n = 3,141)
31%
40%
16%
9%
4%
1%
Accommodation and food services,
retail/wholesale trade (n = 302)
33%
39%
12%
9%
6%
1%
Construction, mining, quarrying, and
oil and gas extraction (n = 322)
22%
38%
22%
13%
4%
1%
Educational services (n = 337)
34%
47%
11%
5%
2%
1%
Finance, insurance, real estate
and rental and leasing (n = 284)
33%
38%
15%
9%
4%
1%
Government agencies (n = 505)
35%
39%
15%
9%
1%
<1%
Health care and social assistance
(n = 321)
31%
48%
11%
6%
4%
1%
High-tech (n = 150)
15%
37%
27%
16%
5%
1%
Manufacturing (n = 392)
32%
42%
14%
8%
4%
1%
Professional, scientific, and technical
services (n = 440)
31%
31%
19%
11%
7%
1%
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Actions Organizations Have Taken as a Result of Financial
Challenges in the Last 12 Months (All Industries)
None
40%
Implemented budget cuts
27%
Laid off employees
25%
Had a hiring freeze
19%
Eliminated or reduced overtime
16%
Frozen/reduced salaries, raises or bonuses
15%
Cut temporary staff
13%
Reduced benefits or increased employee contribution
11%
Reduced employee hours
11%
Offered early retirement or retirement incentive
6%
Furloughed employees because of the government shutdown
4%
Furloughed employees, unrelated to the government shutdown
3%
Other cuts
4%
Note: n = 3,211. Respondents who answered "don't know" were excluded from this analysis. Percentages do not equal 100% due to multiple response
options.
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Actions Organizations Have Taken as a Result of Financial
Challenges in the Last 12 Months (All Industries)
Comparison by organization staff size
• Organizations with 1 to 499 employees were more likely than organizations with 500 or more employees to
have taken NO actions as a result of financial challenges. Organizations with 500 to 2,499 employees were
more likely than organizations with 2,500 or more employees to have taken NO actions as a result of financial
challenges.
52%
48%
37%
27%
19%
1 to 99
100 to 499
500 to 2,499
2,500 to 24,999
25,000 or more
Number of employees
Note: Only statistically significant differences are shown.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Actions Organizations Have Taken as a Result of Financial
Challenges in the Last 12 Months (by Industry)
None
Eliminated Frozen/Reduced
Cut
Implemented Laid Off Had a Hiring
or Reduced Salaries, Raises Temporar
Budget Cuts Employees
Freeze
Overtime
or Bonuses
y Staff
All industries (n = 3,211)
40%
27%
25%
19%
16%
15%
13%
Accommodation and food services,
retail/wholesale trade (n = 318)
44%
21%
16%
15%
21%
8%
12%
Construction, mining, quarrying, and
oil and gas extraction (n = 324)
43%
20%
37%
19%
11%
11%
14%
Educational services (n = 345)
31%
37%
22%
17%
13%
18%
12%
Finance, insurance, real estate
and rental and leasing (n = 290)
53%
20%
21%
11%
9%
9%
9%
Government agencies (n = 520)
33%
35%
13%
24%
17%
27%
13%
Health care and social assistance
(n = 337)
30%
33%
29%
20%
29%
19%
14%
High-tech (n = 152)
40%
28%
38%
32%
11%
11%
19%
Manufacturing (n = 396)
44%
22%
28%
21%
20%
8%
19%
Professional, scientific, and technical
services (n = 438)
45%
23%
31%
17%
8%
13%
12%
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages do not equal 100% due to multiple response options.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Actions Organizations Have Taken as a Result of Financial
Challenges in the Last 12 Months (by Industry, continued)
Furloughed
Offered Early Employees
Retirement or Because of
Retirement
the
Incentive
Government
Shutdown
Furloughed
Employees,
Unrelated to
the
Government
Shutdown
Other Cuts
4%
3%
4%
2%
1%
1%
4%
9%
6%
3%
5%
3%
12%
13%
12%
3%
4%
4%
Finance, insurance, real estate
and rental and leasing (n = 290)
11%
3%
3%
0%
<1%
3%
Government agencies (n = 520)
11%
7%
11%
9%
5%
5%
Health care and social assistance
(n = 337)
16%
24%
5%
1%
2%
4%
High-tech (n = 152)
8%
6%
6%
3%
5%
2%
Manufacturing (n = 396)
9%
7%
5%
1%
4%
4%
Professional, scientific, and technical
services (n = 438)
14%
7%
4%
8%
4%
4%
Reduced
Benefits or
Increased
Employee
Contribution
Reduced
Employee
Hours
11%
11%
6%
9%
22%
9%
Educational services (n = 345)
All industries (n = 3,211)
Accommodation and food services,
retail/wholesale trade (n = 318)
Construction, mining, quarrying, and
oil and gas extraction (n = 324)
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages do not equal 100% due to multiple response options.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Actions Organizations Have Taken as a Result of Financial
Stability or Growth in the Last 12 Months (All Industries)
None
32%
Increased salaries
39%
Provided bonuses
33%
Filled positions that were lost
(e.g., due to layoffs, attrition, restructuring)
23%
Improved benefits package
11%
Increased budgets
10%
Allowed for increased employee hours
(e.g., back to normal hours or allowing overtime)
10%
Ended hiring freeze
Ended furlough
Provided back-pay for furloughed employees
Other improvements
9%
3%
1%
3%
Note: n = 3,095. Respondents who answered "don't know" were excluded from this analysis. Percentages do not equal 100% due to multiple response
options.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Actions Organizations Have Taken as a Result of Financial
Stability or Growth in the Last 12 Months(by Industry)
None
Increased
Salaries
Provided
Bonuses
Filled
Positions
That Were
Lost
32%
39%
33%
23%
11%
10%
34%
38%
39%
20%
16%
14%
30%
36%
42%
27%
13%
11%
Educational services (n = 337)
39%
38%
13%
21%
8%
9%
Finance, insurance, real estate and
rental and leasing (n = 283)
29%
41%
46%
19%
15%
11%
Government agencies (n = 489)
33%
36%
9%
27%
4%
8%
Health care and social assistance
(n = 321)
40%
33%
26%
15%
9%
7%
High-tech (n = 147)
28%
43%
43%
33%
13%
15%
Manufacturing (n = 383)
28%
44%
43%
23%
10%
9%
Professional, scientific, and
technical services (n = 423)
26%
47%
48%
24%
13%
12%
All industries (n = 3,095)
Accommodation and food services,
retail/wholesale trade (n = 305)
Construction, mining, quarrying, and
oil and gas extraction (n = 323)
Improved
Benefits
Package
Increased
Budgets
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages do not equal 100% due to multiple response options.
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Actions Organizations Have Taken as a Result of Financial Stability or
Growth in the Last 12 Months(by Industry, continued)
Allowed for
Increased
Employee
Hours
Ended Hiring
Freeze
Ended
Furlough
10%
9%
3%
1%
3%
14%
10%
<1%
0%
2%
13%
8%
2%
<1%
2%
Educational services (n = 337)
4%
10%
3%
1%
1%
Finance, insurance, real estate and
rental and leasing (n = 283)
7%
6%
0%
0%
3%
Government agencies (n = 489)
5%
9%
9%
4%
2%
Health care and social assistance
(n = 321)
8%
8%
<1%
0%
2%
High-tech (n = 147)
8%
13%
5%
1%
5%
Manufacturing (n = 383)
17%
9%
1%
0%
3%
Professional, scientific, and technical
services (n = 423)
10%
6%
5%
1%
6%
All industries (n = 3,095)
Accommodation and food services,
retail/wholesale trade (n = 305)
Construction, mining, quarrying, and
oil and gas extraction (n = 323)
Provided
Back-Pay for
Other
Furloughed Improvements
Employees
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages do not equal 100% due to multiple response options.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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Organizations Hiring Full- and Part-Time Regular Staff in
the Last 12 Months
96%
All industries (n = 3,236 - 3,330)
67%
Accommodation and food services,
retail/wholesale trade (n = 323 - 329)
98%
85%
Construction, mining, quarrying,
and oil and gas extraction (n = 319 - 335)
97%
47%
96%
Educational services (n = 359 - 367)
87%
Finance, insurance, real estate and
rental and leasing (n = 299 - 307)
95%
67%
96%
Government agencies (n = 523 - 534)
73%
Health care and social assistance
(n = 345 - 349)
Regular
Full-Time
Regular
Part-Time
97%
89%
99%
High-tech (n = 149 - 156)
56%
97%
Manufacturing (n = 388 - 404)
41%
Professional, scientific, and
technical services (n = 442 - 458)
91%
60%
Note: Respondents who answered "don't know" were excluded from this analysis.
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Organizations Hiring Full- and Part-Time Contract/Temporary
Staff in the Last 12 Months
62%
All industries (n = 3,082 - 3,172)
52%
Accommodation and food services,
retail/wholesale trade (n = 294 - 303)
57%
53%
Construction, mining, quarrying,
and oil and gas extraction (n = 312 - 327)
57%
37%
62%
Educational services (n = 337 - 339)
73%
Finance, insurance, real estate and
rental and leasing (n = 284 - 298)
Contract/temporary
Full-Time
57%
46%
62%
62%
Government agencies (n = 493 - 498)
Health care and social assistance
(n = 315 - 324)
Contract/temporary
Part-Time
57%
57%
82%
High-tech (n = 144 - 153)
62%
73%
Manufacturing (n = 382 - 398)
35%
Professional, scientific, and
technical services (n = 430 - 446)
63%
50%
Note: Respondents who answered "don't know" were excluded from this analysis.
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Importance of Factors in Organizations’ Decision to Hire for
Full-Time Regular Positions (All Industries)
Extremely
important
Maintain normal business
operations
Improved economy
Somewhat
important
33%
Organizational growth
Changes in business
strategy
Very
important
46%
26%
16%
38%
25%
24%
33%
Not important
at all
17%
42%
17%
10%
Not very
important
3% 2%
8%
8%
11%
18%
9%
13%
Note: n = 2,873 - 3,055. Respondents who answered "don't know" were excluded from this analysis. Only respondents whose organizations were hiring
full-time staff were asked this question. Percentages may not equal 100% due to rounding.
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Importance of “Maintaining Normal Business Operations” in
Organizations’ Decision to Hire for Full-Time Regular Positions (by
Industry)
Extremely important
Very important
Somewhat important
Not very important
Not important at all
All industries (n = 3,055)
33%
46%
Accommodation and food services,
retail/wholesale trade (n = 309)
32%
48%
18%
Construction, mining, quarrying, and oil and
gas extraction (n = 312)
32%
47%
17% 2%4%
Educational services (n = 340)
33%
46%
18% 1%2%
Finance, insurance, real estate and rental and
leasing (n = 282)
31%
Manufacturing (n = 376)
Professional, scientific, and technical services
(n = 398)
18%
34%
42%
3% 5%
12% 2%3%
23%
50%
2%2%
15% 2%4%
42%
50%
26%
20%
44%
43%
Health care and social assistance (n = 320)
High-tech (n = 150)
45%
37%
Government agencies (n = 486)
17% 3% 5%
5% 8%
19%
3% 6%
17%
5% 7%
Note: Respondents who answered “don't know” were excluded from this analysis. Only respondents whose organizations were hiring full-time staff were
asked this question. Percentages for “not very important” and “not important at all” were combined. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
26
Importance of “Organizational Growth” in Organizations’ Decision
to Hire for Full-Time Regular Positions (by Industry)
Extremely important
Very important
All industries (n = 2,984)
Somewhat important
Not very important
26%
42%
Not important at all
16%
8% 8%
Accommodation and food services,
retail/wholesale trade (n = 306)
28%
47%
13%
8% 4%
Construction, mining, quarrying, and oil and
gas extraction (n = 304)
29%
44%
17%
5% 4%
Educational services (n = 324)
18%
Finance, insurance, real estate and rental and
leasing (n = 279)
Government agencies (n = 462)
Health care and social assistance (n = 313)
43%
33%
12%
26%
Professional, scientific, and technical services
(n = 390)
24%
43%
40%
24%
35%
13%
46%
29%
High-tech (n = 149)
Manufacturing (n = 376)
18%
11% 5% 4%
15%
20%
13%
40%
47%
39%
9%
10% 7%
13% 5% 2%
17%
15%
5%6%
5%5%
Note: Respondents who answered "don't know" were excluded from this analysis. Only respondents whose organizations were hiring full-time staff were
asked this question. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
27
Importance of “Changes in Business Strategy” in Organizations’
Decision to Hire for Full-Time Regular Positions (by Industry)
Extremely important
Very important
All industries (n = 2,890)
Accommodation and food services,
retail/wholesale trade (n = 297)
Construction, mining, quarrying, and oil and
gas extraction (n = 293)
Educational services (n = 310)
Finance, insurance, real estate and rental and
leasing (n = 268)
Government agencies (n = 451)
Health care and social assistance (n = 299)
Somewhat important
17%
38%
15%
42%
18%
11%
Professional, scientific, and technical services
(n = 380)
25%
43%
43%
32%
15%
20%
13%
12%
23%
23%
42%
44%
39%
8%
11%
6% 7%
19%
22%
9%
9% 8%
24%
28%
15%
11%
26%
38%
21%
Not important at all
24%
36%
15%
High-tech (n = 146)
Manufacturing (n = 368)
Not very important
19%
13% 7%
17%
6% 3%
24%
10% 7%
25%
10% 6%
Note: Respondents who answered "don't know" were excluded from this analysis. Only respondents whose organizations were hiring full-time staff were
asked this question. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
28
Importance of “Improved Economy” in Organizations’ Decision to
Hire for Full-Time Regular Positions (by Industry)
Extremely important
Very important
All industries (n = 2,873)
Somewhat important
10%
Accommodation and food services,
retail/wholesale trade (n = 294)
14%
Construction, mining, quarrying, and oil and
gas extraction (n = 292)
13%
Educational services (n = 312)
8%
Finance, insurance, real estate and rental and
leasing (n = 259)
8%
Government agencies (n = 451)
12%
25%
33%
30%
21%
20%
High-tech (n = 144) 6%
22%
18%
36%
32%
33%
21%
17%
Manufacturing (n = 371)
10%
27%
34%
Professional, scientific, and technical tervices
(n = 377)
11%
25%
34%
10%
16%
9%
20%
27%
39%
11%
13%
19%
28%
13%
16%
34%
31%
22%
Not important at all
29%
30%
7%
Health care and social assistance (n = 294)
Not very important
22%
18%
17%
13%
11%
12%
13%
Note: Respondents who answered "don't know" were excluded from this analysis. Only respondents whose organizations were hiring full-time staff were
asked this question. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
29
Types of Full-Time Regular Positions That Organizations
Hired in the Last 12 Months
All industries (n = 2,870)
Accommodation and food services,
retail/wholesale trade (n = 285)
Construction, mining, quarrying, and oil
and gas extraction (n = 301)
42%
Finance, insurance, real estate and
rental and leasing (n = 258)
Government agencies (n = 458)
50%
68%
40%
41%
44%
55%
64%
43%
35%
82%
62%
42%
High-tech (n = 135)
Professional, scientific, and technical
services (n = 374)
78%
64%
39%
Health care and social assistance
(n = 302)
Manufacturing (n = 356)
81%
56%
37%
Educational services (n = 326)
82%
61%
62%
80%
Replacements
86%
Completely new
positions
87%
Replacements, but
with new duties
76%
81%
80%
79%
74%
Note: Respondents who answered "don't know" were excluded from this analysis. Only respondents whose organizations were hiring full-time staff were
asked this question. Percentages do not equal 100% due to multiple response options.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
30
Types of Full-Time Regular Positions That Organizations
Hired in the Last 12 Months
Comparison by organization staff size
• Organizations with 100 or more employees were more likely than organizations with 1 to 99 employees to have
hired replacements in the last 12 months.
89%
86%
83%
81%
70%
1 to 99
100 to 499
500 to 2,499
2,500 to 24,999
25,000 or more
Number of employees
• Organizations with 500 to 24,999 employees were more likely than organizations with 1 to 499 employees to
have hired replacements but with new duties in the last 12 months.
30%
1 to 99
49%
51%
500 to 2,499
2,500 to 24,999
40%
36%
100 to 499
25,000 or more
Number of employees
Note: Only statistically significant differences are shown.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
31
Change in Hiring Types for Full-Time Regular Positions in the
Last 12 Months (All Industries)
Increased
Replacements
(n = 2,254)
Replacements, but with new
duties
(n = 1,114)
Completely new positions
(n = 1,655)
Stayed the same
25%
Decreased
62%
45%
13%
49%
66%
6%
26%
8%
Note: Respondents who answered "don't know" were excluded from this analysis. Only respondents whose organizations were hiring full-time staff were
asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
32
Increased Hiring for Completely New Full-Time Regular
Positions in the Last 12 Months (All Industries)
Comparison by organization staff size
• Organizations with 1 to 499 employees were more likely than organizations with 500 or more employees to report
increased hiring for completely new full-time regular positions in the last 12 months.
76%
74%
60%
58%
51%
1 to 99 employees
100 to 499
employees
500 to 2,499
employees
2,500 to 24,999
employees
25,000 or more
employees
Note: Only statistically significant differences are shown.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
33
Change in Hiring Types for Full-Time Regular Positions in the
Last 12 Months (by Industry)
Replacements, but with New
Duties
Replacements
Increased
Completely New Positions
Stayed the
Stayed the
Stayed the
Decreased Increased
Decreased Increased
Decreased
Same
Same
same
25%
62%
13%
45%
49%
6%
66%
26%
8%
23%
64%
12%
47%
47%
6%
66%
28%
6%
31%
55%
14%
48%
48%
5%
79%
16%
5%
Educational services (n = 151 - 258)
18%
69%
13%
45%
50%
5%
54%
36%
9%
Finance, insurance, real estate and
rental and leasing (n = 100 - 196)
24%
66%
10%
48%
48%
4%
74%
23%
4%
Government agencies (n = 176 - 380)
27%
58%
15%
49%
44%
6%
65%
26%
8%
Health care and social assistance
(n = 119 - 252)
22%
63%
15%
42%
50%
8%
56%
25%
19%
High-tech (n = 82 - 105)
26%
58%
16%
34%
54%
12%
63%
24%
13%
Manufacturing (n = 140 - 276)
25%
64%
11%
44%
51%
5%
66%
27%
6%
Professional, scientific, and technical
services (n = 120 - 282)
28%
61%
11%
41%
48%
11%
66%
24%
9%
All industries (n = 1,114 - 2,254)
Accommodation and food services,
retail/wholesale trade (n = 96 - 222)
Construction, mining, quarrying, and oil
and gas extraction (n = 109 - 229)
Note: Respondents who answered "don't know" were excluded from this analysis. Only respondents whose organizations were hiring full-time staff were
asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
34
Organizations Requiring New Skills for Full-Time Regular
Positions Hired in the Last 12 Months
All industries (n = 2,641)
Accommodation and food services,
retail/wholesale trade (n = 261)
Construction, mining, Quarrying,
and oil and gas extraction (n = 271)
48%
42%
42%
Educational services (n = 287)
49%
Finance, insurance, real estate
and rental and leasing (n = 228)
Government agencies (n = 434)
Health care and social assistance (n = 271)
53%
41%
45%
High-tech (n = 126)
Manufacturing (n = 346)
Professional, scientific, and technical
Services (n = 343)
Other industry (n = 74)
72%
51%
48%
57%
Note: Respondents who answered “don't know” were excluded from this analysis. Only respondents whose organizations were hiring full-time staff were
asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
35
Reasons That Those Positions Require New Skills (All
Industries)
Growth of organization
56%
Changing technology
51%
Developing or offering new products/services
44%
Expanding business into new markets
39%
Reorganization
Merger or acquisition
Replacing temporary workers, part-time
employees, contractors or freelancers with full-time
positions
Other
33%
10%
9%
7%
Note: n = 1,221. Respondents who answered “don't know” were excluded from this analysis. Percentages do not equal 100% due to multiple response
options. Only respondents whose organizations were hiring full-time positions that required new skills were asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
36
Reasons That Those Positions Require New Skills—
Changing Technology (All Industries)
Comparison by organization staff size
• Organizations with 500 to 2,499 employees were more likely than organizations with 1 to 99 employees to indicate
that changing technology is one of the main reasons positions require new skills. Organizations with 2,500 or more
employees were more likely than organizations with 1 to 499 employees to indicate that changing technology is
one of the main reasons positions require new skills.
46%
66%
64%
2,500 to 24,999
employees
25,000 or more
employees
52%
33%
1 to 99 employees
100 to 499
employees
500 to 2,499
employees
Note: Only statistically significant differences are shown.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
37
Reasons That Those Positions Require New Skills (by
Industry)
Developing
Replacing Temporary
Expanding
or Offering
Merger or
Workers, Part-time
Growth of
Changing
Business Reorgan
New
Acquisitio Employees, Contractors Other
Organization Technology
into New ization
Products/
n
or Freelancers with FullMarkets
Services
Time Positions
All industries (n = 1,221)
56%
51%
44%
39%
33%
10%
9%
7%
Accommodation and food
services, retail/wholesale trade
(n = 102)
61%
51%
49%
45%
26%
15%
10%
5%
Construction, mining, quarrying,
and oil and gas extraction (n =
110)
65%
37%
32%
46%
25%
14%
5%
6%
Educational services (n = 137)
45%
53%
40%
31%
38%
1%
9%
12%
Finance, insurance, real estate
and rental and leasing (n = 116)
64%
47%
47%
41%
33%
12%
9%
11%
Government agencies (n = 171)
33%
57%
28%
11%
54%
4%
16%
9%
Health care and social
assistance (n = 118)
53%
50%
43%
29%
32%
8%
3%
12%
High-tech (n = 90)
70%
59%
63%
61%
28%
18%
6%
3%
Manufacturing (n = 174)
60%
52%
48%
48%
25%
10%
9%
4%
Professional, scientific, and
technical services (n = 162)
63%
49%
50%
49%
30%
12%
5%
4%
Note: Respondents who answered “don't know” were excluded from this analysis. Percentages do not equal 100% due to multiple response options.
Only respondents whose organizations were hiring full-time positions that required new skills were asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
38
Level of Difficulty to Find Qualified Individuals for Full-time Regular Positions
That Require New Skills in the Last 12 Months (All Industries)
Very difficult
Somewhat difficult
12%
2013 (n = 1,199)
2012 (n = 852)
10%
2011 (n = 528)
7%
2010 (n = 749) 3%
Somewhat easy
54%
31%
53%
56%
36%
Very easy
4%
33%
4%
32%
5%
45%
16%
Note: Respondents who answered "don't know" were excluded from this analysis. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
39
Level of Difficulty to Find Qualified Individuals for Full-time Regular Positions
That Require New Skills in the Last 12 Months (by Industry)
Very difficult
Somewhat difficult
All industries (n = 1,199)
12%
Somewhat easy
54%
Very easy
31%
4…
Accommodation and food services,
retail/wholesale trade (n = 101)
10%
54%
33%
3%
Construction, mining, quarrying, and oil and
gas extraction (n = 109)
11%
52%
34%
3%
Educational services (n = 131)
Finance, insurance, real estate and rental and
leasing (n = 117)
Government agencies (n = 168)
Health care and social assistance (n = 114)
High-tech (n = 89)
Manufacturing (n = 171)
Professional, scientific, and technical services
(n = 161)
8%
50%
12%
7%
34%
56%
49%
15%
12%
20%
12%
8%
36%
54%
65%
48%
58%
2%
30%
7%
27%
4%
21%
1%
30%
2%
27%
2%
Note: Respondents who answered “don't know” were excluded from this analysis. Only respondents whose organizations were hiring full-time positions
that required new skills were asked this question. Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
40
Types of Full-Time Job Categories Organizations Hired in
the Last 12 Months (All Industries)
Administrative support staff
60%
Accounting and finance professionals
53%
Managers and executives
49%
IT/computer specialists, such as IT analysts, software
developers and programmers, database administrators
42%
HR professionals
38%
Customer service representatives
31%
Hourly laborers
30%
Engineers
25%
Skilled trades, such as electricians, carpenters,
machinists, mechanics, welders, plumbers
24%
Sales representatives
22%
Note: n = 3,023. Respondents who answered “don't know” were excluded from this analysis. Percentages do not equal 100% due to multiple response
options. Only respondents whose organizations were hiring full-time staff were asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
41
Types of Full-Time Job Categories Organizations Hired in
the Last 12 Months (All Industries, continued)
Hourly service workers, such as cashiers, retail sales,
food service workers
High-skilled technicians, such as health,
telecommunications and environmental technicians
High-skilled medical, such as nurses, doctors,
specialists
15%
15%
14%
Production operators
13%
Drivers
13%
Educators, such as teachers, professors
12%
Community and social service workers, such as
counselors, therapists, social workers
12%
Lawyers, judges and legal support workers
10%
Protective service workers, such as firefighters, law
enforcement, security guards
8%
Scientists
Other
7%
5%
Note: n = 3,023. Respondents who answered “don't know” were excluded from this analysis. Percentages do not equal 100% due to multiple response
options. Only respondents whose organizations were hiring full-time staff were asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
42
Types of Full-time Job Categories Organizations Hired in
the Last 12 Months (by Industry)
Accounting
Managers
Administrative
and Finance
and
Support Staff
Professionals Executives
All industries (n = 3,023)
Accommodation and food
services, retail/wholesale trade (n
= 294)
Construction, mining, quarrying,
and oil and gas extraction
(n = 312)
Educational services (n = 330)
IT/Computer
HR
Specialists Professionals
Customer
Hourly
Service
Laborers
Representatives
60%
53%
49%
42%
38%
31%
30%
55%
54%
57%
33%
39%
52%
37%
59%
58%
47%
27%
36%
10%
49%
79%
50%
47%
45%
45%
16%
29%
Finance, insurance, real estate
and rental and leasing (n = 276)
64%
68%
55%
44%
36%
55%
8%
Government agencies (n = 484)
68%
56%
50%
51%
37%
36%
36%
Health care and social assistance
(n = 323)
64%
44%
50%
41%
39%
33%
20%
High-tech (n = 150)
49%
57%
57%
71%
43%
34%
14%
Manufacturing (n = 376)
41%
46%
47%
27%
31%
27%
56%
Professional, scientific, and
technical services (n = 398)
58%
48%
40%
52%
38%
24%
8%
Note: Respondents who answered “don't know” were excluded from this analysis. Percentages do not equal 100% due to multiple response options.
Only respondents whose organizations were hiring full-time staff were asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
43
Types of Full-time Job Categories Organizations Hired in
the Last 12 Months (by Industry, continued)
Engineers
Skilled
Trades
Sales
Representatives
Hourly
Service
Workers
High-Skilled
Technicians
High-Skilled
Medical
Production
Operators
25%
24%
22%
15%
15%
14%
13%
9%
16%
45%
52%
5%
4%
10%
51%
56%
19%
0%
13%
1%
18%
6%
30%
6%
25%
10%
14%
2%
Finance, insurance, real estate
and rental and leasing (n = 276)
3%
9%
39%
11%
5%
7%
2%
Government agencies (n = 484)
21%
32%
2%
11%
18%
15%
4%
Health care and social assistance
(n = 323)
2%
12%
10%
33%
37%
74%
2%
High-tech (n = 150)
63%
9%
51%
2%
24%
3%
16%
Manufacturing (n = 376)
56%
39%
32%
2%
11%
2%
59%
Professional, scientific, and
technical services (n = 398)
28%
6%
25%
3%
12%
4%
6%
All industries (n = 3,023)
Accommodation and food
services, retail/wholesale trade (n
= 294)
Construction, mining, quarrying,
and oil and gas extraction
(n = 312)
Educational services (n = 330)
Note: Respondents who answered “don't know” were excluded from this analysis. Percentages do not equal 100% due to multiple response options.
Only respondents whose organizations were hiring full-time staff were asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
44
Types of Full-time Job Categories Organizations Hired in
the Last 12 Months (by Industry, continued)
Lawyers,
Judges and
Protective
Legal
Service Workers
Support
Workers
Drivers
Educators
Community
and Social
Service
Workers
13%
12%
12%
10%
28%
2%
1%
17%
0%
12%
Finance, insurance, real estate
and rental and leasing (n = 276)
Scientists
Other
8%
7%
5%
5%
1%
1%
2%
0%
6%
2%
6%
6%
83%
22%
5%
12%
9%
4%
1%
0%
2%
12%
0%
0%
6%
Government agencies (n = 484)
19%
12%
27%
17%
35%
6%
6%
Health care and social
assistance (n = 323)
14%
9%
46%
4%
6%
2%
5%
High-tech (n = 150)
3%
3%
1%
17%
1%
15%
0%
Manufacturing (n = 376)
10%
0%
0%
5%
1%
10%
4%
Professional, scientific, and
technical services (n = 398)
3%
1%
1%
17%
1%
16%
10%
All industries (n = 3,023)
Accommodation and food
services, retail/wholesale trade
(n = 294)
Construction, mining, quarrying,
and oil and gas extraction
(n = 312)
Educational services (n = 330)
Note: Respondents who answered “don't know” were excluded from this analysis. Percentages do not equal 100% due to multiple response options.
Only respondents whose organizations were hiring full-time staff were asked this question.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
45
Demographics
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
46
Demographics: Organization Industry
Percentage
Accommodation and food services, retail/wholesale trade
10%
Construction, mining, quarrying, and oil and gas extraction
10%
Educational services
11%
Finance, insurance, real estate and rental and leasing
9%
Government agencies
16%
Health care and social assistance
10%
High-tech
5%
Manufacturing
12%
Professional, scientific, and technical services
14%
Other industry
3%
Note: n = 3,335. Percentages do not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
47
Demographics: Organization Sector (All Industries)
Publicly owned for-profit
45%
Government
20%
Privately owned for-profit
20%
Nonprofit
15%
n = 3,335
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
48
Demographics: Organization Sector (by Industry)
Privately Owned
For-Profit
Government
Publicly Owned
For-Profit
Nonprofit
All industries (n = 3,335)
Accommodation and food services,
retail/wholesale trade (n = 330)
Construction, mining, quarrying, and oil
and gas extraction (n = 336)
Educational services (n = 367)
Finance, insurance, real estate and rental
and leasing (n = 307)
45%
20%
20%
15%
63%
0%
36%
2%
71%
0%
28%
1%
9%
39%
4%
48%
56%
0%
24%
19%
Government agencies (n = 537)
0%
100%
0%
0%
32%
0%
9%
59%
54%
0%
44%
2%
63%
0%
36%
1%
76%
0%
19%
5%
57%
0%
22%
21%
Health care and social assistance
(n = 349)
High-tech (n = 156)
Manufacturing (n = 404)
Professional, scientific, and technical
services (n = 458)
Other industry (n = 91)
Note: Percentages may not equal 100% due to rounding.
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
49
Demographics: Region (All Industries)
16%
South
39%
West
Midwest
22%
Northeast
23%
n = 3,022
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
50
Demographics: Region (by Industry)
South
West
Midwest
Northeast
All industries (n = 3,022)
Accommodation and food services,
retail/wholesale trade (n = 287)
Construction, mining, quarrying, and oil
and gas extraction (n = 304)
Educational services (n = 330)
Finance, insurance, real estate and rental
and leasing (n = 279)
39%
23%
22%
16%
37%
29%
20%
14%
44%
25%
18%
13%
36%
18%
26%
20%
33%
19%
25%
23%
Government agencies (n = 494)
48%
24%
21%
6%
37%
22%
23%
18%
30%
36%
12%
23%
36%
16%
33%
16%
42%
24%
17%
17%
39%
23%
16%
23%
Health care and social assistance
(n = 323)
High-tech (n = 142)
Manufacturing (n = 365)
Professional, scientific, and technical
services (n = 418)
Other industry (n = 80)
Note: Percentages may not equal 100% due to rounding.
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Demographics: Organization Staff Size (All Industries)
1 to 99 employees
21%
100 to 499 employees
31%
500 to 2,499 employees
22%
2,500 to 24,999 employees
25,000 or more employees
20%
7%
Note: n = 2,945. Percentages do not equal 100% due to rounding.
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Demographics: Organization Staff Size (by Industry)
1 to 99
Employees
100 to 499
Employees
500 to 2,499
Employees
All industries (n = 2,945)
Accommodation and food services,
retail/wholesale trade (n = 278)
Construction, mining, quarrying, and
oil and gas extraction (n = 301)
Educational services (n = 318)
Finance, insurance, real estate and
rental and leasing (n = 279)
21%
31%
22%
20%
7%
14%
27%
17%
19%
24%
23%
33%
20%
20%
3%
10%
29%
32%
25%
3%
29%
31%
20%
14%
6%
Government agencies (n = 470)
13%
32%
30%
21%
4%
15%
29%
23%
24%
9%
27%
27%
16%
21%
9%
17%
32%
22%
23%
6%
40%
32%
11%
13%
5%
23%
36%
17%
17%
8%
Health care and social assistance
(n = 314)
High-tech (n = 143)
Manufacturing (n = 355)
Professional, scientific, and technical
services (n = 409)
Other industry (n = 78)
2,500 to 24,999 25,000 or More
Employees
Employees
Note: Percentages may not equal 100% due to rounding.
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Demographics: Other (All Industries)
For multi-unit organizations, are HR policies and practices
determined by the multi-unit headquarters, by each work
location or by both?
Does your organization have U.S.-based
operations (business units) only, or does it
operate multinationally?
U.S.-based operations only
71%
Multinational operations
29%
Multi-unit headquarters determines HR
policies and practices
48%
Each work location determines HR policies
and practices
3%
A combination of both the work location and
the multi-unit headquarters determines HR
policies and practices
49%
n = 3,092
Is your organization a single-unit organization or a
multi-unit organization?
Single-unit organization: An organization
in which the location and the organization
are one and the same.
31%
Multi-unit organization: An organization
that has more than one location.
69%
n = 2,223
n = 3,116
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SHRM Survey Findings
Survey Methodology
• Response rate = 13%
• 3,335 HR professionals participated in this survey from a randomly selected sample of SHRM’s
membership from nine different industries:
» Accommodation and food services, retail/wholesale trade.
» Construction, mining, quarrying, and oil and gas extraction.
» Educational services.
» Finance, insurance, real estate and rental and leasing.
» Government agencies.
» Health care and social assistance.
» High-tech.
» Manufacturing.
» Professional, scientific, and technical services.
• Margin of error +/-2%
• Survey fielded December 16, 2013 - January 16, 2014
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Additional SHRM Resources
• SHRM Leading Indicators of National Employment (LINE)
» http://www.shrm.org/research/monthlyemploymentindices/line/pages/default.aspx
• SHRM Jobs Outlook Survey (JOS)
» http://www.shrm.org/research/monthlyemploymentindices/lmo/pages/default.aspx
• SHRM Metro Economic Outlooks
» http://www.shrm.org/research/monthlyemploymentindices/pages/metroeconomicoutlooks.aspx
• SHRM’s Workforce Readiness Resource Page
» http://www.shrm.org/hrdisciplines/staffingmanagement/articles/pages/workforcereadiness.aspx
• SHRM Foundation: What’s Next: Future Global Trends Affecting Your Organization, Evolution of Work
and the Worker
» http://www.shrm.org/about/foundation/shapingthefuture/documents/214%20theme%201%20paper-final%20for%20web.pdf
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About SHRM Research
For more survey/poll findings, visit shrm.org/surveys
For more information about SHRM’s Customized Research Services, visit
shrm.org/customizedresearch
Follow us on Twitter @SHRM_Research
Project lead:
Tanya Mulvey, researcher, SHRM Research
Project contributors:
Alexander Alonso, Ph.D., SPHR, vice president, SHRM Research
Evren Esen, director, Survey Programs, SHRM Research
Yan Dong, Survey Research Center, SHRM Research
Christina Lee, researcher, SHRM Research
Qikun Niu, intern, SHRM Research
Jennifer Schramm, manager, Workplace Trends and Forecasting, SHRM Research
Joseph Coombs, senior analyst, Workforce Trends, SHRM Research
Copy editor:
Katya Scanlan, SHRM Knowledge Center
Economic Conditions—Overall Financial Health and Hiring ©SHRM 2014
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About SHRM
Founded in 1948, the Society for Human Resource Management (SHRM) is the
world’s largest HR membership organization devoted to human resource management.
Representing more than 275,000 members in over 160 countries, the Society is the
leading provider of resources to serve the needs of HR professionals and advance the
professional practice of human resource management. SHRM has more than 575
affiliated chapters within the United States and subsidiary offices in China, India and
United Arab Emirates. Visit us at shrm.org.
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