Global Hiring Intentions Show Signs Of Green Shoots For Q1 2021
ManpowerGroup's Employment Outlook Survey indicates improved hiring intentions worldwide, with 32 out of 43 countries showing positive trends since the last quarter. The greatest optimism is noted in the Asia Pacific and Americas, while Europe remains cautious. Key highlights include a +17% increase in hiring outlook in the U.S. and significant improvements in Singapore (+17%) and Costa Rica (+16%). However, 13% of employers foresee a delay in returning to pre-pandemic hiring levels until July 2021, down from 54% previously. The next hiring expectations survey is scheduled for March 9, 2021.
- Hiring intentions improved in 32 of 43 countries.
- Significant increases reported in Asia Pacific and Americas.
- Strongest outlooks in U.S. (+17%) and Singapore (+17%).
- Positive outlooks across all U.S. industry sectors.
- Employers in APAC exhibit the most positivity about returning to pre-pandemic hiring levels.
- Employers in Europe are the least optimistic about hiring recovery.
- Caution remains, with 13% of employers not expecting to return to pre-pandemic hiring levels until July 2021.
MILWAUKEE, Dec. 8, 2020 /PRNewswire/ -- Hiring outlooks are showing signs of recovery around the world, according to the latest ManpowerGroup (NYSE-MAN) Employment Outlook Survey of over 37,000 employers in 43 countries. Since the previous quarter, hiring intentions improve in 32 of 43 markets with the most significant increases reported in the Asia Pacific and Americas regions, and greatest caution from employers in Europe.* The survey also reveals employers will be cautious for the long term:
Key findings:
- Hiring intentions improve since last quarter in 32 markets and remain the same in five: China, Hong Kong, Austria, Hungary, Poland
- Hiring intentions weaken since last quarter in six countries: Switzerland, France, Japan, Turkey, Slovakia, Czech Republic
- The biggest quarter over quarter improvements are reported by employers in Singapore (+
17% ), Costa Rica (+16% ) and Guatemala (+15% ) - Strongest hiring intentions in Taiwan, U.S. and Singapore; weakest outlooks in Panama, U.K. and Switzerland
- Employers in Europe are the least optimistic about a return to pre-pandemic hiring levels with most predicting this will be later than October 2021
- Most employers in APAC expect pre-pandemic hiring will return by the New Year. Those in the Americas expect a July 2021 return.
"These results show the slow and gradual pace of improvement will continue into Q1 though uncertainty remains and employers are preparing for a disruptive future ahead." Said Jonas Prising, ManpowerGroup Chairman and CEO. "The last nine months have shown businesses that they can transform and digitize at a pace and scale they may not have previously thought possible. As skilled talent remains a key differentiator for recovery and reset it must be the priority of employers and governments to support people with swift, targeted upskilling programs so that value creation is shared with the many, not just the few."
The pandemic has led to a rapid evolution of the HR function with a growing urgency for recovery, reset and reskilling. Going into 2021 and beyond HR leaders will prioritize employee wellbeing, followed by offering new work models and a greater focus on upskilling, learning and development.
View the complete Q1 2021 survey results: www.manpowergroup.com/meos
Global Hiring Plans by Region
Americas: Hiring outlooks strengthen in all 10 countries compared with the previous quarter.
- The strongest outlooks are reported by employers in the U.S (+
17% ) – for the 13th consecutive quarter – and Brazil (+10% ). The weakest are reported in Panama (-7% ) and Costa Rica (+2% ). - Employers in all 12 U.S. industry sectors report positive outlooks with the strongest outlooks in the Leisure & Hospitality sector as businesses re-hire some of those furloughed or laid off early in the pandemic (+
26% ). - In Mexico (+
8% ) the most optimistic outlooks are reported by employers in the Northwest (12% ), West (9% ) and Southeast (8% ).
EMEA: Outlooks improve quarter-over-quarter in sixteen markets, decrease in five and remain the same in three.
- The strongest regional hiring plans are reported in Greece (+
9% ), Turkey (+8% ) and Germany (+8% ), while the weakest outlooks reported by employers in the U.K. (-6% ), Switzerland (-4% ) and Austria (-2% ). - Employers in London and Paris report the weakest outlooks in the UK and France as lockdowns continue to impact hiring plans.
- The slower pace of hiring planned in the U.K, France and Switzerland reflects the varying degrees of economic lockdowns, as regional measures in the countries have been imposed since September.
APAC: Outlooks improve in four of five APAC countries and territories.
- The most optimistic hiring prospects are reported in Taiwan (+
23% ) – the strongest globally – and Singapore (+15% ), while the weakest and only negative outlook in the region is reported by employers in Hong Kong (-2% ). - Employers in APAC are also most positive about the speed of hiring returning to pre-pandemic levels with
27% believing it is possible within the next three months. - Employers in Australia report cautiously optimistic hiring plans for Q1. As lockdowns and domestic travel restrictions ease, the outlook improves nine percentage points quarter over quarter.
- Hiring plans in China remain unchanged since last quarter (+
5% ) and stable compared with this time last year.
To view complete results for the ManpowerGroup Employment Outlook Survey, visit: www.manpowergroup.com/meos. The next survey will be released March 9, 2021 and will report hiring expectations for Q2 2021. To receive the latest survey results each quarter, sign up here.
*The survey – conducted October 2020 – is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator.
The Net Employment Outlook is derived by taking the percentage of employers anticipating an increase in hiring activity and subtracting from this the percentage of employers expecting a decrease in hiring activity.
ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis and Talent Solutions – creates substantial value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity - as a best place to work for Women, Inclusion, Equality and Disability and in 2020 ManpowerGroup was named one of the World's Most Ethical Companies for the eleventh year - all confirming our position as the brand of choice for in-demand talent.
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SOURCE Manpower Inc.
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