Recruiters report that hiring is on the rise following the election.
The hiring process has been slow for most of the year, as any recent job seeker can attest.
The hiring efforts of many organizations have resumed after pausing ahead of the U.S. presidential election, indicating a possible positive trend that may continue into the new year.
According to Debra Boggs, founder and CEO of D&S Executive Career Management, the shift in hiring strategy occurs with every general election, but was even more pronounced this year due to the last-minute changes in the leading nominees and the tight race between President-elect Donald Trump and Vice President Kamala Harris.
The hiring market for executive-level candidates opened up almost immediately after the election of a clear president-elect, according to Boggs, as stated on CNBC Make It.
In the week following the election, four of her clients received job offers in the health care and tech sectors.
"With a more predictable market, there's an increased willingness to invest in new talent, according to Boggs," says Boggs.
Additionally, job-seeking clients are experiencing an increase in new job postings online, recruiter outreach, and interviewing activity, she notes.
Changes in the C-suite could mean more movement for everyone else
An influx of calls to resume hiring talks were received for Terry Petzold, the managing partner at Fox Search Group, a firm that specializes in recruiting tech jobs.
One of our top [chief information officer] candidates who is actively on the market received four calls last week, whereas he hadn't gotten any for the last three months, according to Petzold.
Small- and medium-sized businesses are actively hiring, with a focus on achieving specific goals within the quarter.
He states that some sectors are already having intense discussions about progressing, including oil and gas; manufacturing, transportation, and logistics; tech; retail; and consumer packaged goods.
Petzold, who specializes in executive hiring, believes that movement at the C-suite level could lead to increased hiring across the business.
When a company is waiting to make an executive hire, they may pause hiring for their team. After a new leader is appointed, they may create new positions or bring in familiar faces to join their team.
C-suite changes could either provide opportunities for middle management and other staff to advance in their careers or enable them to depart and follow their boss to a new organization, according to Petzold.
What hiring could look like in 2025 and beyond
According to Boggs, the job market is expected to be robust until the end of 2024 and beyond.
"She advises her clients not to slack off on their job search during the holidays as many things were put on hold during the fall season. Employers will still need jobs filled and will make decisions before the first of January."
Expects Boggs that 2025 will be a big hiring month, like January usually is.
In the health care and financial services sectors, tech companies are expected to experience an increase in hiring demand, according to Petzold's predictions in the tech space.
Some experts predict that President-elect Trump's policies, such as increasing tariffs on imported goods, could lead to a "big negative shock" to the economy by 2026, potentially slowing down hiring again.
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