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EXECUTIVES AT MIDSIZE FIRMS LOWER THEIR HIRING OUTLOOK IN 2012
May 17th, 2012
Author: Glenn Levar, CEO of Shared Time Human Resources Management
Midsize companies to focus on improving their cash balances,
according to Deloitte survey.
Executives at midsize U.S. companies are less optimistic
than they were a year ago about their hiring plans as they focus on managing
costs, according to a Deloitte survey released Monday.
The percentage of midmarket executives expecting to grow
their U.S. workforce dropped to 42% compared with 48% in 2011, Deloitte
reported in its "Mid-Market Perspectives: 2012 Report on America's
Economic Engine" survey.
Deloitte defined midmarket companies as firms with annual
revenues between $50 million and $1 billion.
Of the 528 U.S. executives responding to the survey, 86%
said continued economic uncertainty has dampened their expectations for
economic growth this year.
"Because of the significantly slower growth than we've
seen in previous recoveries, midmarket executives are increasingly cautious
about their expectations for 2012," said Tom McGee, national managing
partner for Deloitte Growth Enterprises Services. "Midmarket companies are
now trying to meet the challenges of this volatile economy by taking a more
adaptable approach to managing certain key business fundamentals."
Instead of adding headcount, 51% of midmarket employers plan
to invest in their existing workforce through training, up from 34% last year.
Midsize employers who are expecting to fill positions say
they're having trouble finding skilled talent, particularly in engineering,
health care and information technology functions, according to the report.
The volatile global economy has executives at midsize firms
focused on balance-sheet health and investments. May 7, 2012 Jonathan
Katz industryweek.com
CLICK HERE to view the article.
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