The increasingly less favorable forecasts for the economy in 2023 are already touching the business climate, and for the first quarter of 202 anda more moderate hiring expectations are evident among Colombian businessmen. This is according to the latest ManpowerGroup Net Employment Outlook.
(Read: Challenges to maintain and generate employment in Colombia in 2023).
The survey carried out by the firm at a global level had the participation of approximately 39,000 employers in 41 countries, and for Colombia an important moderation is perceived, since the indicator stands at 23% for the period January-March 2023, while in the last quarter of last year it was at 43%.
The net job expectancy measured by the human talent consultancy is calculated by taking the percentage of employers that anticipate an increase in hiring activity and subtracting from this the percentage of employers that expect a decrease in hiring activity.
The situation in Colombia is not far from that of other countries, since the international weighted evidenced a deterioration of 6 points compared to the previous quarterand was also located at 23%.
globally 41% of employers plan to hire more staff in the first three months of 2023. In contrast, 18% expect a decrease in staffing, 38% say they will keep their workforce stable, and 3% argue that they have not taken a position.
In the region, some countries have a net expectation of higher recruitment according to the study, such as Panama (39%) and Costa Rica (35%), while Peru stands at 31%, Mexico at 28% and Brazil at 27%. Argentina appears below Colombia, with only 9%.
The report states that “theHiring confidence wanes in most countries as concerns about a potential recession and ongoing inflation mount”. Despite this, positive expectations remain in 38 of the 41 countries and territories.
(In addition: The negative effects of reducing contracts for the provision of services).
“This new study from ManpowerGroup shows the impact that the economic crisis has had on labor markets globally. However, it also shows how roles and positions linked to digitization continue to stimulate demand for highly-skilled talent and contribute to a global outlook. overall positive outlook for the world of work by 2023,” said Javier Echeverri, president of ManpowerGroup Colombia.
The report from the human capital agency also presented the analysis by sector and by company size, and highlighted that, compared to the last quarter, Hiring climates have weakened in 8 of the 9 areas the study looks atbut it is also clear that sectoral expectations are returning to the hiring levels that were registered before the pandemic.
The communications services branch is the most optimistic in contracting, with a net employment expectation of 37%, followed by the industrial and materials sector, at 34%, and finance and real estate, at 20%. The transport and logistics sector appears at 26% followed by the information technology industry, with 24%.
A more moderate position is that of companies dedicated to consumer goods and services, at 19%, health and sciences (5%), and energy and public services.
In relation to company size, it stands out that small companies (between 10 and 49 employees) and large ones, those with more than 250 workers, are the most likely to hire, with a net projection of new jobs of 31% and 24 % respectively. According to ManpowerGroup, small businesses remain the most bullish because they focus on the customer experience.
(Keep reading: ILO recommends expanding employment with flexible work hours).
In the case of microenterprises, companies with less than 10 employees, the perspective is 22%, while medium-sized firms, with between 50 and 249 employees, are the most cautious when it comes to promoting new hireswith an indicator that only reaches 20%.
The ManpowerGroup study highlights, however, that in all sizes of organizations they decrease when compared to the previous quarter.
Employment and wages.
The agency’s report also shows that in the case of Colombia, the highest net contracting expectation for the first quarter is in the Pacific region, with 50%, although less than 60% in the last quarter of 2022. In the case of the Amazon, net contracting forecasts went from -57% in the fourth quarter of 2022 to 42% for the first three months of the year.
Employers in the Orinoquía have a net employment expectation of 31%, while in the Caribbean it is 24% and in the Andean region employers reported a net hiring intention of 16%.
Skills the market is looking for
The report identified that employers globally anticipate high demand for talent in key sectors, and that digital roles continue to drive the highest demand globally, therefore, the IT industry is the one that reports the most optimistic expectation (35%).
(Also: Bancolombia, Éxito, Homecenter and more companies looking for employees).
Also, 75% of employers report difficulty finding the skills required to support their workforce. “It is essential that companies define and implement very effective strategies to attract and retain talent,” said Echeverri.
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