Small Business Hiring Forecast Shows Bigger Paychecks in Store for Q4

October 10th, 2016 Comments off

As the holiday season approaches, small business employees may have extra reasons to be jolly, as the majority (58 percent) of small business employers plan to increase salaries for full-time, permanent employees in Q4, according to CareerBuilder’s most recent hiring forecast. Nearly 1 in 4 employers (23 percent) anticipate an average pay increase of 5 percent or more.

Small Business Hiring Plans for Q4

‘Tis the season for seasonal hiring: 1 in 4 small business employers plan to hire seasonal employees in Q4 2016. While many plan to hire for additional help during the busier holiday season, others need seasonal employees to fill in for workers who are out of the office for the holidays, assist with year-end wrap ups, or help the company ramp up for 2017. Industries expected to hire seasonal employees most are customer service, retail sales and administrative/clerical support.

Twenty-seven percent of small business employers plan to add full-time, permanent employees in Q4. Seven percent expect to reduce staff, while the majority (59 percent) anticipate no change and 6 percent are unsure.

Nearly 3 in 10 small business employers (29 percent) expect to temporary or contract workers in Q4. Many of these employers are viewing temporary and contract hiring as a means to test-drive candidates for more permanent roles. Twenty-three percent expect to transition some contract or temporary workers into full-time positions.